Brothers Amos D. and James Y. Smith were among the leading textile investors in mid-nineteenth century Rhode Island. They and their descendants provided the capital behind several mills, and were active in a wide variety of other activities in the state.
The Smith family originated in Groton, Connecticut, where they had lived on the same homestead lot since 1652. Our subjects were both sons of sea captain Amos D. Smith Sr. (1778-1826) of Groton and his wife Priscilla Mitchell Smith (1781-1866). Amos Denison Smith 2nd (1805-1877) and his younger brother James Young Smith (1809-1876) arrived in Providence in 1826, working in the lumber trade for James Aborn. Soon afterward, the brothers started in the grocery trade, and also began investing in the textile industry. They acquired textile mills independently, and pooled their holdings in 1843 as A.D. & J.Y. Smith, which also continued to engage in the wholesale grocery trade. In the 1840s, the two brothers built adjoining houses on Hope Street on the east side of Providence, bounded by George, Cooke and Manning streets. Two of Amos' sons joined the business partnership in 1856, and it became A.D. & J.Y. Smith & Co. In 1862, James left the partnership, which then became A.D. Smith & Co. The company's holdings included the Franklin Manufacturing Co., which owned the Franklin and Merino mills in Johnston; the Providence Steam Milling Co., which owned the Durfee Mill and Steam Mill in Providence; the Smithville Manufacturing Company in Willimantic, Connecticut; and the Groton Manufacturing Company, which owned several mills in Woonsocket.
James Young Smith was also active politically, most notably serving as Mayor of Providence from 1855 to 1857, and as Governor of Rhode Island from 1863 to 1866. Immediately after leaving partnership with his brother in 1862, founded the James Y. Smith Manufacturing Company. Its name was later changed to the Elmwood Manufacturing Company in 1880. Smith's two sons-in-law, Charles A. Nichols and Horatio Rogers Jr., were both partners in the firm, which was liquidated in 1885.

Marriages:
[1] Sarah A. Franklin, 7 Nov 1827
[2] Amey Ann Mathewson, 8 Sep 1836