Economics

Cover image: Adams, Abigail. Letter to John Adams, March 2, 1796. Adams Family Papers, http://www.masshist.org/digitaladams/archive/doc?id=L17960302aa&hi=1&query=economics&tag=text&archive=all&rec=2&start=0&numRecs=6 Accessed 30 May 2019.

In March of 1785 Abigail Adams’ wrote to Cotton Tufts, an Adams’ relative and agent, about her role in the family's finances: 

“Mr. A has been so long a statesman that I cannot get him to think enough upon his domestick affairs. He loves to have every thing as it should be, but does not wish to be troubled about them. He chuses I should write and think about them and give directions. Tho I am very willing to releive him from every care in my power, yet I think it has too much the appearence of weilding instead of sharing the Scepter.”

Abigail’s statement that she “give[s] directions” and welds “instead of shar[es] the Scepter” (“Scepter” is an ornamental staff held by a ruling monarch; figuratively, scepter means authority and control) illustrates that she held a vast majority of the power of the family's finances. Further, Abigail is asserting to Tufts that he should not belittle her role within the family's finances. When Abigail notes the prospect of “sharing the Scepter”, she is elaborating on a modern notion of sharing the financial responsibility within a marriage. Abigail's financial influence was a rarity of her time and illustrates her modernity, strength, and knowledge. 

Abigail's strength and knowledge of finances are due to her management of the Adams’ family farm during the years of the Revolution. With John away for great lengths of time on political and diplomatic missions, she remained home and managed the family's entire household, from finances to land management. 

Looking Guide: How might class have played a role in Abigail’s financial acumen during the Revolution?

She continued to be frugal while in Europe and often found the high cost of city living difficult to manage. The high cost of living was expressed when the Adams’ were preparing to be presented at court. As Abigail noted she had difficulty “finding an apartment...fit to inhabit under 200” Ultimately though, Abigail's wartime acumen paid off and they found an apartment that fit their budget.

Abigail's financial experience and frugality also contributed to her dislike of the lavish displays of wealth she saw around her while in Europe. This was conveyed when she was invited to gamble, a common eighteenth-century aristocratic pastime at one of the parties she was invited too as the wife of a diplomat. She explains that she went “with a determination not to play” but ultimately, “could not get of so I was Set down to a table with three perfect Strangers, and the Lady who was against me stated the Game at half a Guiney a peice.” Abigail was shocked by the expensive price of the game and “told her I thought it full high, but I knew she designd to win, so I said no more, but expected to lose.” In the end however it happened “otherways” and Abigail “won four Games of her” Yet despite the win, Abigail was too intelligent to be lured into gambling, rightfully commenting that “it was the luck of the cards rather than skill” and that “I never play when I can possibly avoid it, for I have not conquerd the dissagreeable feeling of receiving money for play.” She then went on to express shock and dismay at the gambling ladies:  “But such a set of Gamblers as the Ladies here are!! and Such a Life as they lead, good Heavens were reasonable Beings made for this?” She then told her sister how much she missed the more responsible American approach to money: “I will come and shelter myself in America from this Scene of dissipation” It seemed that despite Abigail's new role as the wife of a diplomat in a cosmopolitan city, Abigail always stayed true to her wartime frugality and her belief in sharing financial responsibility, even when her times suggested differently. This represents the modernity, patriotism, and intellect of Abigail Adams.

Looking Guide: What might Abigail’s judgments about the extravagant displays of money observed at the English court say about the values of America as a new nation?