This post presents the parents of Lydia, Mr. and Mrs. Barney Smith. Mr. Barney Smith was a wealthy importer of English goods, and is also known for having purchased the estate of Royal Governor Hutchinson (last royal Gov. of Massachusetts) in 1812, known as Unquety. The house presented an impressive Greek Revival style architecture, built overlooking Boston Harbor.[This Governor remained loyal to the royal authorities and was forced to leave the new world with nothing, thus it can be surmised that Barney got a good deal from this situation.] Barney seems to have been involved in a new means of transport, the commercial railway. He was one of 4 directors on the newly formed co. Granite Railway in 1826, the first company to have a commercial contract to carry freight by rail. The railyway moved freight, particularly stone.
From The History of Milton 1640- 1877 [editor Albert Teele pp 134-5]
Mr. Smith was of medium size, of fine form, with light complexion, and a profusion of silky hair of the purest white; his usual dress was a blue broadcloth with bright buttons, and a buff vest. His manners were graceful and pleasant. His kind feelings and ample means prompted him to do so much for the benefit of the community around him, and particularly to his neighbors less fortunate than himself, both in health and sickness, that he was universally beloved and respected while living, and his death which ocurred in 1828, was a public loss to the neighborhood.
NOTE the signs in the painting that this individual was a merchant [similarly to my Meeker]...he is holding papers. A contract possibly? The formulaic style for painting "holding the contract" is very typical, where the paper(s) is held in place between the thumb and index finger. The customer would have paid more for the painting, to include the hand and paper.