The credit crisis of 1772 is triggered…

June 1772 CE

The credit crisis of 1772 is triggered when, following the flight of their partner Alexander Fordyce to France, the London banking house of Neal, James, Fordyce and Down (which has been speculating in East India Company stock) suspends payment June 10.

The resultant panic causes other banks, particularly in Scotland, to fail, extends to Amsterdam and the Thirteen Colonies of British North America, and threatens the East India Company with bankruptcy.

Locations
London Middlesex United Kingdom View →

Groups
Netherlands, United Provinces of the (Dutch Republic) View → Delaware Bay, Lower Counties on the (English Colony) View → Maryland, Province of (English Colony) View → Virginia (English Crown Colony) View → Britain, Kingdom of Great View → Scotland View → East India Company, British (United Company of Merchants of England Trading to the East Indies) View → North Carolina, Province of (British Colony) View → South Carolina, Province of (British Colony) View → Georgia, Province of (British Colony) View → Neal, James, Fordyce and Dow View → Douglas, Heron & Company View →

Topics
Colonization of the Americas, British View → crisis of 1772 View →

Commodities
Grains and produce View →

Subjects
Commerce View → Government View → Custom and Law View → Finance View →

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People: Baldomero Espartero, Prince of Vergara
Location: Saint-Gildas-de-Rhuys Bretagne France
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