Category Archives: Financial Facts

Credit Crisis of 1772. In the mid 1760’s, the British empire having colonized different states, accumulated enormous wealth. This extraordinary achievement created overoptimism and rapid credit expansion by British banks. All these came to an unceremonious end when Alexander Fordyce, one of the partners of the banking house: “Neal, James, Fordyce and Down”, fled toContinue reading ““Pay Me my Money” : the British credit crises of 1772.”