Esbon Heusted and his Many Financial Troubles

by Jeffrey Bingham Mead
Greenwich Time. Looking Back: 1996

In 1842, Esbon Heusted, a Greenwich resident, found himself in considerable financial trouble. Deacon Silas H. Mead of the North Greenwich Congregational Church, in a letter he penned to his missionary friend, Amos Starr Cooke, in far off Hawaii, described Heusted's difficulties.

"The last part of last week, our town was set in great commotion," Mead wrote from his home on John Street. "Esbon Heusted, Deacon of Horseneck Church (today's Second Congregational Church) failed in his business, perhaps he won't be able to pay one half is liabilities."

From October 1841 through October 1842, Heusted had accumulated nine mortgages totaling $17,145.15. By today's standards that seems small, but it was substantial for the early 1840s. When the business climate went sour, so did Heusted's fortunes and investments. Bankruptcy loomed its uninvited head.

Twenty-three "executions" of warrants for his arrest were served between 1843 to 1844. These are recorded in manuscript form in the Greenwich land records at Town Hall. Heusted's creditors included Edward Knapp, David Heusted, Deborah Mead, Abigail Hobby, and William Close. The Fairfield County Bank was owed $26,066.1/2 cents, too. They levied $1444 for cost of suit and fees.

"The worst of it all," continued Silas H. Mead to his missionary friend, "is he used his neighbors names too freely, to what extent I do not know. Forge one note and then another, take up the first and so on. Whether he meant to be dishonest or not, there is a difference of opinion. I should think that he has no money now, and I believe today he has given himself up and gone to jail." 

Silas H. Mead resumed his narrative. "He commenced first by altering the date of a note from May to August... and I doubt very much whether he has a key to his bosom that will unlock any door there. I am told he appears penitent, says he did not mean to injure anyone, and is sorry he has done as he has." 

How did Mr. Heusted settle his accounts? One indiction is recorded in Volume 25, Page 26 in the Land records. A 'Chattel mortgage' is registered between Heusted and Zaccheus Mead dated Nov. 11, 1842. The items covered, valued at $200, included 20 yards of muslin, a "looking glass," 6 blankets, a picture of Washington, two chests of carpenters tools, a flock of geese and more.

A lesson was derived from these unfortunate circumstances by Silas H. Mead. "Here we can see the propriety of the caution, 'Let him that thinketh he standeth take heed lest he fall. And now friend we can see what a tearful thing it is to step out of the path ever so little." 


Jeffrey Bingham Mead is a direct descendant of one of the founding families of the Town of Greenwich. He is a free-lance writer and a member of the Greenwich Historical Society.