Lowly Beginnings.

Thomas Hancock was born on 13 July 1703 to a poor parish minister, the Reverend John Hancock, and his wife, Elizabeth Clark. They lived in a settlement called Cambridge Farms, which would be known later as Lexington, Massachusetts. His education was limited to what his father was able to offer him. When Thomas was thirteen years old he accepted an apprenticeship with a Boston bookseller and bookbinder. In 1723 he established his own bookshop.

Diversification.

Hancock's success led to other ventures. With various partners he engaged in paper manufacturing; he exported codfish, whale oil, logwood, and potash; he supplied rum, molasses, and other supplies to the Newfoundland fishing fleet; and he controlled a group of fishing vessels. His marriage in 1730 to Lydia Henchman, the daughter of a prominent Boston merchant, had a positive influence on his business dealings in Boston. The combination of that favorable...