Oliver Pollock: Underrated But Significant

Oliver Pollock was an Irish-born American businessman and financier who was known for funding the American Revolutionary War. He was also credited for the US Dollar sign which he created in 1778. Despite his contribution to American history, Pollock remained an undervalued figure.

Pollock was born in Coleraine, Northern Ireland in 1737. At 23 years old, Pollock joined his father as they sailed to Philadelphia and settled in Cumberland County, Pennsylvania. In two years, Pollock’s port-to-port trade with the Spanish settlers in West Indies became a success. There, Pollock also developed his friendship with Governor General Alejandro O’Reilly. Pollock began trading in New Orleans following O’Reilly’s appointment as Governor of Louisiana by the King of Spain. Pollock’s close association with O’Reilly earned him the favor of the officials of Spanish Louisiana and granted him permission for free trade within New Orleans.

At the time when flour became a scarce commodity in Louisiana, people became desperately in need of Pollock’s flour shipments. However, instead of taking advantage of the scarcity, Pollock chose to sell his flour at half the going price. This gained him popularity and he became the city’s most successful businessman.

During the American Revolution, Pollock used his wealth and political influence to get his appointment as “commercial agent of the US at New Orleans.,” He financed America’s operations in the west, including General George Rogers Clark’s successful campaign in Illinois in 1778. He also used his influence with Spanish Louisiana to conquer Louisiana, Alabama and Florida.