Isaac Watts Sherman (1818 - 1881)

Born 25 Jan 1818 in Petersburgh, Rensselaer, New York, United States

Ancestors

Husband of Elizabeth (Wetherell) Sherman — married about 1843 in Manhattan, New York, New York

Descendants

Died 21 Jan 1881 at age 62 in Manhattan, New York, New York, United States

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Biography

Isaac Watts Sherman was born on January 25, 1818 in Petersburgh, Rensselaer, New York, United States, son of Benjamin Sherman (1778–1841) and Elizabeth Brown (1776– ).

Isaac (24) married Elizabeth Wetherell (1842)) about 1843 in Manhattan, New York. Their daughter was Cornelia Sherman (1843–1920).

Isaac died on January 21, 1881 in Manhattan, New York, aged 62.

Research Notes

Note: Portrait gallery of the Chamber of Commerce of the state of New York:

catalogue and biographical sketches, 1890 NY Chamber of Commerce

ISAAC SHERMAN.

Although few are more worthy of a place in the Chamber of Commerce, yet, if his wishes could have been consulted, it is doubtful if the subject of this sketch would have allowed his portrait to adorn its walls, so great was his aversion to personal distinction.

Mr. Sherman was a merchant of rare ability, and met with a full measure of success. He was born in Petersburgh, Rensselaer County, New-York, January 25th, 1818. His family removed to the western part of the State when Isaac was quite a lad. In April, 1840, he engaged in the business of lumber and staves at Buffalo, and about 1843 he married Miss Elizabeth Wetherell, by whom he had two children, daughters, one of whom, the youngest, died at a tender age.

Being a prosperous business man, and having acquired a local reputation for sagacity and political knowledge, he was induced by his friends to run for member of Assembly from Erie County in 1845, and for Mayor in 1S46 and 1847, but was beaten by his Whig competitors. These results seemed to satisfy his aspirations, as he never afterwards was a candidate for political office, although he was President of the Young Men's Library Association of Buffalo in 1S49. This corporation, now the Buffalo Library, is the most prosperous literary institution in Western New-York.

After acquiring a moderate fortune, Mr. Sherman closed up his business, and, with his wife and daughter, visited Europe.

Coming to New-York in the spring of 1853, he purchased the stave business of the late William Dennistoun, and associated with him Benjamin F. Romaine, forming the house of Sherman & Romaine. Four years later, John P. Townsend and Henry Wibirt, clerks of the house, were admitted to an interest in the business, though the firm name remained unchanged.

For nine years this firm carried on the largest business in the sale of rough staves for exportation that was ever done in the country. In some years the quantity sold and exported to nearly every foreign port amounted to 14,000,000, or equal to 240 full cargoes for vessels, each of 400 tons burden ; but as they were not always loaded by full cargoes, about a thousand vessels per annum were supplied with quantities sufficient for storage with other merchandise and as dunnage thioughout the ships.

In 1862 the house dissolved, Mr. Romaine retiring temporarily from business. Mr. Townsend founded the present house of Dctton & Townsend, and Mr. Sherman established the firm of Sherman & Wibirt, which was continued for four years, when they dissolved, and Mr. Sherman finally retired from active business in 1866.

During Mr. Sherman's commercial career he was a leader in his branch of business, and met with uniform success. His keen insight and unerring sagacity made him master of every situation, although giving little apparent attention to details.

Besides his commercial ability, he stored his mind with useful knowledge ; he studied the political and legal history of his country and the lives of its public men, and becoming a warm admirer of Thomas Jefferson, adopted his political creed for his own guidance.

He was a free soil Democrat in 1848, and became a Republican when it was a national party. He procured the nomination of John C. Fremont for the Presidency, and managed with ability his political campaign in 1856.

He admired the character of Abraham Lincoln, and heartily favored him for the Presidency in 1860 ; after the election, Mr. Lincoln offered him the portfolio of Secretary of the Treasury, but he preferred to be his counsellor without official designation, and it is safe to say there was no person, outside the City of Washington, who rendered more intelligent service, or whose opinions were oftener sought by rhe President.

He opposed the bill offered in Congress, in 1861, to issue legal tender notes to circulate as money, and suggested heavy taxation in various forms as the best plan for raising revenue to carry on the war, and only assented to the law, after the immediate and pressing needs of the Government made it necessary.

He always believed that the necessity need not have arisen, had the taxes, which were afterwards levied, been imposed earlier, and maintained that the war could have been carried to a successful conclusion with currency on a specie basis without a violation of the Constitution He considered the "greenbacks " (legal tender notes) a forced loan from the people, and urged their retirement by the Government after the close of the war, and that preparation should be made for resumption on a gold basis.

He joined the Union League Club the year of its organization, in 1863, and continued a member until his death ; there his talks on financial topics were highly esteemed, and were listened to with pleasure. His reputation as an authority on the laws of taxation, in October, 1874, induced the Assembly Committee on Ways and Means, of this State, to request him to appear before it, when he made an exhaustive argument, which showed extraordinary knowledge and research, in which he favored the exclusive taxation of real estate and the franchises of a few specified moneyed corporations and gas companies. His fame as a political economist induced the Trustees of the University of Rochester, in 18S0, to confer upon him the degree of Doctor of Laws, in which institution, some years before, he had founded a scholarship of political economy.

Mr. Sherman was frank and hearty in his manner, but his aversion to notoriety caused him to decline every office or place on Committees, either in the Chamber of Commerce, of which he was for many years a member, or elsewhere, but his advice and counsel were often sought and freely given ; the powers of his mind were extraordinary ; capable of grasping almost any subject, and none of importance were indifferent to him ; he was a true patriot, and had a high idea of public duty.

He died in this City, January 21st, 1881, leaving a widow and a married daughter.

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The Bradley Martins: Their Start and Career in New York Society

On the morning of Jan. 22, 1881, notice of the death of Isaac Sherman, on the preceding day, appeared in the newspapers, and some old members of the Union Club wagged their heads knowingly and remarked that there might be a surprise to New York when Mr. Sherman's will was probated. The surprise soon came, and then it was learned that Mr. Sherman, who was not generally supposed to be worth over $200,000, had left $5,000,000 or $6,000,000, and save for an annual life income to his widow, left all to his only child and daughter, Mrs. Bradley Martin.

Sources

Acknowledgments

• Profile Sherman-902 was created through the import of BDM7-7-11.ged on Jul 8, 2011 by Brian McCullough.