Henry Shultz
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Henry Shultz (1776 - 13 October, 1851) was a mechanical genius and entrepreneur who appeared in the United States at Augusta, GA in 1806. His aggressive and intelligent vision gained the respect and confidence of local citizens, investors, and the legislatures of Georgia and South Carolina. His cantankerous independence led to resentment, bankruptcy, manslaughter, and attempted suicide. He lived a long life, but only long enough to see the unravelling of his Town of Hamburg, South Carolina and failure in his spiteful commerce war with Augusta.
Born in Hamburg, Germany, where the economy was destroyed by the Napoleonic Wars, Shultz emigrated after running afoul of the encroaching French. In Augusta he took a job on the Savannah River pole boats, which carried produce collected from local planters to seaports at Savannah and Charleston. By 1809 he was able to purchase a 'tobacco flat' of his own. In 1813 he partnered with Lewis Cooper, a heavy constructor, in the building of the marvelous Augusta Bridge. This structure proved to be a cash cow, returning its value every five years, and entitled Shultz to a lifetime of honor and prosperity. The aggressive Shultz further leveraged its revenue by founding a bank and issuing currency called 'Bridge Bills', and continued to develop major public works at the City of Augusta.
Shultz's fortunes were completely reversed during the nationwide Panic of 1819. His banking partner, John McKinne, mortgaged the bridge to support business debts. With collusion of the City of Augusta, control of the great Bridge was lost to the Bank of the State of Georgia. Somehow, the infuriated Shultz was left holding the bag for the defaulted Bridge Bills.
Shultz proceeded to observe that much of the trade coming to Augusta originated from planters in South Carolina. In 1821 he proceeded to intercept this increasingly valuable cotton trade by founding the town of Hamburg, South Carolina directly across the river from Augusta.
Shultz gained widespread support for his idea, even convincing the South Carolina legislature to loan money for a steamboat and other improvements. But as before he became overextended, was forced to firesale Hamburg lots at depressed prices, and by 1826 frankly admitted a desire to sell out and begin again from zero. In 1827 a large portion of Hamburg was repossessed. Shultz even became involved in a manslaughter case, and though his imprisonment was relieved by a pardon, he returned to jail shortly thereafter as an impoverished pauper.
Although Shultz continued to play his role as 'founder and proprietor' of Hamburg, he was forced to support a living - and lawsuits contending for the Bridge - from increasingly smaller scraps of his Town. He died in poverty in Hamburg, South Carolina on 13 October, 1851.
[edit] Assessment
A man of great energy and vision, Shultz habitually underrated obstacles to his projects, resulting in grandiose successes and spectacular failures. Strongly attached to riverborne commerce, the superiority of railroads escaped him. His actions were frequently devoted to the common good, but an arrogant and devious personality led to widespread antipathy and opposition to his success. The 'strong, elegant and substantial' Augusta Bridge served well until its destruction in a flood in September, 1888. Shultz's other public works proved less durable, leaving only his colorful name in Southern history.
[edit] External links
[edit] References
Charles G. Cordle. Henry Shultz and the Founding of Hamburg, South Carolina. Studies in Georgia History and Government, 1940, 79-93 and 257-263
Edwin Scott. Random Recollections of a Long Life, 1884, 25-28
Edward J. Cashin. The Story of Augusta, 1980
Johan A. Wagener. The Founder of Hamburg. Augusta Chronicle, April 30, 1876
| Persondata | |
|---|---|
| NAME | Shultz,Henry |
| ALTERNATIVE NAMES | Heinrich Schultz |
| SHORT DESCRIPTION | Entrepreneur |
| DATE OF BIRTH | 1776 |
| PLACE OF BIRTH | Hamburg, Germany |
| DATE OF DEATH | October 13, 1851 |
| PLACE OF DEATH | Hamburg, South Carolina, USA |
