[2][3] Through his agents in Baltimore, New Orleans and Philadelphia, Baum attracted a great number of German immigrants to work in his various enterprises — steamboats, a sugar refinery, a foundry, and real estate.

[4] Baum founded the Western Museum, was active in the first public library in 1802, and was one of the main pillars of the First Presbyterian Church.

Benjamin Henry Latrobe, architect of the United States Capitol designed Baum's home, named the "Belmont".

[5] Baum completed construction in about 1820; the building, once lived in by Nicholas Longworth (the first) and David Sinton, is now the Taft Museum.

Baum was caught in the financial upheaval of 1819–20, and he was eventually forced to deed his home back to the Bank of the United States in 1825.