Jan 5, 2020

Tom DiLorenzo on Henry Clay's time as general counsel of the Bank of the United States

Having incurred $40,000 in personal debt, [Henry] Clay left Congress for two years in 1822 to serve as general counsel of the Bank of the United States.  As Clay biographer Maurice Baxter explains,
His income from this business apparently amounted to what he needed [to pay off his personal debt]: three thousand dollars a year from the bank as chief counsel, more for appearing in specific cases; and a sizable amount of real estate in Ohio and Kentucky in addition to the cash... When he resigned to become Secretary of State in 1825, he was pleased with his compensation.
Who wouldn't be pleased?  In current dollars the amount of money Clay earned in just two years would be nearly a million dollars.

~ Tom DiLorenzo, The Real Lincoln, p. 65

Henry Clay
1894


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