Truman Bishop Ransom was born in Woodstock, Vermont on September 20, 1802. At age 13 he was apprenticed as a chair-maker and painter. At age 16 he began attendance at the American Literary, Scientific and Military Academy, now called Norwich University, alternating semesters with work for his employer in Quechee, Vermont to pay his tuition. A Democrat, Ransom ran unsuccessfully for the United States House of Representatives in 1840. He ran again in 1843, losing twice to Jacob Collamer. In 1846 he was the unsuccessful Democratic nominee for Lieutenant Governor.