Thomas Wharton, the patriarch of Philadelphia's Wharton family, emigrated from England to Philadelphia, probably sometime during the 1680s. Wharton, a Quaker merchant, was a member of Philadelphia's Common Council. He and his wife, Rachel, had eight children, a number of whom became prominent in the city's mercantile affairs. This tradition was continued through subsequent generations as well.

The Wharton family papers contains correspondence, ledgers, account statements and indentures created and collected by members of the Wharton family over more than 200 years. Items in the collection primarily concern Thomas Wharton and his brothers Samuel, Joseph, William, Charles, and Isaac, as well as cousin Thomas Wharton Jr. This collection includes materials relating to their mercantile business dealings in Pennsylvania as well as with businesses and agents in London, Nantucket, Newfoundland, Halifax and Quebec.

Thomas's brother, Samuel, was a merchant and partner in Baynton, Wharton & Morgan, and he also had interests in politics and land speculation.