Basil Pearce grew up in a beautiful old home overlooking the St. Johns River in East Palatka, Florida. His family included his parents, Senator and Mrs. B. C. Pearce Sr., and his sister Nancy. Senator Pearce was also a partner in the Merwin and Pearce Farms in East Palatka. Basil was attending Antioch College in Yellow Springs, Ohio, when World War II broke out.

According to his sister, Nancy, Basil was slated to graduate in June 1942. He finished early and received his degree while at sub school. He served aboard the U. S. S. Tang and was presumed lost when the sub went down.

The Tang Memorial is located across the river from the home where Basil Pearce lived The Basil Pearce Chapter of the Submarine Veterans of World War II was the first chapter named for a lost submariner.