The father of our country learned his dollars and sense the hard way. Here’s what he had to teach us.
George Washington said: “As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible.”
Those are words to live by, and the father of our country certainly did. A recent review of the first President’s Mt. Vernon household budget ledger reveals that George Washington was a scrupulous bookkeeper – if only a bit loose with his cash.
The website Wallet Pop has the goods, with contributor Jason Cochran visiting the former home of President Washington and taking a good look at his financial documents.
Cochran discovered that George Washington was a meticulous money manager, as well as being a multi-tasking businessman who ran successful enterprises, including a whiskey distillery and a fishing operation. While he did have accountants to help tally up the books, Washington, at the end of every business day, would take the day’s ledger to his quarters and sign off on it himself.