Patrick Henry was an inveterate and voracious engrosser of land lying beyond the deadline set by the British State [i.e., the Royal Proclamation of 1763 which prohibited English colonists from settling west of the Appalachian Mountains]; later he was heavily involved in the affairs of one of the notorious Yazoo companies, operating in Georgia. He seems to have been most unscrupulous. His company's holdings in Georgia, amounting to more than ten million acres, were to be paid for in Georgia scrip, which was much depreciated. Henry bought up all these certificates that he could get his hands on, at ten cents on the dollar, and made a great profit on them by their rise in value when Hamilton put through his measure for having the central government assume the debts they represented. Undoubtedly it was this trait of unrestrained avarice which earned him the dislike of Mr. Jefferson, who said, rather contemptuously, that he was "insatiable in money."

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Patrick Henry was an inveterate and voracious engrosser of land lying beyond the deadline set by the British State [i.e., the Royal Proclamation of 1763 which prohibited English colonists from settling west of the Appalachian Mountains]; later he was heavily involved in the affairs of one of the notorious Yazoo companies, operating in Georgia. He seems to have been most unscrupulous. His company's holdings in Georgia, amounting to more than ten million acres, were to be paid for in Georgia scrip, which was much depreciated. Henry bought up all these certificates that he could get his hands on, at ten cents on the dollar, and made a great profit on them by their rise in value when Hamilton put through his measure for having the central government assume the debts they represented. Undoubtedly it was this trait of unrestrained avarice which earned him the dislike of Mr. Jefferson, who said, rather contemptuously, that he was "insatiable in money."" in the context of "Albert Jay Nock, Our Enemy, the State (1935) Ch 4, pt 2" to mean that wisdom is timeless.