Born in Scotland, his family moved to the United States when he was an infant, settling in Westchester County, north of New York City.

The location of the Faile mansion, Woodside, became the site of the American Bank Note Company Printing Plant.

The couple had nine children: Ann D., Edward, Thomas H., Charles V., Henry, Samuel, Mary E., Harriet, and Caroline.

[4] In 1821, Faile opened a wholesale grocery in an existing building at 236 Front Street in downtown Manhattan.

[9] Edward and his brother Thomas both retired in 1853, handing the firm over to their sons and to Richard Williams, changing the firm name to Faile, Williams, & Co.[1] The business was eventually taken over by Charles V. Faile, as a sole proprietorship, located at 130 Water Street.

[10] The business ran into financial troubles starting in 1879, when it made a large purchase of tea stocks at the peak of the market.

On November 25, 1882, the business failed due to losses from falling tea prices and fluctuations in the money market.

Prior to the failure of the business, the company was one of the largest and oldest tea distributors in New York City.

The mansion was described in Valentine's Manual of Old New York, as having an "imposing array of Doric columns", and as being "surrounded by a glorious forest".

[16] Furnishings included a pair of wooden armchairs whose provenance is traced to the 1620 landing of the Pilgrims at Plymouth Rock; these belonged to Charles V. and adorned his library.

The issue was whether John Fleetwood Marsh properly conveyed title to Barnard Bayley, from whom George Faile purchased the property.

Hoe invented a machine for stamping and dating tickets, based on a suggestion made by Faile.