Nicholas Biddle (banker) - Ancestry and Early Life

Ancestry and Early Life

Nicholas Biddle was born in Philadelphia, Pennsylvania. Ancestors of the Biddle family immigrated to Pennsylvania when William Penn visited, and fought in the pre-Revolutionary colonial struggles. Nicholas's father, Charles Biddle, was prominent in his devotion to the cause of American Independence and served as Vice-President of Pennsylvania, alongside President Benjamin Franklin. Also, an uncle with the same name, Nicholas Biddle, whose residence was in Philadelphia, was an early naval hero. Another uncle, Edward Biddle, was a member of the Congress of 1774. Young Nicholas Biddle was very bright and he would become well educated; as he was enrolled at a prestigious academy in Pennsylvania at a very early age. Due to his rapid educational progress, he entered the University of Pennsylvania at the age of 10. When the university refused to award the teenager a degree, he transferred to Princeton and graduated in 1801, at 15, the class valedictorian. His older brother Thomas Biddle was a War of 1812 hero who died in a duel. His brother, Thomas, should not be confused with his cousin by the same name, who became a leading exchange broker in Philadelphia.

Biddle was offered an official position before he had even finished his law studies. As secretary to John Armstrong, a United States minister to France, he went abroad in 1804, and was in Paris at the time of Napoleon's coronation. Afterward, he participated in an audit related to the Louisiana Purchase, acquiring his first experience in financial affairs. Biddle traveled extensively through Europe, returning to England to serve as secretary for James Monroe, then United States minister to the Court of St. James's. At Cambridge, Biddle took part in a conversation with Cambridge professors involving comparison between modern Greek dialect and that of Homer; the incident captured Monroe's attention.

In 1807, Biddle returned home to Philadelphia. He practiced law and wrote, contributing papers to different publications on various subjects, but chiefly in the fine arts. He became associate editor of a magazine called Port-Folio, which was published from 1806 to 1823. He married Jane Margaret Craig (b. 1792) in 1811, and together they had six children. When editor Joseph Dennie died in 1812, Biddle took over the magazine and lived on 7th St near Spruce Street.