Periodical Index Detail
Colonial Williamsburg Journal
| Title | The Credit Crunch of 1772 ; The sucker that did go down |
| Issue | Volume 37 Number 01, (CWJ, Winter 2015) |
| Description | The London financial panic of 1772, triggered by the failure of the bank of Neale, James, Fordyce and Down and the subsequent collapse of the Scots banking system, caused a credit crisis in colonial, debt-ridden America. The inability of southern colonial planters to repay debt or to pay taxes imposed by the British Parliament proved an additional issue in the run-up to the American Revolution. |
| Author | Gardner, Andrew |
| Pages | 52-59 |