George Washington Smith was born in East Liberty, Pennsylvania in 1876 (on George Washington's birthday), the son of a prominent Pennsylvania engineer. Raised in Philadelphia, he was able to study painting at the Pennsylvania Academy of Fine Arts. Later, he attended Harvard University to study architecture, but was unable to graduate due to his family's financial difficulties. He obtained employment as a draftsman in a Philadelphia architectural firm but was unsatisfied with the lifestyle this afforded him. Smith turned to bond trading and quickly became very successful.