Emperor Norton

Joshua Abraham Norton (1818 – 1880) was an immigrated resident of San Francisco, California, who in 1859 proclaimed himself "Norton I, Emperor of the United States." Commonly known as Emperor Norton, he took the secondary title "Protector of Mexico" in 1863, after Napoleon III invaded Mexico. Born in England and raised in South Africa, Norton immigrated to San Francisco in 1849, where he made a successful living as a commodities trader and real estate speculator. However, he was financially ruined following a failed bid to corner the rice market during a shortage prompted by a famine in China. He bought a shipload of Peruvian rice at 12 cents per pound (26 ¢/kg), but more Peruvian ships arrived in port, causing the price to drop sharply to three cents per pound (6.6 ¢/kg). He then lost a protracted lawsuit in which he tried to void his rice contract...