There are conflicting reports on the location of his birth, with some sources saying he was born in the Province of Virginia, and others saying Hamilton County, Ohio (which did not exist until 1790); the identity of his parents are unknown.
In 1799 Smith along with his agent Reuben Kemper were the first US-based merchants to ship to Baton Rouge, taking nearly $10,000 worth of goods, primarily fine clothing and house furnishings.
Although Smith claimed he had no interest in Burr's plot to force secession of Spanish territories, he agreed to provide supplies for the proposed expedition.
These travels caused him to miss weeks of Senate sessions and led the Ohio legislature to charge him with dereliction of duty and to demand his resignation.
Although Smith ignored that demand, he found his troubles increasing as a court in Richmond, Virginia, indicted him in mid-1807 for participating in Burr's conspiracy.