Timothy Dexter

Early Life and Background

Timothy Dexter was born on January 22, 1747, in Malden, Massachusetts. He came from a modest background, with his parents being of humble means. Dexter received little formal education and worked as a farm laborer in his early years. Despite his lack of formal schooling, Dexter exhibited a keen sense of business from a young age.

Business Ventures

Dexter's initial foray into business began with the purchase of a small store in Newburyport, Massachusetts. He married Elizabeth Frothingham, a wealthy widow, which provided him with the capital to expand his business interests. Dexter's ventures were often unconventional and sometimes appeared irrational, yet many of them turned out to be surprisingly profitable.

Exporting Bed Warmers to the West Indies

One of Dexter's most famous business decisions was his purchase of large quantities of bed warmers, which he then exported to the West Indies. This move seemed ludicrous, as the warm climate of the West Indies would seemingly render bed warmers useless. However, the bed warmers were repurposed as molasses ladles, and Dexter made a significant profit from the venture.

Selling Coal to Newcastle

Another notable venture was Dexter's decision to ship coal to Newcastle, England, a region known for its abundant coal supply. This phrase, "carrying coal to Newcastle," is often used to describe a pointless activity. However, Dexter's timing coincided with a miners' strike in Newcastle, leading to a high demand for coal, and he once again profited from what appeared to be a foolish endeavor.

Whaling and Whale Bone

Dexter also invested in the whaling industry, purchasing large quantities of whale bone. At the time, whale bone was used in various products, including corsets and umbrellas. His investment paid off as the demand for whale bone increased, further solidifying his reputation as an eccentric yet successful businessman.

Eccentricities and Public Persona

Timothy Dexter was known for his eccentric behavior and flamboyant personality. He often referred to himself as "Lord Timothy Dexter" and claimed to be of noble descent. Dexter's home in Newburyport was adorned with numerous wooden statues of famous individuals, including George Washington and Napoleon Bonaparte.

Publication of "A Pickle for the Knowing Ones"

In 1802, Dexter published a book titled "A Pickle for the Knowing Ones," which was a collection of his thoughts and opinions. The book was notorious for its lack of punctuation and erratic spelling. In response to criticism, Dexter published a second edition with an additional page of punctuation marks, instructing readers to insert them as they saw fit.

Timothy Dexter's house in Newburyport, Massachusetts, adorned with wooden statues.

Timothy Dexter's house in Newburyport, Massachusetts, adorned with wooden statues.

Later Life and Death

In his later years, Dexter's behavior became increasingly erratic. He staged his own funeral to see how people would react, and when his wife did not mourn to his satisfaction, he publicly berated her. Despite his eccentricities, Dexter continued to amass wealth through his various business ventures.

Timothy Dexter died on October 26, 1806, in Newburyport, Massachusetts. He left behind a substantial estate and a legacy as one of the most unconventional yet successful businessmen of his time.

Legacy

Dexter's life and business ventures have been the subject of much fascination and study. His ability to turn seemingly foolish decisions into profitable ventures has intrigued historians and economists alike. Dexter's story serves as a testament to the unpredictable nature of entrepreneurship and the potential for success through unconventional means.

See Also

• Whaling
• Newburyport, Massachusetts
• George Washington
• Napoleon Bonaparte
• Entrepreneurship