As a leading member of the New England mercantile-manufacturing community, Nathan Appleton (1779-1861) was instrumental in shaping sound institutions for trade, production, and banking in the early economy of the United States.

Nathan Appleton was born on Oct. 6, 1779, in New Ipswich, N.H. He attended the common schools and the local academy in preparation for college study. At the age of 15 he was admitted to Dartmouth College but decided instead to enter business. He accompanied his elder brother Samuel to Boston and learned bookkeeping in order to work as a clerk in Samuel's mercantile house. When he reached 21 in 1800, he became a full partner in the business, which continued until 1809. In the following year he joined his brother Eben and another merchant, Daniel P. Parker, in a similar venture, which prospered until it was dissolved in 1813.

That year marked Appleton's first move into manufacturing; he invested a portion...