Augustine Heard was born into a wealthy merchant family of Ipswich, Massachusetts. His father, John Heard (1744-1834), had made his fortune by trading with the West Indies, and his half-brother Daniel (1778-1801) also worked in foreign trade with the West Indies and China. Educated at Phillips Exeter Academy in New Hampshire, Augustine did not graduate and instead, in 1803, began working for a prominent Boston, Massachusetts merchant, Ebenezer Francis. Two years later, Heard embarked as supercargo to Calcutta on one of Francis' ships. Climbing the ranks of trading companies, Heard was, by 1812, captain of his first ship, the brig Caravan. He pursued his naval career for 18 years, becoming a renowned navigator and his feats became the subject of poems and stories. In 1818, Heard purchased 50 shares of the Suffolk Bank, a clearinghouse bank on State Street in Boston.
