Benedict Arnold - Businessman

Businessman

In 1762, with the help of the Lathrops, Arnold established himself in business as a pharmacist and bookseller in New Haven, Connecticut. Arnold was hardworking and successful, and was able to rapidly expand his business. In 1763 he repaid money borrowed from the Lathrops, repurchased the family homestead that his father had sold when deeply in debt, and re-sold it a year later for a substantial profit. In 1764 he formed a partnership with Adam Babcock, another young New Haven merchant. Using the profits from the sale of his homestead, they bought three trading ships and established a lucrative West Indies trade. During this time, he brought his sister Hannah to New Haven and established her in his apothecary to manage the business in his absence. He traveled extensively in the course of his business, throughout New England and from Quebec to the West Indies, often in command of one of his own ships. On one of his voyages, Arnold fought a duel in Honduras with a British sea captain who had called him a "damned Yankee, destitute of good manners or those of a gentleman". The captain was wounded after the first exchange of gunfire, and apologized after Arnold threatened to aim to kill on the second.

The Sugar Act of 1764 and the Stamp Act of 1765 severely curtailed mercantile trade in the colonies. The latter act prompted Arnold to join the chorus of voices in opposition to those taxes, and also led to his entry into the Sons of Liberty, a secret organization that was not afraid to use violence to oppose implementation of those and other unpopular Parliamentary measures. Arnold initially took no part in any public demonstrations but, like many merchants, continued to trade as if the Stamp Act did not exist, in effect becoming a smuggler in defiance of the act. Arnold also faced financial ruin, falling £16,000 in debt, with creditors spreading rumors of his insolvency to the point where he took legal action against them. On the night of January 28, 1767, Arnold and members of his crew, watched by a crowd of Sons, roughed up a man suspected of attempting to inform authorities of Arnold's smuggling. Arnold was convicted of a disorderly conduct charge and fined the relatively small amount of 50 shillings; publicity of the case and widespread sympathy for his view probably contributed to the light sentence.

On February 22, 1767, Arnold married Margaret Mansfield, daughter of Samuel Mansfield, the sheriff of New Haven, an acquaintance that may have been made through the membership of both Mansfield and Arnold in the local Masonic Lodge. Their first son, Benedict, was born the following year, and was followed by brothers Richard in 1769, and Henry in 1772. Margaret died early in the revolution, on June 19, 1775, while Arnold was at Fort Ticonderoga following its capture. The household, even while she lived, was dominated by Arnold's sister Hannah. Arnold benefited from his relationship with Mansfield, who became a partner in his business and used his position as sheriff to shield Arnold from creditors.

Arnold was in the West Indies when the Boston Massacre took place on March 5, 1770. He wrote he was "very much shocked" and wondered "good God, are the Americans all asleep and tamely giving up their liberties, or are they all turned philosophers, that they don't take immediate vengeance on such miscreants".