WEBSTER, Pelatiah, political economist, born in Lebanon, Connecticut, in 1725 ; died in Philadelphia, Pennsylvania, in September, 1795. He was graduated at Yale in 1746, studied theology, and preached in Greenwich, Massachusetts, in the winter of 1748-'9. About 1755 he engaged in business in Philadelphia, where he accumulated a small fortune, at the same time devoting himself to study and literary work. He was an active patriot during the Revolution, aiding the American cause with pen and purse, and in February, 1788, was seized by the British and confined for 132 days in the city jail. Part of his property, to the value of £500, was confiscated. He gave much time to the study of the currency, finance, and the resources of the country, and was often consulted on these matters by members of congress. In his first essay, in October, 1776, he strongly urged the laying of a tax to provide for the speedy redemption of the continental currency, and in 1779 he began in Philadelphia the publication of a series of " Essays on Free Trade and Finance," of which seven were issued, the last in 1785. His "Dissertation on the Political Union and Constitution of the Thirteen United States of North America" (Philadelphia, 1783) is mentioned by James Madison as having an influence in directing the public mind to the necessity of a better form of government. Mr. Webster also published "Essay on Credit" (1786) ; " Reasons for repealing the Act of the Legislature which took away the Charter of the Bank of North America" (1786); and "Political Essays on the Nature and Operation of Money, Public Finances, and other Subjects, published during the American War" (1791).