1828, Samuel Slater, Father Of Industry, Als Re: Business Payments Owed For Sale

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Samuel Slater (June 9, 1768 – April 21, 1835) was an early English-American industrialist known as the "Father of the American Industrial Revolution" (a phrase coined by Andrew Jackson), the "Father of the American Factory System" and "Slater the Traitor" (in the UK) because he brought British textile technology to America. He learned textile machinery as an apprentice to a pioneer in the British industry. He brought the knowledge to America where he designed the first textile mills, went into business for himself and grew wealthy. By the end of Slater's life he owned thirteen spinning mills and had established tenant farms and towns around his textile mills such as Slatersville, Rhode Island.

In 1793, now partners with Almy and Brown, Slater constructed a new mill for the sole purpose of textile manufacture under the name Almy, Brown & Slater. It was a 72-spindle mill; the patenting of Eli Whitney's cotton gin in 1794 ensured ample supplies of cotton from the South. Slater also brought the Sunday School system from his native England to his textile factory at Pawtucket, and hence to America.

In 1798 Samuel Slater split from Almy and Brown and formed Samuel Slater & Company in partnership with his father-in-law Oziel Wilkinson to develop other mills in Rhode Island, Massachusetts, Connecticut, and New Hampshire.

In 1799 he was joined by his brother, John Slater, from England, a wheelwright who had spent some time studying the latest English developments and might well have gained experience of the spinning mule.[2] He put him in charge of his own larger mill which he called the White Mill.

By 1810 Slater held part ownership in three factories in Massachusetts and Rhode Island. In 1823, he bought a mill in Connecticut. He then built factories that made textile machinery used by many of the region's mills, and formed a partnership with his brother-in-law to produce iron for use in machinery construction. Slater spread himself too thin, and was unable to coordinate or integrate his many different, spread out business interests. He refused to go outside his family to hire managers and after 1829 he made his sons partners in the new umbrella firm of Samuel Slater and Sons. His son Horatio Nelson Slater completely reorganized the family business, introduced cost-cutting measures, and gave up old-fashioned procedures, thereby making the firm one of the leading manufacturing companies in the United States

Slater died on April 21, 1835 in Webster, Massachusetts (a town that he founded and had become a town three years earlier in 1832 and was named after his friend Senator Daniel Webster). At the time of his death, he owned thirteen mills and was worth a million dollars. His original mill, known today as Slater Mill, still stands and operates as a museum dedicated to preserving the history of Samuel Slater and his contribution to American industry.

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