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vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#East_India_Company"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>East India Company</span> </div> </a> <ul id="toc-East_India_Company-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Effects_on_the_American_Colonies" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Effects_on_the_American_Colonies"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Effects on the American Colonies</span> </div> </a> <ul id="toc-Effects_on_the_American_Colonies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" 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</div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">British banking crisis</div> <p class="mw-empty-elt"> </p> <figure typeof="mw:File/Thumb"><a href="/wiki/File:A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_(BM_1855,0609.1955).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3b/A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg/400px-A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg" decoding="async" width="400" height="278" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/3b/A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg/600px-A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/3b/A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg/800px-A_view_of_the_deluge_of_Scotch_paper_currency_for_English_gold_%28BM_1855%2C0609.1955%29.jpg 2x" data-file-width="2134" data-file-height="1484" /></a><figcaption>A view of the deluge of Scotch paper currency for English gold. A Scotsman in the air astride a broom is carrying off six large money-bags, three being inscribed "£2,000", "£10,000", and "£50,000". He scatters banknotes or bills; men on the ground, some sinking into a bog. exclaim in horror at his action. In the centre Britannia is seated, she says: "This Scotch paper diet has brought me to a consumption". In the foreground (r.) <a href="/wiki/Lord_North" class="mw-redirect" title="Lord North">Lord North</a> seated</figcaption></figure> <p>The <b>British credit crisis of 1772–1773</b>, also known as the <b>crisis of 1772</b>, or the <b>panic of 1772</b>, was a peacetime <a href="/wiki/Financial_crisis" title="Financial crisis">financial crisis</a> which originated in London and then spread to <a href="/wiki/Scotland" title="Scotland">Scotland</a> and the <a href="/wiki/Dutch_Republic" title="Dutch Republic">Dutch Republic</a>.<sup id="cite_ref-sheridan_1-0" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> It has been described as the first modern banking crisis faced by the <a href="/wiki/Bank_of_England" title="Bank of England">Bank of England</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> New colonies, as <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> observed, had an insatiable demand for capital. Accompanying the more tangible evidence of wealth creation was a rapid expansion of credit and banking, leading to a rash of speculation and dubious financial innovation (<a href="/wiki/Venture_capitalism" class="mw-redirect" title="Venture capitalism">venture capitalism</a>). In today's language, they bought <a href="/wiki/Shares" class="mw-redirect" title="Shares">shares</a> on margin.<sup id="cite_ref-gsb.stanford.edu_3-0" class="reference"><a href="#cite_note-gsb.stanford.edu-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>In June 1772 <a href="/wiki/Alexander_Fordyce" title="Alexander Fordyce">Alexander Fordyce</a> lost £300,000 <a href="/wiki/Short_(finance)" title="Short (finance)">shorting</a> <a href="/wiki/East_India_Company" title="East India Company">East India Company</a> stock, leaving his partners Henry Neale, William James, and Richard Down liable for an estimated £243,000 in debts.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> As this information became public, within two weeks, eight banks in London and later around 20 banks across Europe collapsed.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> According to Paul Kosmetatos "lurid tales abounded in the press for a time of merchants cutting their throats, shooting or hanging themselves".<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> In 1960, it was believed the boom and subsequent crisis were most pronounced in Scotland.<sup id="cite_ref-sheridan_1-1" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> It triggered a liquidity crunch in Amsterdam in December, but the effects were of short duration. <sup id="cite_ref-gsb.stanford.edu_3-1" class="reference"><a href="#cite_note-gsb.stanford.edu-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The credit boom came to an abrupt end, and the ensuing crisis harmed the East India Trading Company, the <a href="/wiki/West_Indies" title="West Indies">West Indies</a> in general, and the North American <a href="/wiki/Plantation_economy" title="Plantation economy">colonial planters</a> specifically.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Before_the_crisis">Before the crisis</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=1" title="Edit section: Before the crisis"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:ONL_(1887)_1.463_-_Dividend_Day_at_the_Bank,_1770.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg/220px-ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg" decoding="async" width="220" height="149" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg/330px-ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/32/ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg/440px-ONL_%281887%29_1.463_-_Dividend_Day_at_the_Bank%2C_1770.jpg 2x" data-file-width="2848" data-file-height="1924" /></a><figcaption><a href="/wiki/Dividend" title="Dividend">Dividend</a> Day at the Bank of England, 1770</figcaption></figure> <p>From the mid-1760s to the early 1770s, the credit boom, supported by merchants and bankers, facilitated the expansion of manufacturing, mining, and internal improvements in both Britain and the <a href="/wiki/Thirteen_Colonies" title="Thirteen Colonies">thirteen colonies</a>. Until the outbreak of the credit crisis, the period from 1770 to 1772 was considered prosperous and politically calm in both Britain and the American colonies. As a result of the <a href="/wiki/Townshend_Act" class="mw-redirect" title="Townshend Act">Townshend Act</a> and the breakdown of the <a href="/wiki/Boston_Non-importation_agreement" title="Boston Non-importation agreement">Boston Non-importation agreement</a>, the period was marked by tremendous growth in exports from Britain to the American colonies. These massive exports were supported by credit that British merchants granted to American planters.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>Problems, however, lay behind the credit boom and the prosperity of both British and colonial economies as <a href="/wiki/Speculation" title="Speculation">speculation</a> and the establishment of dubious financial institutions rose. For example, in Scotland, bankers adopted "the notorious practice of drawing and redrawing fictitious <a href="/wiki/Negotiable_instrument#Bill_of_exchange" title="Negotiable instrument">bills of exchange</a>...in an effort to expand credit".<sup id="cite_ref-sheridan_1-2" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> For the purpose of increasing the supply of money, the bank of <a href="/wiki/Douglas,_Heron_%26_Company" title="Douglas, Heron & Company">Douglas, Heron & Company</a>, known as the "Ayr Bank", was established in <a href="/wiki/Ayr,_Scotland" class="mw-redirect" title="Ayr, Scotland">Ayr, Scotland</a> in 1769; however, after the original capital was exhausted, the firm raised money by a chain of bills on London.<sup id="cite_ref-sheridan_1-3" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> This method could only temporarily support economic development, but it promoted false optimism in the market. The warning signals of the impending crisis, such as overstocked shelves and warehouses in the colonies, were overlooked by British merchants and American planters.<sup id="cite_ref-sheridan_1-4" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Effects_in_London">Effects in London</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=2" title="Edit section: Effects in London"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:A_(four_dice_depicted)_Macaroni._Gambler_(BM_1915,0313.151).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/13/A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg/220px-A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg" decoding="async" width="220" height="297" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/13/A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg/330px-A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/13/A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg/440px-A_%28four_dice_depicted%29_Macaroni._Gambler_%28BM_1915%2C0313.151%29.jpg 2x" data-file-width="1187" data-file-height="1600" /></a><figcaption><a href="/wiki/Alexander_Fordyce" title="Alexander Fordyce">Alexander Fordyce</a>, a <a href="/wiki/Macaroni_(fashion)" title="Macaroni (fashion)">macaroni</a> gambler with four dice.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>In July 1770 <a href="/wiki/Alexander_Fordyce" title="Alexander Fordyce">Alexander Fordyce</a> collaborated with two planters on <a href="/wiki/Grenada" title="Grenada">Grenada</a> and borrowed 240,000 <a href="/wiki/Guilder" title="Guilder">guilders</a> in bearer bonds from <a href="/wiki/Hope_%26_Co." title="Hope & Co.">Hope & Co.</a> in Amsterdam; he was backed by <a href="/wiki/Harman_and_Co." title="Harman and Co.">Harman and Co.</a> and <a href="/wiki/Sir_William_Pulteney,_5th_Baronet" title="Sir William Pulteney, 5th Baronet">Sir William Pulteney</a>.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> He was a partner in the banking house <a href="/wiki/Neale,_James,_Fordyce_and_Downe" title="Neale, James, Fordyce and Downe">Neale, James, Fordyce and Downe</a> in <a href="/wiki/Threadneedle_Street" title="Threadneedle Street">Threadneedle Street</a> (London), and correspondent of the Ayr Bank.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> He bet heavily against EIC share price, which went awry.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Fordyce had speculated away the bank's <a href="/wiki/Assets" class="mw-redirect" title="Assets">assets</a>. On Monday 8 June 1772, it became clear Fordyce failed.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> The next day, he fled to France to avoid debt repayment. He used the profits from other investments to cover the losses.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> The initial distress in London peaked on 22 June, now known as <a href="/wiki/Black_Monday" title="Black Monday">Black Monday</a>.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> The whole <a href="/wiki/City_of_London" title="City of London">City of London</a> was in uproar when Fordyce was declared <a href="/wiki/Bankrupt" class="mw-redirect" title="Bankrupt">bankrupt</a>.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> His goods and estate were seized and Neale, James, Fordyce, and Down, the largest buyer of Scottish bills, were forced to <a href="/wiki/Insolvency" title="Insolvency">insolvency</a>. </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>So great are the losses and inconveniences sustained by many individuals from a late bankruptcy, that a great number of eminent merchants and gentlemen of fortune at a meeting held for that purpose, have come to resolution not to keep their cash at any Bank, who jointly or separately by themselves or agents, are known to sport in the alley in what are called bulls or bears, since by one unlucky stroke in this illegal traffic, usually called speculation, hundreds of their creditors may be ruined; a species of gaming that can no more be justified in persons so largely intrusted with the property of others, than that of gambling at the hazard tables."<sup id="cite_ref-auto3_21-0" class="reference"><a href="#cite_note-auto3-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>There was great uncertainty about the size of the shock.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Economic growth at that period was highly dependent on the use of credit, which was largely based upon people's confidence in the banks. As confidence started ebbing, paralysis of the credit system followed: crowds of <a href="/wiki/Creditors" class="mw-redirect" title="Creditors">creditors</a> gathered at the banks and requested debt repayment in cash or attempted to withdraw their deposits. As a result, twenty banking houses went bankrupt by the end of June, and many other firms endured hardships during the crisis.<sup id="cite_ref-books.google.co.uk_23-0" class="reference"><a href="#cite_note-books.google.co.uk-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> At that time, the <i><a href="/wiki/Gentleman%27s_Magazine" class="mw-redirect" title="Gentleman's Magazine">Gentleman's Magazine</a></i> commented, "No event for 50 years past has been remembered to have given so fatal a blow both to trade and public credit".<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> In the first week of January 1773, trade and finance between London and Amsterdam came to a halt.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> The Bank of England came to the rescue on Sunday 10 January, allowing anyone who wished to withdraw specie from the bank to do so. Many British merchants quickly sent money to their ailing Dutch correspondents.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> The strain upon the reserves of the Bank of England was not eased until towards the end of 1773. </p><p>After the crisis, a dramatic rise in the number of bankruptcies was observed. The average number of bankruptcies in London from 1764 to 1771 was 310, but the number rose to 484 in 1772 and 556 in 1773.<sup id="cite_ref-sheridan_1-5" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Banks that were deeply involved in speculation endured hard times during the crisis. For example, the partners of the Ayr Bank paid no less than £663,397 in order to fully repay their creditors. Owing to this process, only 112 out of 226 partners remained solvent by August 1775. In contrast, banks that had never engaged in speculation did not bear any losses and gained prestige for their outstanding performance despite the turbulence.<sup id="cite_ref-hamilton_27-0" class="reference"><a href="#cite_note-hamilton-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p><p>In December 1774 Fordyce was forced to sell his estate in Roehampton to <a href="/wiki/Sir_Joshua_Vanneck,_1st_Baronet" title="Sir Joshua Vanneck, 1st Baronet">Sir Joshua Vanneck, 1st Baronet</a>; the <a href="/wiki/Plaintiffs" class="mw-redirect" title="Plaintiffs">plaintiffs</a> were Hope & Co and <a href="/wiki/Harman_and_Co." title="Harman and Co.">Harman and Co.</a><sup id="cite_ref-auto_28-0" class="reference"><a href="#cite_note-auto-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-auto2_29-0" class="reference"><a href="#cite_note-auto2-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-auto1_30-0" class="reference"><a href="#cite_note-auto1-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Effects_in_Scotland">Effects in Scotland</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=3" title="Edit section: Effects in Scotland"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In November 1769 the moneyed interests in Scotland founded the Ayr Bank to assume many of the responsibilities associated with a <a href="/wiki/Central_bank" title="Central bank">central bank</a>, principally standing ready to advance notes to Scottish banks as a 'lender of last resort.'<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> Like other banks established in the form of limited liability companies, the Ayr Bank had the right to put banknotes into circulation, a power it used excessively.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> By 1772 the Ayr bank had branches in Edinburgh and <a href="/wiki/Dumfries" title="Dumfries">Dumfries</a>, as well as representative offices in Glasgow, Inverness, Kelso, Montrose, Campbeltown, and several other places. Among the company's 139 shareholders were well-known people such as the <a href="/wiki/Henry_Scott,_3rd_Duke_of_Buccleuch" title="Henry Scott, 3rd Duke of Buccleuch">Duke of Buccleuch</a>, the <a href="/wiki/Patrick_McDouall-Crichton,_6th_Earl_of_Dumfries" title="Patrick McDouall-Crichton, 6th Earl of Dumfries">Earl of Dumfries</a>, the <a href="/wiki/William_Douglas,_4th_Duke_of_Queensberry" title="William Douglas, 4th Duke of Queensberry">Earl of March</a>, <a href="/wiki/Sir_Adam_Fergusson,_3rd_Baronet" title="Sir Adam Fergusson, 3rd Baronet">Sir Adam Fergusson</a>, <a href="/wiki/Patrick_Heron_(1736%E2%80%931803)" title="Patrick Heron (1736–1803)">Patrick Heron</a> and <a href="/wiki/Archibald_Douglas,_1st_Baron_Douglas" title="Archibald Douglas, 1st Baron Douglas">Archibald Douglas</a>, but no bankers. </p><p>On 12 June the news of the failure of <a href="/wiki/Neale,_James,_Fordyce_and_Downe" title="Neale, James, Fordyce and Downe">Neale, James, Fordyce and Downe</a> reached Scotland.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> After the weekend a <a href="/wiki/Bank_run" title="Bank run">run</a> began on its Edinburgh branch.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> The Ayr bank collapsed on 24 June,<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> bringing other smaller banks down with it having extended credit too liberally to colonial planters.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> It was said that the Scotch have ten times more paper money in proportion to their <a href="/wiki/Bullion_coin" title="Bullion coin">specie</a>, than ever the English had.<sup id="cite_ref-auto3_21-1" class="reference"><a href="#cite_note-auto3-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> The collapse of the bank was a major blow to the great Scottish <a href="/wiki/Landed_gentry" title="Landed gentry">landowning families</a>, but seems to have hit the Scottish economy mildly. The Ayr bank managed to reopen for a brief period between September 1772 and August 1773, but a general meeting of the partners held on 12 August decided to dissolve the Company permanently. The bank may have actually spurred the economic development of Scotland, but its failure weakened public confidence in land banking schemes, leaving gold and silver as the most acceptable security for bank notes. </p><p>According to <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> in <a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a>, "Being the managers rather of other people's money than of their own, it cannot be well expected, that they should watch over it with the same anxious vigilance with which the partners in a private co-partnery frequently watch over their own."<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> In his <i>History of Banking in Scotland</i> (Chapter X) Andrew William Kerr wrote: </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>The crisis of 1772, which formed the subject of our last chapter, although sharp and disastrous in its immediate effects, passed off more quickly and easily than might have been expected ... The harvest of 1773 was fairly good, the fisheries excellent, the cattle trade active, and money cheap. Hardly had affairs resumed a satisfactory aspect, when the dark cloud of war cast its shadow over the land.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup></p></blockquote> <p><br /> </p> <div class="mw-heading mw-heading2"><h2 id="Effects_on_Europe">Effects on Europe</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=4" title="Edit section: Effects on Europe"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Hope-keizersgracht.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Hope-keizersgracht.jpg/220px-Hope-keizersgracht.jpg" decoding="async" width="220" height="187" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Hope-keizersgracht.jpg/330px-Hope-keizersgracht.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Hope-keizersgracht.jpg/440px-Hope-keizersgracht.jpg 2x" data-file-width="2148" data-file-height="1824" /></a><figcaption>Keizersgracht 444–448 was owned by Hope & Co</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Rm1867.JPG" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Rm1867.JPG/220px-Rm1867.JPG" decoding="async" width="220" height="293" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Rm1867.JPG/330px-Rm1867.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Rm1867.JPG/440px-Rm1867.JPG 2x" data-file-width="2736" data-file-height="3648" /></a><figcaption>Herengracht 478 was owned by the Cliffords</figcaption></figure> <p>Around 1770, <a href="/wiki/Mortgaging" class="mw-redirect" title="Mortgaging">mortgaging</a> became very widespread; in the same year the <a href="/wiki/Van_Aerssen_van_Sommelsdijck" class="mw-redirect" title="Van Aerssen van Sommelsdijck">Van Aerssen van Sommelsdijck</a> family managed to sell its share to the city of Amsterdam in <a href="/wiki/Suriname_(Dutch_colony)" class="mw-redirect" title="Suriname (Dutch colony)">Suriname</a>.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> The negotiations set up by the Cliffords in Surinam, the Van Seppenwoldes, Ter Borch, Hope & Co on <a href="/wiki/Grenada" title="Grenada">Grenada</a>, <a href="/wiki/Sint_Eustatius" title="Sint Eustatius">Sint Eustatius</a>, and <a href="/wiki/Saint_Croix" title="Saint Croix">Saint Croix</a> issued bonds to finance the loans. Such packages could contain loans to 20 or more plantations, and before 1772, at least 40 of these bundles were issued, their names as unspecific as L.a. A, B or C. Investors thus had little knowledge of what they invested in, and lent their money purely on good faith and the word of the fund director. The Dutch fund managers were also hit personally once their subprime system met its demise.<sup id="cite_ref-auto5_42-0" class="reference"><a href="#cite_note-auto5-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> In December 1772 <a href="/wiki/Clifford_family_(bankers)" title="Clifford family (bankers)">Clifford & Co</a>, a well established Amsterdam banking firm which obtained plantation loans as part of its portfolio declared <a href="/wiki/Insolvency" title="Insolvency">insolvency</a>.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>The fall of the house of Cliffort and Sons, and of many others, carried away in it, attributed by some more to the lordly and ill-regulated conduct of the directors of the English Bank, supported by the Ministry and Parliament, than to the actual action trade, though the prudent conduct of the same is not denied, caused confidence to cease, the payers of bills of exchange to close their purses. They again refused to give credence to paper money and demanded the outstanding funds: while there was now more paper money than ready money circulating in the trade, this course was not only halted, but the lack of ready money increased by the hand; while everyone claimed the debts he owed.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p></blockquote> <p>In January, the <a href="/wiki/Bank_of_Amsterdam" title="Bank of Amsterdam">Bank of Amsterdam</a> funded a city-operated loan facility for distressed merchants.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> The merchant banking firm Clifford & Sons broke eventually, followed by more of its counterparts like Herman & Johan van Seppenwolde and Abraham Ter Borch. The <a href="/wiki/Credit_crunch" title="Credit crunch">credit crunch</a> was consequential for the Dutch plantation colonies in the West Indies and particularly for Surinam, where colonial agriculture was almost exclusively carried out with credit from Amsterdam.<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>The cause of this failure, like Fordyce in London, was the over speculation of East India stock. This precipitated a string of further failures and a general state of crisis throughout Amsterdam – according to <a href="/wiki/Charles_Wilson_(historian)" title="Charles Wilson (historian)"> Wilson</a>, 'Conditions ... were even worse than in 1763 ... there was paper enough but no cash; hardly a man on the Bourse or in the bill business could produce 50,000 guilders; credit was non-existent, the circulation of money had stopped and so had the discount business; loans on bonds and goods were scarce, and only a little business was being done on foreign securities. Some houses stood seven to eight hundred guilders in debt.<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup></p></blockquote><p> In Amsterdam, a worse catastrophe was averted by rapid imports of precious metals.<sup id="cite_ref-boerse.de_49-0" class="reference"><a href="#cite_note-boerse.de-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> In January 1773, <a href="/wiki/Joshua_Vanneck,_1st_Baron_Huntingfield" title="Joshua Vanneck, 1st Baron Huntingfield">Joshua Vanneck</a> and his brother were involved by <a href="/wiki/Thomas_Walpole" title="Thomas Walpole">Thomas Walpole</a> when British merchants sent £500,000, gold and <a href="/wiki/Piastre" title="Piastre">piastre</a> to Amsterdam.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-sro.sussex.ac.uk_52-0" class="reference"><a href="#cite_note-sro.sussex.ac.uk-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p><p>A few bankruptcies also shook the economies of Stockholm and St. Petersburg a little later, but overall, Europe was relatively less affected.<sup id="cite_ref-auto4_53-0" class="reference"><a href="#cite_note-auto4-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Clapham,_J._1944_p._248_54-0" class="reference"><a href="#cite_note-Clapham,_J._1944_p._248-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> The Danish <a href="/wiki/Kurantbanken" title="Kurantbanken">Kurantbanken</a> was nationalized in March 1773 with the assistance of <a href="/wiki/Heinrich_Carl_von_Schimmelmann" title="Heinrich Carl von Schimmelmann">Heinrich Carl von Schimmelmann</a>; the shareholders received the fixed interest bonds instead of shares on plantations in the <a href="/wiki/Danish_West_Indies" title="Danish West Indies">Danish West Indies</a>.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> Clifford was insolvent and given postponement of payment. <a href="/wiki/Hope_%26_Co." title="Hope & Co.">Hope & Co.</a>, the leading banking house, suffered from a bad deal and the fall of the EIC-stocks. The turnover with the <a href="/wiki/Amsterdam_Exchange_Bank" class="mw-redirect" title="Amsterdam Exchange Bank">Amsterdam Exchange Bank</a> plummeted from more than 50 million guilders in 1772 to 30 million in 1773.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> <a href="/wiki/George_Colebrooke" title="George Colebrooke">George Colebrooke</a> went bankrupt. </p> <div class="mw-heading mw-heading2"><h2 id="East_India_Company">East India Company</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=5" title="Edit section: East India Company"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:E_India_House.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/E_India_House.jpg/220px-E_India_House.jpg" decoding="async" width="220" height="127" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/E_India_House.jpg/330px-E_India_House.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9c/E_India_House.jpg/440px-E_India_House.jpg 2x" data-file-width="1086" data-file-height="628" /></a><figcaption>Engraving of <a href="/wiki/East_India_House" title="East India House">East India House</a>, Leadenhall Street (1766)</figcaption></figure> <p>The <a href="/wiki/East_India_Company" title="East India Company">East India Company</a>, once primarily a trading entity with a limited territory, found itself assigned to oversee a significantly larger region. However, its antiquated organization was ill-suited for this expanded responsibility. At the London Stock Exchange, however, there was still the expectation that the Company would soon be paying higher dividends, an expectation shared by the Dutch capital owners who were used to investing part of their capital in English funds. This optimism gave rise to increasing speculation boom in the <a href="/wiki/Futures_exchange" title="Futures exchange">futures trade</a> in securities in both London and Amsterdam.<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> </p><p>In May 1772 the EIC stock price rose significantly. In summer the EIC's debt suddenly skyrocketed – in India alone, the company had bill debts of £1.2 million. Meanwhile, speculation in futures in East India stock had weakened the London money market. The <a href="/wiki/Great_Bengal_famine_of_1770" title="Great Bengal famine of 1770">Great Bengal famine of 1770</a>, which was exacerbated by the actions of the <a href="/wiki/East_India_Company" title="East India Company">East India Company</a>, led to massive shortfalls in expected land values for the company. The East India Company bore heavy losses and its stock price fell significantly. Hope & Co. was stuck with a considerable positions in EIC and <a href="/wiki/Bank_of_England" title="Bank of England">BoE</a> stock. On 19 September, the value of its shares dropped by 14%.<sup id="cite_ref-auto4_53-1" class="reference"><a href="#cite_note-auto4-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p><p>The root of this crisis in relation to the East India Company came from the prediction by <a href="/wiki/Isaac_de_Pinto" title="Isaac de Pinto">Isaac de Pinto</a> that 'peace conditions plus an abundance of money would push East Indian shares to 'exorbitant heights.'<sup id="cite_ref-sro.sussex.ac.uk_52-1" class="reference"><a href="#cite_note-sro.sussex.ac.uk-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> As leading Dutch banking houses (<a href="/wiki/Andries_Pels" title="Andries Pels">Andries Pels</a> and <a href="/wiki/Clifford_family_(bankers)" title="Clifford family (bankers)">Clifford & Son</a>) had invested extensively in the stock of the East India Company, they suffered the loss along with the other shareholders. In this manner, the credit crisis spread from London to Amsterdam.<sup id="cite_ref-books.google.co.uk_23-1" class="reference"><a href="#cite_note-books.google.co.uk-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Clapham,_J._1944_p._248_54-1" class="reference"><a href="#cite_note-Clapham,_J._1944_p._248-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Regulating_Act_of_1773" class="mw-redirect" title="Regulating Act of 1773">Regulating Act of 1773</a> significantly reformed the East India Company's practices. It was complemented by the <a href="/wiki/Tea_Act" title="Tea Act">Tea Act</a> 1773, which had a principal objective that was to reduce the massive amount of tea held by the financially troubled British East India Company in its London warehouses and to help the financially struggling company survive. The East India Company had eighteen million pounds of tea sitting in British warehouses unsold.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> On 14 January 1773, the directors of the EIC asked for a government loan and unlimited access to the tea market in the American colonies, both of which were granted.<sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> In August, the Bank of England assisted the EIC with a loan.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Effects_on_the_American_Colonies">Effects on the American Colonies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=6" title="Edit section: Effects on the American Colonies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Shepherd_-_The_British_colonies_in_North_America,_1763-1775_in_Historical_Atlas,_1911.xcf" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf/220px-Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf.png" decoding="async" width="220" height="156" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf/330px-Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf/440px-Shepherd_-_The_British_colonies_in_North_America%2C_1763-1775_in_Historical_Atlas%2C_1911.xcf.png 2x" data-file-width="1896" data-file-height="1348" /></a><figcaption>Shepherd – The British colonies in North America, 1763–1775 in <i>Historical Atlas</i>, 1911</figcaption></figure> <p>The credit crisis of 1772 greatly deteriorated debtor-creditor relations between the thirteen American colonies and Britain, especially in the South. The southern colonies, which produced tobacco, rice, and indigo and exported them to Britain, were granted higher credit than the northern colonies, where competitive commodities were produced. It was estimated that in 1776, the total amount of debt that British merchants claimed from the colonies equaled £2,958,390; Southern colonies had claims of £2,482,763, nearly 85 per cent of the total amount.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup> Before the crisis, the commission system of trading prevailed in the southern plantation colonies. The merchants in London helped the planters sell their crops and shipped what planters wanted to purchase in London as returns. The planters were usually granted credit for twelve months without interest and at five per cent on the unpaid balance after the deadline.<sup id="cite_ref-sheridan_1-6" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>News of the crash in Scotland reached <a href="/wiki/Thomas_Jefferson" title="Thomas Jefferson">Thomas Jefferson</a> in a letter dated 8 July 1772. After the outbreak of the crisis, British merchants urgently called for debt repayment, and American planters faced the problem of how to pay the debt. Because of the economic boom before the crisis, planters were not prepared for large-scale debt liquidation. As the credit system broke down, bills of exchange were rejected, and almost all heavy gold was sent to Britain in December 1773. Without the support of credit, planters were unable to continue producing and selling their goods. Since the whole market became crippled, the fallen price of their goods also intensified the pressure on planters.<sup id="cite_ref-sheridan_1-7" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>The crisis of 1772 also set off a chain of events related to the controversy over the colonial tea market. The <a href="/wiki/East_India_Company" title="East India Company">East India Company</a> was one of the firms that suffered the hardest hits in the crisis. Failing to pay or renew its loan from the <a href="/wiki/Bank_of_England" title="Bank of England">Bank of England</a>, the firm sought to sell its eighteen million pounds of tea from its British warehouses to the American colonies. The EIC had to market its tea to the colonies through middlemen, so the high price made its tea unfavorable compared to tea that was smuggled to or produced locally in the colonies. </p><p>In May 1773, Parliament imposed a three <a href="/wiki/Pence" class="mw-redirect" title="Pence">pence</a> tax for each pound of tea sold and allowed the firm to sell directly through its own agents.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Tea_Act" title="Tea Act">Tea Act</a> reduced the price of tea and enabled the East India Company's monopoly over the colonial tea market. Furious about how the British government and the East India Company controlled the colonial tea trade, citizens in Charleston, Philadelphia, New York and Boston rejected the imported tea, and these protests eventually led to the <a href="/wiki/Boston_Tea_Party" title="Boston Tea Party">Boston Tea Party</a> in December 1773.<sup id="cite_ref-Schwarz_65-0" class="reference"><a href="#cite_note-Schwarz-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p><p>Bills of exchange had become so scarce by December 1773 that all of the dollars and heavy gold had been sent to Great Britain for remittance.<sup id="cite_ref-sheridan_1-8" class="reference"><a href="#cite_note-sheridan-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> The crisis worsened the relationship of the North American colonies and Britain after the British introduced controversial legislation for the colonies in an attempt to remedy the crisis, which made the crisis one of the causes of the <a href="/wiki/American_Revolutionary_War" title="American Revolutionary War">American Revolutionary War</a>.<sup id="cite_ref-Schwarz_65-1" class="reference"><a href="#cite_note-Schwarz-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=7" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://www.ft.com/content/fdbdb9c1-3b0c-4f56-add7-bc4a7dc043fc?accessToken=zwAF_dud6d3AkdP9vbnBOwxPVtOt17xKfcBD_A.MEUCIDTAMjHIhM3v9y2ZSN3uuC6vYEndHfLGZDh1VTdrn9cKAiEA3ayrom45hcnLGQDuKs7GTvEunLCdaP22Swr_DFQ9tqo&sharetype=gift&token=5ccbb258-1d8b-453e-aa7f-85c4e7c49fe0">The shadow banking crisis of 1772 by Robin Wigglesworth. In: <i>Financial Times</i>, April 17, 2023</a></li> <li><a rel="nofollow" class="external text" href="https://globalhistory.org.uk/2021/05/in-search-of-the-first-domino/">Geest, Patrick van der (2021) In Search of the First Domino: The Credit Crisis of 1772–1773 in a Global History Perspective</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20220327055218/https://globalhistory.org.uk/2021/05/in-search-of-the-first-domino/">Archived</a> 27 March 2022 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></li> <li><a rel="nofollow" class="external text" href="https://www.cato.org/sites/cato.org/files/pubs/pdf/rb55-5.pdf">Goodspeed, Tyler (2016) Legislating Instability</a></li> <li><a rel="nofollow" class="external text" href="https://www.academia.edu/5294274/The_crisis_of_the_subprime_plantation_mortgages_in_the_Dutch_West_Indies_1750-1775">Hoonhout, Bram (2013) The crisis of the subprime plantation mortgages in the Dutch West Indies, 1750–1775</a></li> <li>Jong, Abe de, Kooijmans, Tim and Koudijs, Peter (2020) Intermediation in Mortgage-Backed Securities: The Plantation Business of F.W. Hudig, 1759–1797 . Available at SSRN: <a rel="nofollow" class="external text" href="https://ssrn.com/abstract=3610648">Plantation Mortgage-Backed Securities: Evidence from Surinam in the 18th Century</a> or <a rel="nofollow" class="external text" href="https://dx.doi.org/10.2139/ssrn.3610648">Plantation Mortgage-Backed Securities: Evidence from Surinam in the 18th Century</a></li> <li><a rel="nofollow" class="external text" href="https://academic.oup.com/ereh/advance-article-abstract/doi/10.1093/ereh/hey013/5048760?redirectedFrom=fulltext">Kosmetatos, Paul (2018) Last resort lending before Henry Thornton? The Bank of England’s role in containing the 1763 and 1772–1773 British credit crises, <i>European Review of Economic History.</i></a></li> <li><a rel="nofollow" class="external text" href="https://repositori.upf.edu/bitstream/handle/10230/19919/1343.pdf?sequence=1&isAllowed=y">Koudijs, Peter and Hans-Joachim Voth (2011) Optimal delay: distressed trading in 18th c. 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Accessed 9 Apr. 2022.</li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=British_credit_crisis_of_1772%E2%80%931773&action=edit&section=8" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-sheridan-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-sheridan_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-sheridan_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-sheridan_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-sheridan_1-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-sheridan_1-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-sheridan_1-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-sheridan_1-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-sheridan_1-7"><sup><i><b>h</b></i></sup></a> <a href="#cite_ref-sheridan_1-8"><sup><i><b>i</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2114853?seq=1">Sheridan, R.B. 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Retrieved <span class="nowrap">23 March</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Bank+of+Scotland%3A+A+History%2C+1695%E2%80%931995&rft.date=1996&rft.isbn=978-0748607570&rft.aulast=Saville&rft.aufirst=Richard&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DUSQkqlHTfnAC%26q%3D1772%2Bbanking%26pg%3DPA156&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text">Clapham, J. (1944) <i>The Bank of England</i>, pp. 246–247</span> </li> <li id="cite_note-auto3-21"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto3_21-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto3_21-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhillips1894" class="citation web cs1">Phillips, Maberly (8 June 1894). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=GlnRDjeaHCsC&pg=PA32">"A History of Banks, Bankers, & Banking in Northumberland, Durham, and North Yorkshire: Illustrating the Commercial Development of the North of England, from 1755 to 1894, with Numerous Portraits, Facsimiles of Notes, Signatures, Documents, &c"</a>. E. Wilson & Company – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=A+History+of+Banks%2C+Bankers%2C+%26+Banking+in+Northumberland%2C+Durham%2C+and+North+Yorkshire%3A+Illustrating+the+Commercial+Development+of+the+North+of+England%2C+from+1755+to+1894%2C+with+Numerous+Portraits%2C+Facsimiles+of+Notes%2C+Signatures%2C+Documents%2C+%26c&rft.pub=E.+Wilson+%26+Company&rft.date=1894-06-08&rft.aulast=Phillips&rft.aufirst=Maberly&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DGlnRDjeaHCsC%26pg%3DPA32&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://repositori.upf.edu/bitstream/handle/10230/19919/1343.pdf?sequence=1&isAllowed=y">"Koudijs & Voth (2011) Optimal delay: distressed trading in 18th c. Amsterdam, p. 25"</a> <span class="cs1-format">(PDF)</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Koudijs+%26+Voth+%282011%29+Optimal+delay%3A+distressed+trading+in+18th+c.+Amsterdam%2C+p.+25&rft_id=https%3A%2F%2Frepositori.upf.edu%2Fbitstream%2Fhandle%2F10230%2F19919%2F1343.pdf%3Fsequence%3D1%26isAllowed%3Dy&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-books.google.co.uk-23"><span class="mw-cite-backlink">^ <a href="#cite_ref-books.google.co.uk_23-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-books.google.co.uk_23-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSutherland1984" class="citation book cs1">Sutherland, Lucy (1984). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/politicsfinancei0000suth"><i>Politics & Finance in the Eighteenth Century</i></a></span>. Bloomsbury Academic. p. <a rel="nofollow" class="external text" href="https://archive.org/details/politicsfinancei0000suth/page/446">446</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0907628460" title="Special:BookSources/978-0907628460"><bdi>978-0907628460</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">23 March</span> 2013</span>. <q>Neal, James, Fordyce and Down.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Politics+%26+Finance+in+the+Eighteenth+Century&rft.pages=446&rft.pub=Bloomsbury+Academic&rft.date=1984&rft.isbn=978-0907628460&rft.aulast=Sutherland&rft.aufirst=Lucy&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fpoliticsfinancei0000suth&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><i>The Gentleman's Magazine and Historical Chronicle</i> (London: June 1772) MDCCLXXII, p. 293</span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBerryPaganelliSmith2013" class="citation book cs1">Berry, Christopher J.; Paganelli, Maria Pia; Smith, Craig (16 May 2013). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=pI0V4EIffMIC&dq=scottish+newspaper+1772+1773+Amsterdam+crisis&pg=PR4-IA56"><i>The Oxford Handbook of Adam Smith</i></a>. OUP Oxford. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0191654664" title="Special:BookSources/978-0191654664"><bdi>978-0191654664</bdi></a> – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Oxford+Handbook+of+Adam+Smith&rft.pub=OUP+Oxford&rft.date=2013-05-16&rft.isbn=978-0191654664&rft.aulast=Berry&rft.aufirst=Christopher+J.&rft.au=Paganelli%2C+Maria+Pia&rft.au=Smith%2C+Craig&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DpI0V4EIffMIC%26dq%3Dscottish%2Bnewspaper%2B1772%2B1773%2BAmsterdam%2Bcrisis%26pg%3DPR4-IA56&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGlasner2013" class="citation book cs1">Glasner, David (16 December 2013). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=VOBcAgAAQBAJ&dq=scottish+newspaper+1772+1773+Amsterdam+crisis&pg=PA122"><i>Business Cycles and Depressions: An Encyclopedia</i></a>. Routledge. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781136545207" title="Special:BookSources/9781136545207"><bdi>9781136545207</bdi></a> – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Business+Cycles+and+Depressions%3A+An+Encyclopedia&rft.pub=Routledge&rft.date=2013-12-16&rft.isbn=9781136545207&rft.aulast=Glasner&rft.aufirst=David&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DVOBcAgAAQBAJ%26dq%3Dscottish%2Bnewspaper%2B1772%2B1773%2BAmsterdam%2Bcrisis%26pg%3DPA122&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-hamilton-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-hamilton_27-0">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2598492">"The Failure of the Ayr Bank, 1772"</a> <i>The Economic History Review</i></span> </li> <li id="cite_note-auto-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-auto_28-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRoss1794" class="citation web cs1">Ross, Matthew (8 June 1794). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=u35hAAAAcAAJ&dq=Guildhall+Alexander+Fordyce&pg=PA64">"May 16, 1794 ... Information for A. Houston, ... J. Macdowall ... and J. Gammill, ... partners of the Greenock Banking Company, defenders: against Messrs. Scott Moncrieff and Dale, Cashiers of the Royal Bank of Scotland ... pursuers. [With an appendix, separately paged.]"</a> – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=May+16%2C+1794+...+Information+for+A.+Houston%2C+...+J.+Macdowall+...+and+J.+Gammill%2C+...+partners+of+the+Greenock+Banking+Company%2C+defenders%3A+against+Messrs.+Scott+Moncrieff+and+Dale%2C+Cashiers+of+the+Royal+Bank+of+Scotland+...+pursuers.+%5BWith+an+appendix%2C+separately+paged.%5D&rft.date=1794-06-08&rft.aulast=Ross&rft.aufirst=Matthew&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Du35hAAAAcAAJ%26dq%3DGuildhall%2BAlexander%2BFordyce%26pg%3DPA64&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-auto2-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-auto2_29-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://books.google.com/books?id=zlc3AAAAYAAJ&dq=Guildhall+Alexander+Fordyce&pg=PA669">"The Town and Country Magazine, Or, Universal Repository of Knowledge, Instruction, and Entertainment"</a>. A. Hamilton. 8 June 1774 – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Town+and+Country+Magazine%2C+Or%2C+Universal+Repository+of+Knowledge%2C+Instruction%2C+and+Entertainment&rft.pub=A.+Hamilton&rft.date=1774-06-08&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Dzlc3AAAAYAAJ%26dq%3DGuildhall%2BAlexander%2BFordyce%26pg%3DPA669&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-auto1-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-auto1_30-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://aanhsorg.files.wordpress.com/2018/05/ayr-bank-crash.pdf,">"Frank Brady, p. 37"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Frank+Brady%2C+p.+37&rft_id=https%3A%2F%2Faanhsorg.files.wordpress.com%2F2018%2F05%2Fayr-bank-crash.pdf%2C&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span><sup class="noprint Inline-Template"><span style="white-space: nowrap;">[<i><a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span title=" Dead link tagged October 2023">permanent dead link</span></a></i><span style="visibility:hidden; color:transparent; padding-left:2px">‍</span>]</span></sup></span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.gresham.ac.uk/watch-now/how-would-adam-smith-fix-financial-crisis">"How would Adam Smith fix the financial crisis?"</a>. <i>www.gresham.ac.uk</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.gresham.ac.uk&rft.atitle=How+would+Adam+Smith+fix+the+financial+crisis%3F&rft_id=https%3A%2F%2Fwww.gresham.ac.uk%2Fwatch-now%2Fhow-would-adam-smith-fix-financial-crisis&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text"><a href="/wiki/J.G._van_Dillen" class="mw-redirect" title="J.G. van Dillen">J.G. van Dillen</a> (1970) Van Rijkdom en Regenten, p. 610</span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.electricscotland.com/history/banking/chapter9.htm">"History of Banking in Scotland"</a>. <i>www.electricscotland.com</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.electricscotland.com&rft.atitle=History+of+Banking+in+Scotland&rft_id=https%3A%2F%2Fwww.electricscotland.com%2Fhistory%2Fbanking%2Fchapter9.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><a href="/wiki/A_History_of_Banking_in_All_the_Leading_Nations" title="A History of Banking in All the Leading Nations">A History of Banking in All the Leading Nations</a>, p. 190</span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text">Clapham, J (1944), p. 163</span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><a href="/wiki/Tyler_Goodspeed" title="Tyler Goodspeed">Tyler Goodspeed</a>: <i>Legislating Instability: Adam Smith, Free Banking, and the Financial Crisis of 1772</i>, p. 4</span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.douglashistory.co.uk/history/Businesses/douglasheronbank.htm">"Douglas Heron Bank"</a>. <i>www.douglashistory.co.uk</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.douglashistory.co.uk&rft.atitle=Douglas+Heron+Bank&rft_id=http%3A%2F%2Fwww.douglashistory.co.uk%2Fhistory%2FBusinesses%2Fdouglasheronbank.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bankofengland.co.uk/-/media/boe/files/museum/slavery-and-the-bank-large-print-guide.pdf">"Slavery and the Bank"</a> <span class="cs1-format">(PDF)</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Slavery+and+the+Bank&rft_id=https%3A%2F%2Fwww.bankofengland.co.uk%2F-%2Fmedia%2Fboe%2Ffiles%2Fmuseum%2Fslavery-and-the-bank-large-print-guide.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text">A. Smith (1976), vol. 2, pp. 264–265</span> </li> <li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKerr1908" class="citation book cs1">Kerr, Andrew William (1908). <a rel="nofollow" class="external text" href="https://archive.org/details/historyofbanking00kerruoft"><i>History of Banking in Scotland</i></a> (2nd ed.). London: A. & C. Black. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/historyofbanking00kerruoft/page/110">110</a>–111.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=History+of+Banking+in+Scotland&rft.place=London&rft.pages=110-111&rft.edition=2nd&rft.pub=A.+%26+C.+Black&rft.date=1908&rft.aulast=Kerr&rft.aufirst=Andrew+William&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fhistoryofbanking00kerruoft&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.dbnl.org/tekst/wolb002gesc01_01/wolb002gesc01_01.pdf">J. 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Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9783319709086" title="Special:BookSources/9783319709086"><bdi>9783319709086</bdi></a> – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+1772%E2%80%9373+British+Credit+Crisis&rft.pub=Springer&rft.date=2018&rft.isbn=9783319709086&rft.aulast=Kosmetatos&rft.aufirst=Paul&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DOK9SDwAAQBAJ%26dq%3DSir%2BJoshua%2BVanneck%2B1772%2BAmsterdam%26pg%3DPA200&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-sro.sussex.ac.uk-52"><span class="mw-cite-backlink">^ <a href="#cite_ref-sro.sussex.ac.uk_52-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-sro.sussex.ac.uk_52-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://sro.sussex.ac.uk/id/eprint/55337/1/Joanna_Rudd_New_Commercial_Voices_Paper.pdf">"The International Lender of Last Resort – An Historical Perspective by Joanna Rudd"</a> <span class="cs1-format">(PDF)</span>. 15 November 2012.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+International+Lender+of+Last+Resort+%E2%80%93+An+Historical+Perspective+by+Joanna+Rudd&rft.date=2012-11-15&rft_id=http%3A%2F%2Fsro.sussex.ac.uk%2Fid%2Feprint%2F55337%2F1%2FJoanna_Rudd_New_Commercial_Voices_Paper.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-auto4-53"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto4_53-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto4_53-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKluit1865" class="citation web cs1">Kluit, Willem Pieter Sautijn (8 June 1865). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=0Q5VAAAAcAAJ">"De Amsterdamsche Beurs in 1763 en 1773: eene bijdrage tot de geschiedenis van den handel"</a>. 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Johansen (1966) "J. G. Büsch's economic theory and his influence on the Danish economic and social debate", <i>Scandinavian Economic History Review</i>, 14:1, 18–38, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F03585522.1966.10407646">10.1080/03585522.1966.10407646</a></span> </li> <li id="cite_note-56"><span class="mw-cite-backlink"><b><a href="#cite_ref-56">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAndersen2016" class="citation book cs1">Andersen, Steffen Elkiær (1 November 2016). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=mt1sDQAAQBAJ&dq=Kurantbanken+1773+Schimmelmann&pg=PA57"><i>The Origins and Nature of Scandinavian Central Banking</i></a>. Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9783319397504" title="Special:BookSources/9783319397504"><bdi>9783319397504</bdi></a> – via Google Books.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Origins+and+Nature+of+Scandinavian+Central+Banking&rft.pub=Springer&rft.date=2016-11-01&rft.isbn=9783319397504&rft.aulast=Andersen&rft.aufirst=Steffen+Elki%C3%A6r&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Dmt1sDQAAQBAJ%26dq%3DKurantbanken%2B1773%2BSchimmelmann%26pg%3DPA57&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABritish+credit+crisis+of+1772%E2%80%931773" class="Z3988"></span></span> </li> <li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBuist2012" class="citation book cs1">Buist, Marten Gerbertus (6 December 2012). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=zbIjCQAAQBAJ&dq=Fordyce+Alexander+Clifford+Hope&pg=PA21"><i>At Spes non Fracta: Hope & Co. 1770–1815</i></a>. 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Sutherland 1952, pp. 249–251</span> </li> <li id="cite_note-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-62">^</a></b></span> <span class="reference-text">Clapham, J. (1944) <i>The Bank of England</i>, p. 250</span> </li> <li id="cite_note-63"><span class="mw-cite-backlink"><b><a href="#cite_ref-63">^</a></b></span> <span class="reference-text">Samuel Flagg Bernis, <i>Jay’s Treaty, A Study in Commerce and Diplomacy</i> (New York: The Macmillan Company, 1923). Print. p. 103. <sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources"><span title="Please supply an ISBN for this book.">ISBN missing</span></a></i>]</sup></span> </li> <li id="cite_note-64"><span class="mw-cite-backlink"><b><a href="#cite_ref-64">^</a></b></span> <span class="reference-text"><a href="/wiki/Lucy_Sutherland" title="Lucy Sutherland">Lucy S. Sutherland</a>, "<a href="/wiki/Sir_George_Colebrooke" class="mw-redirect" title="Sir George Colebrooke">Sir George Colebrooke</a>’s World Corner in Alum, 1771–73," <i>Economic History</i>, III (Feb. 1936). pp. 248–269.</span> </li> <li id="cite_note-Schwarz-65"><span class="mw-cite-backlink">^ <a href="#cite_ref-Schwarz_65-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Schwarz_65-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.americanheritage.com/content/1772two-hundred-and-twenty-five-years-ago">"Tea and Antipathy"</a> <i>American Heritage</i></span> </li> </ol></div></div> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output 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.navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Template:United States – Commonwealth of Nations recessions"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Template talk:United States – Commonwealth of Nations recessions"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Special:EditPage/Template:United States – Commonwealth of Nations recessions"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economic_expansions_and_recessions_in_the_United_States_and_Commonwealth_of_Nations_countries" style="font-size:114%;margin:0 4em"><a href="/wiki/List_of_economic_expansions_in_the_United_States" title="List of economic expansions in the United States">Economic expansions</a> and <a href="/wiki/List_of_recessions_in_the_United_States" title="List of recessions in the United States">recessions in the United States</a> and <a href="/wiki/Member_states_of_the_Commonwealth_of_Nations" title="Member states of the Commonwealth of Nations">Commonwealth of Nations countries</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Aggregate_demand" title="Aggregate demand">Aggregate demand</a>/<a href="/wiki/Aggregate_supply" title="Aggregate supply">Supply</a> <ul><li><a href="/wiki/Effective_demand" title="Effective demand">Effective demand</a></li> <li><a href="/wiki/General_glut" title="General glut">General glut</a></li> <li><a href="/wiki/AD%E2%80%93AS_model" title="AD–AS model">Model</a></li> <li><a href="/wiki/Overproduction" title="Overproduction">Overproduction</a></li> <li><a href="/wiki/Paradox_of_thrift" title="Paradox of thrift">Paradox of thrift</a></li> <li><a href="/wiki/Nominal_rigidity" title="Nominal rigidity">Price-and-wage stickiness</a></li> <li><a href="/wiki/Underconsumption" title="Underconsumption">Underconsumption</a></li></ul></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Deflation" title="Deflation">Deflation</a>/<a href="/wiki/Inflation" title="Inflation">Inflation</a> <ul><li><a href="/wiki/Chronic_inflation" title="Chronic inflation">Chronic</a></li> <li><a href="/wiki/Classical_dichotomy" title="Classical dichotomy">Classical dichotomy</a></li> <li><a href="/wiki/Disinflation" title="Disinflation">Disinflation</a></li> <li><a href="/wiki/Money_supply" title="Money supply">Money supply</a>/<a href="/wiki/Demand_for_money" title="Demand for money">demand</a></li> <li><a href="/wiki/Neutrality_of_money" title="Neutrality of money">Neutrality of money</a></li> <li><a href="/wiki/Price_level" title="Price level">Price level</a></li> <li><a href="/wiki/Real_versus_nominal_value_(economics)" class="mw-redirect" title="Real versus nominal value (economics)">Real and nominal values</a></li> <li><a href="/wiki/Velocity_of_money" title="Velocity of money">Velocity of money</a></li></ul></li> <li><a href="/wiki/Economic_expansion" title="Economic expansion">Economic expansion</a> <ul><li><a href="/wiki/Economic_recovery" title="Economic recovery">Recovery</a></li> <li><a href="/wiki/Economic_stagnation" title="Economic stagnation">Stagnation</a></li> <li><a href="/wiki/List_of_economic_expansions_in_the_United_States" title="List of economic expansions in the United States">U.S. expansions</a></li></ul></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rate</a> <ul><li><a href="/wiki/Nominal_interest_rate" title="Nominal interest rate">Nominal interest rate</a></li> <li><a href="/wiki/Real_interest_rate" title="Real interest rate">Real interest rate</a></li> <li><a href="/wiki/Yield_curve" title="Yield curve">Yield curve</a>/<a href="/wiki/Inverted_yield_curve" title="Inverted yield curve">Inverted</a></li></ul></li> <li><a href="/wiki/Recession" title="Recession">Recession</a> <ul><li><a href="/wiki/Balance_sheet_recession" title="Balance sheet recession">Balance sheet</a></li> <li><a href="/wiki/Economic_depression" title="Economic depression">Depression</a></li> <li><a href="/wiki/Global_recession" title="Global recession">Global</a></li> <li><a href="/wiki/Rolling_recession" title="Rolling recession">Rolling</a></li> <li><a href="/wiki/Recession_shapes" title="Recession shapes">Shapes</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_Kingdom" title="List of recessions in the United Kingdom">U.K. recessions</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_States" title="List of recessions in the United States">U.S. recessions</a></li></ul></li> <li><a href="/wiki/Shock_(economics)" title="Shock (economics)">Shock</a> <ul><li><a href="/wiki/Demand_shock" title="Demand shock">Demand</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply</a></li></ul></li> <li><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a> <ul><li><a href="/wiki/Sahm_rule" title="Sahm rule">Sahm rule</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Slump_(15th_century)" title="Great Slump (15th century)">Great Slump</a> (1430–1490)</li> <li><a href="/wiki/War_of_the_Spanish_Succession" title="War of the Spanish Succession">Slump of 1706</a></li> <li><a href="/wiki/Great_Frost_of_1709" title="Great Frost of 1709">Great Frost of 1709</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">British credit crisis of 1772–1773</a> <ul><li>1772–1774; <a class="mw-selflink-fragment" href="#Effects_in_London">England</a></li> <li><a class="mw-selflink-fragment" href="#Scotland">Scotland</a></li> <li><a class="mw-selflink selflink">American Colonies</a></li></ul></li> <li>1785–1788</li> <li><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a>/<a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a> (1789–1793)</li> <li><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a> (1796–1799)</li> <li>1802–1804</li> <li>1807–1810</li> <li>1812</li> <li><a href="/wiki/Post-Napoleonic_Depression" title="Post-Napoleonic Depression">Post-Napoleonic Depression</a> (1815–1821)</li> <li>1822–23</li> <li><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a> (1825–1826)</li> <li>1828–29</li> <li>1833–34</li> <li><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a> (1836–1838 and 1839–1843)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Victorian_era" title="Victorian era">Early Victorian Britain</a>/<br /><a href="/wiki/History_of_the_United_States_(1849%E2%80%931865)" title="History of the United States (1849–1865)">Civil War-era United States</a><br />(1840–1870)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>1845–46</li> <li><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a> (1847–1848)</li> <li>1853–54</li> <li><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a> (1857–1858)</li> <li>1860–61</li> <li><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a> (1865–1867)</li> <li><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869–1870)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Gilded_Age" title="Gilded Age">Gilded Age</a>/<br /><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Long_Depression" title="Long Depression">Long Depression</a>/<a href="/wiki/The_Great_Deflation" title="The Great Deflation">Great Deflation</a> <ul><li>1873–1879; <a href="/wiki/Long_Depression#United_Kingdom" title="Long Depression">United Kingdom</a></li> <li><a href="/wiki/Long_Depression#United_States" title="Long Depression">United States</a></li></ul></li> <li><a href="/wiki/Depression_of_1882%E2%80%931885" title="Depression of 1882–1885">Depression of 1882–1885</a></li> <li>1887–88</li> <li><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890–1891)</li> <li><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a> (1893–1897)</li> <li>1899–1900</li> <li><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a> (1902–1904)</li> <li><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a> (1907–1908)</li> <li><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a> (1910–1912)</li> <li><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a> (1913–14)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Post%E2%80%93World_War_I_recession" title="Post–World War I recession">Post–World War I recession</a> (1918–1919)</li> <li><a href="/wiki/Depression_of_1920%E2%80%931921" title="Depression of 1920–1921">Depression of 1920–1921</a></li> <li><a href="/wiki/Roaring_Twenties" title="Roaring Twenties">Roaring Twenties</a></li> <li>1923–1924</li> <li>1926–1927</li> <li><a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> <ul><li>1929–1939; <a href="/wiki/Great_Depression_in_Australia" title="Great Depression in Australia">Australia</a></li> <li><a href="/wiki/Great_Depression_in_Canada" title="Great Depression in Canada">Canada</a></li> <li><a href="/wiki/Great_Depression_in_India" title="Great Depression in India">India</a></li> <li><a href="/wiki/History_of_New_Zealand" title="History of New Zealand">New Zealand</a></li> <li><a href="/wiki/Great_Depression_in_South_Africa" title="Great Depression in South Africa">South Africa</a></li> <li><a href="/wiki/Great_Depression_in_the_United_Kingdom" title="Great Depression in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Great_Depression_in_the_United_States" title="Great Depression in the United States">United States</a></li></ul></li> <li><a href="/wiki/Recession_of_1937%E2%80%931938" title="Recession of 1937–1938">Recession of 1937–1938</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>1945</li> <li><a href="/wiki/Recession_of_1949" title="Recession of 1949">Recession of 1949</a> (1948–1949)</li> <li><a href="/wiki/Recession_of_1953" title="Recession of 1953">Recession of 1953</a> (1953–1954)</li> <li><a href="/wiki/Recession_of_1958" title="Recession of 1958">Recession of 1958</a> (1957–1958)</li> <li><a href="/wiki/Recession_of_1960%E2%80%931961" title="Recession of 1960–1961">Recession of 1960–1961</a></li> <li><a href="/wiki/Recession_of_1969%E2%80%931970" title="Recession of 1969–1970">Recession of 1969–1970</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1973%E2%80%931975_recession" title="1973–1975 recession">1973–1975 recession</a> <ul><li><a href="/wiki/1973%E2%80%931975_recession#United_Kingdom" title="1973–1975 recession">United Kingdom</a></li> <li><a href="/wiki/1973%E2%80%931975_recession#United_States" title="1973–1975 recession">United States</a></li></ul></li> <li><a href="/wiki/Early_1980s_recession" title="Early 1980s recession">Early 1980s recession</a> <ul><li>1980–1982; <a href="/wiki/Early_1980s_recession#Canada" title="Early 1980s recession">Canada</a></li> <li><a href="/wiki/Early_1980s_recession#United_Kingdom" title="Early 1980s recession">United Kingdom</a></li> <li><a href="/wiki/Early_1980s_recession_in_the_United_States" title="Early 1980s recession in the United States">United States</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1990s_United_States_boom" title="1990s United States boom">1990s United States boom</a></li> <li><a href="/wiki/Early_1990s_recession" title="Early 1990s recession">Early 1990s recession</a> <ul><li>1990–1991; <a href="/wiki/Early_1990s_recession_in_Australia" title="Early 1990s recession in Australia">Australia</a></li> <li><a href="/wiki/Early_1990s_recession#Canada" title="Early 1990s recession">Canada</a></li> <li><a href="/wiki/Early_1990s_recession#United_Kingdom" title="Early 1990s recession">United Kingdom</a></li> <li><a href="/wiki/Early_1990s_recession_in_the_United_States" title="Early 1990s recession in the United States">United States</a></li></ul></li> <li><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></li> <li><a href="/wiki/Early_2000s_recession" title="Early 2000s recession">Early 2000s recession</a> (2001)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2007–present)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> <ul><li>2007–2009; <a href="/wiki/Great_Recession_in_Oceania#Australia" title="Great Recession in Oceania">Australia</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Bangladesh" title="Great Recession in Asia">Bangladesh</a></li> <li><a href="/wiki/Great_Recession_in_the_Americas#Canada" title="Great Recession in the Americas">Canada</a></li> <li><a href="/wiki/Great_Recession_in_Asia#India" title="Great Recession in Asia">India</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Malysia" title="Great Recession in Asia">Malaysia</a></li> <li><a href="/wiki/Great_Recession_in_Oceania#New_Zealand" title="Great Recession in Oceania">New Zealand</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Pakistan" title="Great Recession in Asia">Pakistan</a></li> <li><a href="/wiki/Great_Recession_in_Africa" title="Great Recession in Africa">South Africa</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Sri_Lanka" title="Great Recession in Asia">Sri Lanka</a></li> <li><a href="/wiki/Great_Recession_in_Europe#United_Kingdom" title="Great Recession in Europe">United Kingdom</a></li> <li><a href="/wiki/Great_Recession_in_the_United_States" title="Great Recession in the United States">United States</a></li></ul></li> <li><a href="/wiki/COVID-19_recession" title="COVID-19 recession">COVID-19 recession</a> <ul><li>2020–2022; <a href="/wiki/COVID-19_recession#Australia" title="COVID-19 recession">Australia</a></li> <li><a href="/wiki/COVID-19_recession#Bangladsh" title="COVID-19 recession">Bangladesh</a></li> <li><a href="/wiki/COVID-19_recession#Belize" title="COVID-19 recession">Belize</a></li> <li><a href="/wiki/COVID-19_recession#Botswana" title="COVID-19 recession">Botswana</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Canada" title="Economic impact of the COVID-19 pandemic in Canada">Canada</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_India" title="Economic impact of the COVID-19 pandemic in India">India</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Malaysia" title="Economic impact of the COVID-19 pandemic in Malaysia">Malaysia</a></li> <li><a href="/wiki/COVID-19_recession#Namibia" title="COVID-19 recession">Namibia</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_New_Zealand" title="Economic impact of the COVID-19 pandemic in New Zealand">New Zealand</a></li> <li><a href="/wiki/COVID-19_pandemic_in_Singapore#Economic_impact" title="COVID-19 pandemic in Singapore">Singapore</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_Kingdom" title="Economic impact of the COVID-19 pandemic in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_States" title="Economic impact of the COVID-19 pandemic in the United States">United States</a></li> <li><a href="/wiki/COVID-19_recession#Zambia" title="COVID-19 recession">Zambia</a></li></ul></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Financial_crises" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Financial_crises" title="Template:Financial crises"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Financial_crises" title="Template talk:Financial crises"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Financial_crises" title="Special:EditPage/Template:Financial crises"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_crises" style="font-size:114%;margin:0 4em"><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crises</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/Bank_run" title="Bank run">Bank run</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_crunch" title="Credit crunch">Credit crunch</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></span></li> <li><span class="nowrap"><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Debt_crisis" title="Debt crisis">Debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis" title="Energy crisis">Energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_contagion" title="Financial contagion">Financial contagion</a></span> <ul><li><span class="nowrap"><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Flash_crash" title="Flash crash">Flash crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquidity_crisis" title="Liquidity crisis">Liquidity crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Accounting_liquidity" title="Accounting liquidity">Accounting</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquid_capital" title="Liquid capital">Capital</a></span></li> <li><span class="nowrap"><a href="/wiki/Funding_liquidity" title="Funding liquidity">Funding</a></span></li> <li><span class="nowrap"><a href="/wiki/Market_liquidity" title="Market liquidity">Market</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Minsky_moment" title="Minsky moment">Minsky moment</a></span></li> <li><span class="nowrap"><a href="/wiki/Social_crisis" title="Social crisis">Social crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Pre-<a href="/wiki/Commercial_revolution" title="Commercial revolution">1000</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Financial_crisis_of_33" title="Financial crisis of 33">Financial crisis of 33 CE</a></span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> (235–284 CE)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Great_Bullion_Famine" title="Great Bullion Famine">Great Bullion Famine</a> (c. 1400–c. 1500)</span></li> <li><span class="nowrap"><a href="/wiki/The_Great_Debasement" title="The Great Debasement">The Great Debasement</a> (1544–1551)</span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic stock market crashes</a> (c. 1600–1760)</span></li> <li><span class="nowrap"><i><a href="/wiki/Kipper_und_Wipper" title="Kipper und Wipper">Kipper und Wipper</a></i> (1621–1623)</span></li> <li><span class="nowrap"><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania crash</a> (1637)</span></li> <li><span class="nowrap"><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble crash</a> (1720)</span></li> <li><span class="nowrap"><a href="/wiki/Mississippi_Company" title="Mississippi Company">Mississippi bubble crash</a> (1720)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Amsterdam_banking_crisis_of_1763" title="Amsterdam banking crisis of 1763">Amsterdam banking crisis of 1763</a></span></li> <li><span class="nowrap"><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal bubble crash</a> (1769–1784)</span></li> <li><span class="nowrap"><a class="mw-selflink selflink">British credit crisis of 1772–1773</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic financial collapse</a> (c. 1780–1795)</span></li> <li><span class="nowrap"><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a></span></li> <li><span class="nowrap"><a href="/wiki/Danish_state_bankruptcy_of_1813" title="Danish state bankruptcy of 1813">Danish state bankruptcy of 1813</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Post-Napoleonic Irish grain price and land use shocks</a> (1815–1816)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/European_potato_failure" title="European potato failure">European potato failure</a> (1845–1856)</span> <ul><li><span class="nowrap"><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Irish Famine</a></span></li> <li><span class="nowrap"><a href="/wiki/Highland_Potato_Famine" title="Highland Potato Famine">Highland Potato Famine</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></span></li> <li><span class="nowrap"><a href="/wiki/Paris_Bourse_crash_of_1882" title="Paris Bourse crash of 1882">Paris Bourse crash of 1882</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1884" title="Panic of 1884">Panic of 1884</a></span></li> <li><span class="nowrap"><a href="/wiki/Arendal_crash" title="Arendal crash">Arendal crash</a> (1886)</span></li> <li><span class="nowrap"><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890)</span></li> <li><span class="nowrap"><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1890–1893)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Australian_banking_crisis_of_1893" title="Australian banking crisis of 1893">Australian banking crisis of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1894)" title="Black Monday (1894)">Black Monday</a> (1894)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1896" title="Panic of 1896">Panic of 1896</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></span></li> <li><span class="nowrap"><a href="/wiki/Shanghai_rubber_stock_market_crisis" title="Shanghai rubber stock market crisis">Shanghai rubber stock market crisis</a> (1910)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_early_Soviet_Russia" title="Hyperinflation in early Soviet Russia">Early Soviet hyperinflation</a> (1917–1924)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Weimar Republic hyperinflation</a> (1921–1923)</span></li> <li><span class="nowrap"><a href="/wiki/Sh%C5%8Dwa_financial_crisis" title="Shōwa financial crisis">Shōwa financial crisis</a> (1927)</span></li> <li><span class="nowrap"><a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">Wall Street Crash of 1929</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1930" title="Panic of 1930">Panic of 1930</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_War_II" title="World War II">Wartime period</a><br />(1939–1945)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Greece" title="Hyperinflation in Greece">Greek hyperinflation</a> (1941–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hungarian_peng%C5%91#Hyperinflation" title="Hungarian pengő">Hungarian pengő hyperinflation</a> (1945–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Kennedy_Slide_of_1962" title="Kennedy Slide of 1962">Kennedy Slide of 1962</a></span></li> <li><span class="nowrap"><a href="/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1" class="new" title="1963–1965 Indonesian hyperinflation (page does not exist)">1963–1965 Indonesian hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a> (1973–1980)</span></li> <li><span class="nowrap"><a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Secondary_banking_crisis_of_1973%E2%80%931975" title="Secondary banking crisis of 1973–1975">Secondary banking crisis of 1973–1975</a></span></li> <li><span class="nowrap"><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a> (1973–1982)</span></li> <li><span class="nowrap"><a href="/wiki/Latin_American_debt_crisis" title="Latin American debt crisis">Latin American debt crisis</a> (1975–1982)</span></li> <li><span class="nowrap"><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 British currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1980–1982)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1982–1994)</span></li> <li><span class="nowrap"><a href="/wiki/Souk_Al-Manakh_stock_market_crash" title="Souk Al-Manakh stock market crash">Souk Al-Manakh stock market crash</a> (1982)</span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></span></li> <li><span class="nowrap"><a href="/wiki/1983_Israel_bank_stock_crisis" title="1983 Israel bank stock crisis">1983 Israel bank stock crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Saturday_(1983)" title="Black Saturday (1983)">Black Saturday (1983)</a></span></li> <li><span class="nowrap"><a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">Savings and loan crisis</a> (1986–1995)</span></li> <li><span class="nowrap"><a href="/wiki/Cameroonian_economic_crisis" title="Cameroonian economic crisis">Cameroonian economic crisis</a> (1987–2000s)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1987)" title="Black Monday (1987)">Black Monday (1987)</a></span></li> <li><span class="nowrap"><a href="/wiki/1988%E2%80%931992_Norwegian_banking_crisis" title="1988–1992 Norwegian banking crisis">1988–1992 Norwegian banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble crash</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/Rhode_Island_banking_crisis" title="Rhode Island banking crisis">Rhode Island banking crisis</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/1991_Indian_economic_crisis" title="1991 Indian economic crisis">1991 Indian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Sweden_financial_crisis_1990%E2%80%931994" class="mw-redirect" title="Sweden financial crisis 1990–1994">1990s Swedish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1990s_Finnish_banking_crisis" title="1990s Finnish banking crisis">1990s Finnish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Armenian_energy_crisis_of_1990s" class="mw-redirect" title="Armenian energy crisis of 1990s">1990s Armenian energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Special_Period" title="Special Period">Cuban Special Period</a> (1991–2000)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Wednesday" title="Black Wednesday">Black Wednesday (1992 Sterling crisis)</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia" title="Hyperinflation in the Federal Republic of Yugoslavia">Yugoslav hyperinflation</a> (1992–1994)</span></li> <li><span class="nowrap"><a href="/wiki/1994_bond_market_crisis" title="1994 bond market crisis">1994 bond market crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_1994" title="Venezuelan banking crisis of 1994">Venezuelan banking crisis of 1994</a></span></li> <li><span class="nowrap"><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a> (1994–1996)</span></li> <li><span class="nowrap"><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/October_27,_1997,_mini-crash" title="October 27, 1997, mini-crash">October 1997 mini-crash</a></span></li> <li><span class="nowrap"><a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%931999_Ecuador_economic_crisis" title="1998–1999 Ecuador economic crisis">1998–1999 Ecuador economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></span></li> <li><span class="nowrap"><a href="/wiki/Samba_effect" title="Samba effect">Samba effect</a> (1999)</span></li> <li><span class="nowrap"><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble crash</a> (2000–2004)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_the_September_11_attacks" title="Economic effects of the September 11 attacks">9/11 stock market crash</a> (2001)</span></li> <li><span class="nowrap"><a href="/wiki/2001_Turkish_economic_crisis" title="2001 Turkish economic crisis">2001 Turkish economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_downturn_of_2002" title="Stock market downturn of 2002">Stock market downturn of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/2002_Uruguay_banking_crisis" title="2002 Uruguay banking crisis">2002 Uruguay banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2003_Myanmar_banking_crisis" title="2003 Myanmar banking crisis">2003 Myanmar banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> (2003–2008)</span></li> <li><span class="nowrap"><a href="/wiki/2004_Argentine_energy_crisis" title="2004 Argentine energy crisis">2004 Argentine energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 Chinese stock bubble crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Zimbabwean hyperinflation</a> (2007–present)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a><br />(2007–2009)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_September_2008" title="Global financial crisis in September 2008">September 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_October_2008" title="Global financial crisis in October 2008">October 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_November_2008" title="Global financial crisis in November 2008">November 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_December_2008" title="Global financial crisis in December 2008">December 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_2009" title="Global financial crisis in 2009">2009</a></span></li> <li><span class="nowrap"><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_United_States_housing_market_correction" title="2000s United States housing market correction">2000s U.S. housing market correction</a></span></li> <li><span class="nowrap"><a href="/wiki/United_States_bear_market_of_2007%E2%80%932009" title="United States bear market of 2007–2009">U.S. bear market of 2007–2009</a></span></li> <li><span class="nowrap"><a href="/wiki/2008_Latvian_financial_crisis" title="2008 Latvian financial crisis">2008 Latvian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Belgian_financial_crisis" title="2008–2009 Belgian financial crisis">2008–2009 Belgian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Great_Recession_in_Russia" title="Great Recession in Russia">2008–2009 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Ukrainian_financial_crisis" title="2008–2009 Ukrainian financial crisis">2008–2009 Ukrainian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">2008–2011 Icelandic financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Post-2008_Irish_banking_crisis" title="Post-2008 Irish banking crisis">2008–2011 Irish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932014_Spanish_financial_crisis" title="2008–2014 Spanish financial crisis">2008–2014 Spanish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Blue_Monday_Crash_2009" title="Blue Monday Crash 2009">Blue Monday Crash 2009</a></span></li> <li><span class="nowrap"><a href="/wiki/European_debt_crisis" title="European debt crisis">European debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a></span></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2009–present)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Dubai_World" title="Dubai World">2009 Dubai debt standstill</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010" title="Venezuelan banking crisis of 2009–2010">Venezuelan banking crisis of 2009–2010</a></span></li> <li><span class="nowrap"><a href="/wiki/2010%E2%80%932014_Portuguese_financial_crisis" title="2010–2014 Portuguese financial crisis">2010–2014 Portuguese financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis_in_Venezuela" title="Energy crisis in Venezuela">Energy crisis in Venezuela</a> (2010–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economy_of_Syria" title="Economy of Syria">Syrian economic crisis</a> (2011–present)</span></li> <li><span class="nowrap"><a href="/wiki/August_2011_stock_markets_fall" title="August 2011 stock markets fall">August 2011 stock markets fall</a></span></li> <li><span class="nowrap"><a href="/wiki/2011_Bangladesh_share_market_scam" title="2011 Bangladesh share market scam">2011 Bangladesh share market scam</a></span></li> <li><span class="nowrap"><a href="/wiki/2012%E2%80%932013_Cypriot_financial_crisis" title="2012–2013 Cypriot financial crisis">2012–2013 Cypriot financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_Banking_Liquidity_Crisis_of_2013" title="Chinese Banking Liquidity Crisis of 2013">2013 Chinese banking liquidity crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">Venezuela economic crisis</a> (2013–present)</span></li> <li><span class="nowrap"><a href="/wiki/2014_Brazilian_economic_crisis" title="2014 Brazilian economic crisis">2014–2016 Brazilian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Puerto_Rican_government-debt_crisis" title="Puerto Rican government-debt crisis">Puerto Rican government-debt crisis</a> (2014–2022)</span></li> <li><span class="nowrap"><a href="/wiki/Russian_financial_crisis_(2014%E2%80%932016)" title="Russian financial crisis (2014–2016)">Russian financial crisis (2014–2016)</a></span></li> <li><span class="nowrap"><a href="/wiki/2015_Nepal_blockade" title="2015 Nepal blockade">2015 Nepal blockade</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence" title="2015–2016 Chinese stock market turbulence">2015–2016 Chinese stock market turbulence</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_stock_market_selloff" title="2015–2016 stock market selloff">2015–2016 stock market selloff</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_Brexit" title="Economic effects of Brexit">Brexit stock market crash</a> (2016)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Venezuela" title="Hyperinflation in Venezuela">Venezuelan hyperinflation</a> (2016–2022)</span></li> <li><span class="nowrap"><a href="/wiki/2017_Sri_Lankan_fuel_crisis" title="2017 Sri Lankan fuel crisis">2017 Sri Lankan fuel crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Ghana_banking_crisis" title="Ghana banking crisis">Ghana banking crisis</a> (2017–2018)</span></li> <li><span class="nowrap"><a href="/wiki/Turkish_economic_crisis_(2018%E2%80%93current)" title="Turkish economic crisis (2018–current)">Turkish economic crisis</a> (2018–present)</span></li> <li><span class="nowrap"><a href="/wiki/Lebanese_liquidity_crisis" title="Lebanese liquidity crisis">Lebanese liquidity crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Sri_Lankan_economic_crisis_(2019%E2%80%93present)" title="Sri Lankan economic crisis (2019–present)">Sri Lankan economic crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">COVID-19 pandemic</a></span> <ul><li><span class="nowrap"><a href="/wiki/Financial_market_impact_of_the_COVID-19_pandemic" title="Financial market impact of the COVID-19 pandemic">Financial market impact</a></span></li> <li><span class="nowrap"><a href="/wiki/2020_stock_market_crash" title="2020 stock market crash">2020 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Early_2020s_recession" class="mw-redirect" title="Early 2020s recession">Recession</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)" title="Chinese property sector crisis (2020–present)">Chinese property sector crisis</a> (2020–present)</span></li> <li><span class="nowrap"><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_Russian_invasion_of_Ukraine" title="Economic impact of the Russian invasion of Ukraine">2022 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Pakistani_economic_crisis_(2022%E2%80%93present)" title="Pakistani economic crisis (2022–present)">Pakistani economic crisis</a> (2022–present)</span></li> <li><span class="nowrap"><a href="/wiki/2022_stock_market_decline" title="2022 stock market decline">2022 stock market decline</a></span></li> <li><span class="nowrap"><a href="/wiki/German_economic_crisis_(2022%E2%80%93present)" title="German economic crisis (2022–present)">2022–2024 German economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023%E2%80%932024_Egyptian_financial_crisis" title="2023–2024 Egyptian financial crisis">2023–2024 Egyptian financial crisis</a></span></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/List_of_banking_crises" title="List of banking crises">List of banking crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_economic_crises" title="List of economic crises">List of economic crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></span></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="American_Revolutionary_War" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#C3D6EF;color:inherit;"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:American_Revolutionary_War" title="Template:American Revolutionary War"><abbr title="View this template" style="color:inherit">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:American_Revolutionary_War" title="Template talk:American Revolutionary War"><abbr title="Discuss this template" style="color:inherit">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:American_Revolutionary_War" title="Special:EditPage/Template:American Revolutionary War"><abbr title="Edit this template" style="color:inherit">e</abbr></a></li></ul></div><div id="American_Revolutionary_War" style="font-size:114%;margin:0 4em"><a href="/wiki/American_Revolutionary_War" title="American Revolutionary War">American Revolutionary War</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div id="Origins_of_the_American_Revolution" style="font-size:114%;margin:0 4em">Origins of the <a href="/wiki/American_Revolution" title="American Revolution">American Revolution</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Philosophy</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_Enlightenment" title="American Enlightenment">American Enlightenment</a></li> <li><a href="/wiki/John_Locke" title="John Locke">John Locke</a></li> <li><a href="/wiki/Colonial_history_of_the_United_States" title="Colonial history of the United States">Colonial history</a></li> <li><a href="/wiki/Liberalism_in_the_United_States" title="Liberalism in the United States">Liberalism</a></li> <li><a href="/wiki/Republicanism_in_the_United_States" title="Republicanism in the United States">Republicanism</a></li> <li><a href="/wiki/Freedom_of_religion_in_the_United_States" title="Freedom of religion in the United States">Freedom of religion</a></li> <li><a href="/wiki/Rights_of_Englishmen" title="Rights of Englishmen">Rights of Englishmen</a></li> <li><a href="/wiki/No_taxation_without_representation" title="No taxation without representation">No taxation without representation</a></li> <li><i><a href="/wiki/Common_Sense" title="Common Sense">Common Sense</a></i></li> <li><a href="/wiki/Spirit_of_%2776_(sentiment)" title="Spirit of '76 (sentiment)">Spirit of '76</a></li> <li>"<a href="/wiki/All_men_are_created_equal" title="All men are created equal">All men are created equal</a>"</li> <li>"<a href="/wiki/Life,_Liberty_and_the_pursuit_of_Happiness" title="Life, Liberty and the pursuit of Happiness">Life, Liberty and the pursuit of Happiness</a>"</li> <li>"<a href="/wiki/Consent_of_the_governed" title="Consent of the governed">Consent of the governed</a>"</li> <li><a href="/wiki/Expansionism" title="Expansionism">Expansionism</a></li> <li><a href="/wiki/Settler_colonialism" title="Settler colonialism">Settler colonialism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Royalists</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Pitt%E2%80%93Newcastle_ministry" title="Pitt–Newcastle ministry">Pitt–Newcastle ministry</a></li> <li><a href="/wiki/Bute_ministry" title="Bute ministry">Bute ministry</a></li> <li><a href="/wiki/Grenville_ministry" title="Grenville ministry">Grenville ministry</a></li> <li><a href="/wiki/First_Rockingham_ministry" title="First Rockingham ministry">First Rockingham ministry</a></li> <li><a href="/wiki/Chatham_ministry" title="Chatham ministry">Chatham ministry</a></li> <li><a href="/wiki/Grafton_ministry" title="Grafton ministry">Grafton ministry</a></li> <li><a href="/wiki/North_ministry" title="North ministry">North ministry</a></li> <li><a href="/wiki/Second_Rockingham_ministry" title="Second Rockingham ministry">Second Rockingham ministry</a></li> <li><a href="/wiki/Shelburne_ministry" title="Shelburne ministry">Shelburne ministry</a></li> <li><a href="/wiki/Fox%E2%80%93North_coalition" title="Fox–North coalition">Fox–North coalition</a></li> <li><a href="/wiki/Loyalist_(American_Revolution)" title="Loyalist (American Revolution)">Loyalists</a></li> <li><a href="/wiki/Black_Loyalist" title="Black Loyalist">Black Loyalist</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Related British<br />Acts of Parliament</div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Navigation_Acts" title="Navigation Acts">Navigation</a></li> <li><a href="/wiki/Iron_Act" title="Iron Act">Iron</a></li> <li><a href="/wiki/Molasses_Act" title="Molasses Act">Molasses</a></li> <li><a href="/wiki/Royal_Proclamation_of_1763" title="Royal Proclamation of 1763">Royal Proclamation of 1763</a></li> <li><a href="/wiki/Sugar_Act" title="Sugar Act">Sugar</a></li> <li><a href="/wiki/Currency_Act" title="Currency Act">Currency</a></li> <li><a href="/wiki/Quartering_Acts" title="Quartering Acts">Quartering</a></li> <li><a href="/wiki/Stamp_Act_1765" title="Stamp Act 1765">Stamp</a> up i.p.o</li> <li><a href="/wiki/Declaratory_Act" title="Declaratory Act">Declaratory</a></li> <li><a href="/wiki/Townshend_Acts" title="Townshend Acts">Townshend</a></li> <li><a href="/wiki/Tea_Act" title="Tea Act">Tea</a></li> <li><a href="/wiki/Quebec_Act" title="Quebec Act">Quebec</a></li> <li><a href="/wiki/Intolerable_Acts" title="Intolerable Acts">Intolerable</a></li> <li><a href="/wiki/Conciliatory_Resolution" title="Conciliatory Resolution">Conciliatory Resolution</a></li> <li><a href="/wiki/Restraining_Acts_1775" title="Restraining Acts 1775">Restraining</a></li> <li><a href="/wiki/Proclamation_of_Rebellion" title="Proclamation of Rebellion">Proclamation of Rebellion</a></li> <li><a href="/wiki/Prohibitory_Act" title="Prohibitory Act">Prohibitory</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Colonials</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Loyal_Nine" title="Loyal Nine">Loyal Nine</a></li> <li><a href="/wiki/Stamp_Act_Congress" title="Stamp Act Congress">Stamp Act Congress</a></li> <li><a href="/wiki/Declaration_of_Rights_and_Grievances" title="Declaration of Rights and Grievances">Declaration of Rights and Grievances</a></li> <li><a href="/wiki/Virginia_Association" title="Virginia Association">Virginia Association</a></li> <li><a href="/wiki/Daughters_of_Liberty" title="Daughters of Liberty">Daughters of Liberty</a></li> <li><a href="/wiki/Sons_of_Liberty" title="Sons of Liberty">Sons of Liberty</a></li> <li><a href="/wiki/Patriot_(American_Revolution)" title="Patriot (American Revolution)">Patriots</a></li> <li><a href="/wiki/Black_Patriot" title="Black Patriot">Black Patriots</a></li> <li><a href="/wiki/Committees_of_correspondence" title="Committees of correspondence">Committees of correspondence</a></li> <li><a href="/wiki/Committee_of_safety_(American_Revolution)" title="Committee of safety (American Revolution)">Committees of safety</a></li> <li><i><a href="/wiki/Letters_from_a_Farmer_in_Pennsylvania" title="Letters from a Farmer in Pennsylvania">Letters from a Farmer in Pennsylvania</a></i></li> <li><a href="/wiki/Massachusetts_Circular_Letter" title="Massachusetts Circular Letter">Massachusetts Circular Letter</a></li> <li><a href="/wiki/Suffolk_Resolves" title="Suffolk Resolves">Suffolk Resolves</a></li> <li><a href="/wiki/First_Continental_Congress" title="First Continental Congress">First Continental Congress</a></li> <li><a href="/wiki/Continental_Association" title="Continental Association">Continental Association</a></li> <li><a href="/wiki/Minutemen" title="Minutemen">Minutemen</a></li> <li><a href="/wiki/Provincial_Congress" title="Provincial Congress">Provincial Congress</a></li> <li><a href="/wiki/Second_Continental_Congress" title="Second Continental Congress">Second Continental Congress</a></li> <li><a href="/wiki/United_Colonies" title="United Colonies">United Colonies</a></li> <li><a href="/wiki/Olive_Branch_Petition" title="Olive Branch Petition">Olive Branch Petition</a></li> <li><a href="/wiki/Declaration_of_the_Causes_and_Necessity_of_Taking_Up_Arms" title="Declaration of the Causes and Necessity of Taking Up Arms">Declaration of the Causes and Necessity of Taking Up Arms</a></li> <li><a href="/wiki/Committee_of_Secret_Correspondence" title="Committee of Secret Correspondence">Committee of Secret Correspondence</a></li> <li><a href="/wiki/Halifax_Resolves" title="Halifax Resolves">Halifax Resolves</a></li> <li><a href="/wiki/Lee_Resolution" title="Lee Resolution">Lee Resolution</a></li> <li><a href="/wiki/United_States_Declaration_of_Independence" title="United States Declaration of Independence">Declaration of Independence</a></li> <li><a href="/wiki/Model_Treaty" title="Model Treaty">Model Treaty</a></li> <li><a href="/wiki/Articles_of_Confederation" title="Articles of Confederation">Articles of Confederation</a> and <a href="/wiki/Perpetual_Union" title="Perpetual Union">Perpetual Union</a></li> <li><a href="/wiki/Congress_of_the_Confederation" title="Congress of the Confederation">Confederation Congress</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Events</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/French_and_Indian_War" title="French and Indian War">French and Indian War</a></li> <li><a href="/wiki/Treaty_of_Paris_(1763)" title="Treaty of Paris (1763)">Treaty of Paris (1763)</a></li> <li><a href="/wiki/Boston_Massacre" title="Boston Massacre">Boston Massacre</a></li> <li><a class="mw-selflink selflink">British credit crisis of 1772–1773</a></li> <li><a href="/wiki/Gaspee_affair" title="Gaspee affair">Gaspee affair</a></li> <li><a href="/wiki/Hutchinson_letters_affair" title="Hutchinson letters affair">Hutchinson letters affair</a></li> <li><a href="/wiki/Boston_Tea_Party" title="Boston Tea Party">Boston Tea Party</a></li> <li><a href="/wiki/Philadelphia_Tea_Party" title="Philadelphia Tea Party">Philadelphia Tea Party</a></li> <li><a href="/wiki/Powder_Alarm" title="Powder Alarm">Powder Alarm</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div id="*_Combatants_*_Campaigns_*_Theaters_*_Battles_*_Events_*_Colonies" style="font-size:114%;margin:0 4em"> <ul><li>Combatants</li> <li>Campaigns</li> <li>Theaters</li> <li>Battles</li> <li>Events</li> <li>Colonies</li></ul> </div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Combatants</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/United_Colonies" title="United Colonies">United Colonies</a>/<a href="/wiki/Thirteen_Colonies" title="Thirteen Colonies">Thirteen Colonies</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Continental_Congress" title="Continental Congress">Continental Congress</a></li> <li><a href="/wiki/Continental_Army" title="Continental Army">Army</a></li> <li><a href="/wiki/Continental_Navy" title="Continental Navy">Navy</a></li> <li><a href="/wiki/Continental_Marines" title="Continental Marines">Marines</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/Kingdom_of_Great_Britain" title="Kingdom of Great Britain">Kingdom of Great Britain</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Parliament_of_Great_Britain" title="Parliament of Great Britain">Parliament</a></li> <li><a href="/wiki/British_Army#Early_British_Empire" title="British Army">British Army</a></li> <li><a href="/wiki/Royal_Navy#1707–1815" title="Royal Navy">Royal Navy</a></li> <li><a href="/wiki/Germans_in_the_American_Revolution#European_allies_of_Britain" title="Germans in the American Revolution">European allies of King George III</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Colonial allies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/France_in_the_American_Revolutionary_War" title="France in the American Revolutionary War">France</a> <ul><li><a href="/wiki/Treaty_of_Alliance_(1778)" title="Treaty of Alliance (1778)">Franco-American Treaty</a></li> <li><a href="/wiki/French_Army" title="French Army">Army</a></li> <li><a href="/wiki/French_Navy" title="French Navy">Navy</a></li></ul></li> <li><a href="/wiki/Roderigue_Hortalez_and_Company" title="Roderigue Hortalez and Company">Hortalez et Cie</a></li> <li><a href="/wiki/Germans_in_the_American_Revolution#American_and_European_supporters_of_Congress" title="Germans in the American Revolution">German supporters of Congress</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Campaigns and<br />theaters</div></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Boston_campaign" title="Boston campaign">Boston</a></li> <li><a href="/wiki/Invasion_of_Quebec_(1775)" title="Invasion of Quebec (1775)">Quebec</a></li> <li><a href="/wiki/Nova_Scotia_in_the_American_Revolution" title="Nova Scotia in the American Revolution">Nova Scotia</a></li> <li><a href="/wiki/New_York_and_New_Jersey_campaign" title="New York and New Jersey campaign">New York and New Jersey</a></li> <li><a href="/wiki/Saratoga_campaign" title="Saratoga campaign">Saratoga</a></li> <li><a href="/wiki/Philadelphia_campaign" title="Philadelphia campaign">Philadelphia</a></li> <li><a href="/wiki/Northern_theater_of_the_American_Revolutionary_War" title="Northern theater of the American Revolutionary War">Northern</a></li> <li><a href="/wiki/Northern_theater_of_the_American_Revolutionary_War_after_Saratoga" title="Northern theater of the American Revolutionary War after Saratoga">Northern after Saratoga</a></li> <li><a href="/wiki/Southern_theater_of_the_American_Revolutionary_War" title="Southern theater of the American Revolutionary War">Southern</a></li> <li><a href="/wiki/Western_theater_of_the_American_Revolutionary_War" title="Western theater of the American Revolutionary War">Western</a></li> <li><a href="/wiki/Yorktown_campaign" title="Yorktown campaign">Yorktown</a></li> <li><a href="/wiki/Naval_battles_of_the_American_Revolutionary_War" title="Naval battles of the American Revolutionary War">Naval battles</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Major <a href="/wiki/List_of_American_Revolutionary_War_battles" title="List of American Revolutionary War battles">battles</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Battles_of_Lexington_and_Concord" title="Battles of Lexington and Concord">Lexington and Concord</a></li> <li><a href="/wiki/Siege_of_Boston" title="Siege of Boston">Boston</a></li> <li><a href="/wiki/Capture_of_Fort_Ticonderoga" title="Capture of Fort Ticonderoga">Capture of Fort Ticonderoga</a></li> <li><a href="/wiki/Battle_of_Bunker_Hill" title="Battle of Bunker Hill">Bunker Hill</a></li> <li><a href="/wiki/Battle_of_Quebec_(1775)" title="Battle of Quebec (1775)">Quebec</a></li> <li><a href="/wiki/Battle_of_Valcour_Island" title="Battle of Valcour Island">Valcour Island</a></li> <li><a href="/wiki/Battle_of_Long_Island" title="Battle of Long Island">Long Island</a></li> <li><a href="/wiki/Battle_of_Harlem_Heights" title="Battle of Harlem Heights">Harlem Heights</a></li> <li><a href="/wiki/Battle_of_Fort_Washington" title="Battle of Fort Washington">Fort Washington</a></li> <li><a href="/wiki/Battle_of_Trenton" title="Battle of Trenton">Trenton</a></li> <li><a href="/wiki/Battle_of_the_Assunpink_Creek" title="Battle of the Assunpink Creek">Assunpink Creek</a></li> <li><a href="/wiki/Battle_of_Princeton" title="Battle of Princeton">Princeton</a></li> <li><a href="/wiki/Siege_of_Fort_Ticonderoga_(1777)" title="Siege of Fort Ticonderoga (1777)">Siege of Fort Ticonderoga</a></li> <li><a href="/wiki/Battle_of_Bennington" title="Battle of Bennington">Bennington</a></li> <li><a href="/wiki/Battles_of_Saratoga" title="Battles of Saratoga">Saratoga</a></li> <li><a href="/wiki/Battle_of_Brandywine" title="Battle of Brandywine">Brandywine</a></li> <li><a href="/wiki/Battle_of_Germantown" title="Battle of Germantown">Germantown</a></li> <li><a href="/wiki/Battle_of_Monmouth" title="Battle of Monmouth">Monmouth</a></li> <li><a href="/wiki/Battle_of_St._Lucia" title="Battle of St. Lucia">St. Lucia</a></li> <li><a href="/wiki/Battle_of_Grenada" title="Battle of Grenada">Grenada</a></li> <li><a href="/wiki/Battle_of_Stony_Point" title="Battle of Stony Point">Stony Point</a></li> <li><a href="/wiki/Sullivan_Expedition" title="Sullivan Expedition">Sullivan Expedition</a></li> <li><a href="/wiki/Siege_of_Savannah" title="Siege of Savannah">Savannah</a></li> <li><a href="/wiki/Great_Siege_of_Gibraltar" title="Great Siege of Gibraltar">Gibraltar</a></li> <li><a href="/wiki/Battle_of_Cape_St._Vincent_(1780)" title="Battle of Cape St. Vincent (1780)">Cape St. Vincent</a></li> <li><a href="/wiki/Siege_of_Charleston" title="Siege of Charleston">Charleston</a></li> <li><a href="/wiki/Battle_of_Connecticut_Farms" title="Battle of Connecticut Farms">Connecticut Farms</a></li> <li><a href="/wiki/Battle_of_Springfield" title="Battle of Springfield">Springfield</a></li> <li><a href="/wiki/Battle_of_Camden" title="Battle of Camden">Camden</a></li> <li><a href="/wiki/Battle_of_Kings_Mountain" title="Battle of Kings Mountain">Kings Mountain</a></li> <li><a href="/wiki/Battle_of_Cowpens" title="Battle of Cowpens">Cowpens</a></li> <li><a href="/wiki/Siege_of_Pensacola" title="Siege of Pensacola">Pensacola</a></li> <li><a href="/wiki/Battle_of_Guilford_Court_House" title="Battle of Guilford Court House">Guilford Court House</a></li> <li><a href="/wiki/Lochry%27s_Defeat" title="Lochry's Defeat">Lochry's Defeat</a></li> <li><a href="/wiki/Battle_of_the_Chesapeake" title="Battle of the Chesapeake">Chesapeake</a></li> <li><a href="/wiki/Siege_of_Yorktown" title="Siege of Yorktown">Yorktown</a></li> <li><a href="/wiki/Battle_of_the_Saintes" title="Battle of the Saintes">The Saintes</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Other events</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Staten_Island_Peace_Conference" title="Staten Island Peace Conference">Staten Island Peace Conference</a></li> <li><a href="/wiki/Sint_Eustatius#"First_Salute"" title="Sint Eustatius">"First Salute"</a></li> <li><a href="/wiki/George_Washington%27s_crossing_of_the_Delaware_River" title="George Washington's crossing of the Delaware River">Washington's crossing of the Delaware River</a></li> <li><a href="/wiki/Conway_Cabal" title="Conway Cabal">Conway Cabal</a></li> <li><a href="/wiki/Valley_Forge" title="Valley Forge">Valley Forge</a></li> <li><a href="/wiki/Franco-American_alliance" title="Franco-American alliance">Entry of France into war</a></li> <li><a href="/wiki/Carlisle_Peace_Commission" title="Carlisle Peace Commission">Carlisle Peace Commission</a></li> <li><a href="/wiki/Gordon_Riots" title="Gordon Riots">Gordon Riots</a></li> <li><a href="/wiki/Pennsylvania_Line_Mutiny" title="Pennsylvania Line Mutiny">Pennsylvania Mutiny of 1781</a></li> <li><a href="/wiki/Capture_of_Sint_Eustatius" title="Capture of Sint Eustatius">Sint Eustatius</a></li> <li><a href="/wiki/Newburgh_Conspiracy" title="Newburgh Conspiracy">Newburgh Conspiracy</a></li> <li><a href="/wiki/Pennsylvania_Mutiny_of_1783" title="Pennsylvania Mutiny of 1783">Pennsylvania Mutiny of 1783</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Related conflicts</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Cherokee%E2%80%93American_wars" title="Cherokee–American wars">Cherokee–American wars</a></li> <li><a href="/wiki/Fourth_Anglo-Dutch_War" title="Fourth Anglo-Dutch War">Fourth Anglo-Dutch War</a></li> <li><a href="/wiki/Second_Anglo-Mysore_War" title="Second Anglo-Mysore War">Second Anglo-Mysore War</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Involvement <span class="nobold">(by <br />colony or location)</span></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;"><a href="/wiki/Thirteen_Colonies" title="Thirteen Colonies">Rebel colonies</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_Connecticut#The_American_Revolution_(1775–1789)" title="History of Connecticut">Connecticut</a></li> <li><a href="/wiki/Delaware_Line" title="Delaware Line">Delaware</a></li> <li><a href="/wiki/Georgia_in_the_American_Revolution" title="Georgia in the American Revolution">Georgia</a></li> <li><a href="/wiki/Maryland_in_the_American_Revolution" title="Maryland in the American Revolution">Maryland</a></li> <li><a href="/wiki/History_of_Massachusetts#Revolutionary_Massachusetts:_1760s–1780s" title="History of Massachusetts">Massachusetts</a></li> <li><a href="/wiki/History_of_New_Hampshire#Revolution:_1775–1815" title="History of New Hampshire">New Hampshire</a></li> <li><a href="/wiki/New_Jersey_in_the_American_Revolution" title="New Jersey in the American Revolution">New Jersey</a></li> <li><a href="/wiki/New_York_in_the_American_Revolution" class="mw-redirect" title="New York in the American Revolution">New York</a></li> <li><a href="/wiki/North_Carolina_in_the_American_Revolution#American_Revolution" class="mw-redirect" title="North Carolina in the American Revolution">North Carolina</a></li> <li><a href="/wiki/Pennsylvania_in_the_American_Revolution" title="Pennsylvania in the American Revolution">Pennsylvania</a></li> <li><a href="/wiki/Rhode_Island_in_the_American_Revolution#Revolutionary_era_1775-1790" class="mw-redirect" title="Rhode Island in the American Revolution">Rhode Island</a></li> <li><a href="/wiki/South_Carolina_in_the_American_Revolution" title="South Carolina in the American Revolution">South Carolina</a></li> <li><a href="/wiki/Virginia_in_the_American_Revolution#American_Revolution" title="Virginia in the American Revolution">Virginia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background-color:#DCDCDC;color:inherit;">Loyal colonies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/East_Florida" title="East Florida">East Florida</a></li> <li><a href="/wiki/Nova_Scotia#17th_and_18th_centuries" title="Nova Scotia">Nova Scotia</a></li> <li><a href="/wiki/Province_of_Quebec_(1763%E2%80%931791)" title="Province of Quebec (1763–1791)">Quebec</a></li> <li><a href="/wiki/West_Florida" title="West Florida">West Florida</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div id="Leaders" style="font-size:114%;margin:0 4em">Leaders</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">British</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7.0em;background-color:#DCDCDC;color:inherit;">Military</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Mariot_Arbuthnot" title="Mariot Arbuthnot">Arbuthnot</a></li> <li><a href="/wiki/Joseph_Brant" title="Joseph Brant">Brant</a></li> <li><a href="/wiki/John_Burgoyne" title="John Burgoyne">Burgoyne</a></li> <li><a href="/wiki/John_Campbell,_of_Strachur" title="John Campbell, of Strachur">Campbell</a></li> <li><a href="/wiki/Guy_Carleton,_1st_Baron_Dorchester" title="Guy Carleton, 1st Baron Dorchester">Carleton</a></li> <li><a href="/wiki/Henry_Clinton_(British_Army_officer,_born_1730)" title="Henry Clinton (British Army officer, born 1730)">Clinton</a></li> <li><a href="/wiki/Charles_Cornwallis,_1st_Marquess_Cornwallis" title="Charles Cornwallis, 1st Marquess Cornwallis">Cornwallis</a></li> <li><a href="/wiki/Simon_Fraser_of_Lovat" title="Simon Fraser of Lovat">Fraser</a></li> <li><a href="/wiki/Thomas_Gage" title="Thomas Gage">Gage</a></li> <li><a href="/wiki/Thomas_Graves,_1st_Baron_Graves" title="Thomas Graves, 1st Baron Graves">Graves</a></li> <li><a href="/wiki/Richard_Howe,_1st_Earl_Howe" title="Richard Howe, 1st Earl Howe">Richard Howe</a></li> <li><a href="/wiki/William_Howe,_5th_Viscount_Howe" title="William Howe, 5th Viscount Howe">William Howe</a></li> <li><a href="/wiki/Wilhelm_von_Knyphausen" title="Wilhelm von Knyphausen">Knyphausen</a></li> <li><a href="/wiki/George_Rodney,_1st_Baron_Rodney" title="George Rodney, 1st Baron Rodney">Rodney</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:7.0em;background-color:#DCDCDC;color:inherit;">Civilian</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/George_III" title="George III">King George III</a></li> <li><a href="/wiki/Jeffery_Amherst,_1st_Baron_Amherst" title="Jeffery Amherst, 1st Baron Amherst">Amherst</a></li> <li><a href="/wiki/William_Barrington,_2nd_Viscount_Barrington" title="William Barrington, 2nd Viscount Barrington">Barrington</a></li> <li><a href="/wiki/George_Germain,_1st_Viscount_Sackville" title="George Germain, 1st Viscount Sackville">Germain</a></li> <li><a href="/wiki/Frederick_North,_Lord_North" title="Frederick North, Lord North">North</a></li> <li><a href="/wiki/Charles_Watson-Wentworth,_2nd_Marquess_of_Rockingham" title="Charles Watson-Wentworth, 2nd Marquess of Rockingham">Rockingham</a></li> <li><a href="/wiki/John_Montagu,_4th_Earl_of_Sandwich" title="John Montagu, 4th Earl of Sandwich">Sandwich</a></li> <li><a href="/wiki/William_Petty,_2nd_Earl_of_Shelburne" title="William Petty, 2nd Earl of Shelburne">Shelburne</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Colonial</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7.0em;background-color:#DCDCDC;color:inherit;">Military</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/George_Washington" title="George Washington">Washington</a></li> <li><a href="/wiki/William_Alexander,_Lord_Stirling" title="William Alexander, Lord Stirling">Alexander</a></li> <li><a href="/wiki/Ethan_Allen" title="Ethan Allen">Allen</a></li> <li><a href="/wiki/Benedict_Arnold" title="Benedict Arnold">Arnold</a></li> <li><a href="/wiki/John_Barry_(naval_officer)" title="John Barry (naval officer)">Barry</a></li> <li><a href="/wiki/George_Claghorn" title="George Claghorn">Claghorn</a></li> <li><a href="/wiki/George_Rogers_Clark" title="George Rogers Clark">Clark</a></li> <li><a href="/wiki/Louis_Leb%C3%A8gue_Duportail" title="Louis Lebègue Duportail">Duportail</a></li> <li><a href="/wiki/Horatio_Gates" title="Horatio Gates">Gates</a></li> <li><a href="/wiki/Nathanael_Greene" title="Nathanael Greene">Greene</a></li> <li><a href="/wiki/Alexander_Hamilton" title="Alexander Hamilton">Hamilton</a></li> <li><a href="/wiki/Esek_Hopkins" title="Esek Hopkins">Hopkins</a></li> <li><a href="/wiki/John_Paul_Jones" title="John Paul Jones">Jones</a></li> <li><a href="/wiki/Johann_de_Kalb" title="Johann de Kalb">de Kalb</a></li> <li><a href="/wiki/Henry_Knox" title="Henry Knox">Knox</a></li> <li><a href="/wiki/Gilbert_du_Motier,_Marquis_de_Lafayette" title="Gilbert du Motier, Marquis de Lafayette">Lafayette</a></li> <li><a href="/wiki/Charles_Lee_(general)" title="Charles Lee (general)">Charles Lee</a></li> <li><a href="/wiki/Benjamin_Lincoln" title="Benjamin Lincoln">Lincoln</a></li> <li><a href="/wiki/Hugh_Mercer" title="Hugh Mercer">Mercer</a></li> <li><a href="/wiki/Richard_Montgomery" title="Richard Montgomery">Montgomery</a></li> <li><a href="/wiki/Samuel_Nicholson" title="Samuel Nicholson">Nicholson</a></li> <li><a href="/wiki/Israel_Putnam" title="Israel Putnam">Putnam</a></li> <li><a href="/wiki/Caesar_Rodney" title="Caesar Rodney">Rodney</a></li> <li><a href="/wiki/Arthur_St._Clair" title="Arthur St. Clair">St. Clair</a></li> <li><a href="/wiki/Philip_Schuyler" title="Philip Schuyler">Schuyler</a></li> <li><a href="/wiki/Friedrich_Wilhelm_von_Steuben" title="Friedrich Wilhelm von Steuben">von Steuben</a></li> <li><a href="/wiki/John_Sullivan_(general)" title="John Sullivan (general)">Sullivan</a></li> <li><a href="/wiki/Artemas_Ward" title="Artemas Ward">Ward</a></li> <li><a href="/wiki/Anthony_Wayne" title="Anthony Wayne">Wayne</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:7.0em;background-color:#DCDCDC;color:inherit;">Civilian</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/John_Adams" title="John Adams">John Adams</a></li> <li><a href="/wiki/Samuel_Adams" title="Samuel Adams">Samuel Adams</a></li> <li><a href="/wiki/Charles_Carroll_of_Carrollton" title="Charles Carroll of Carrollton">Carroll</a></li> <li><a href="/wiki/John_Dickinson" title="John Dickinson">Dickinson</a></li> <li><a href="/wiki/Benjamin_Franklin" title="Benjamin Franklin">Franklin</a></li> <li><a href="/wiki/John_Hancock" title="John Hancock">Hancock</a></li> <li><a href="/wiki/John_Hanson" title="John Hanson">Hanson</a></li> <li><a href="/wiki/Patrick_Henry" title="Patrick Henry">Henry</a></li> <li><a href="/wiki/Samuel_Huntington_(Connecticut_politician)" title="Samuel Huntington (Connecticut politician)">Huntington</a></li> <li><a href="/wiki/John_Jay" title="John Jay">Jay</a></li> <li><a href="/wiki/Thomas_Jefferson" title="Thomas Jefferson">Jefferson</a></li> <li><a href="/wiki/Henry_Laurens" title="Henry Laurens">Laurens</a></li> <li><a href="/wiki/Richard_Henry_Lee" title="Richard Henry Lee">Richard Henry Lee</a></li> <li><a href="/wiki/Thomas_McKean" title="Thomas McKean">McKean</a></li> <li><a href="/wiki/Robert_Morris_(financier)" title="Robert Morris (financier)">Morris</a></li> <li><a href="/wiki/Paul_Revere" title="Paul Revere">Revere</a></li> <li><a href="/wiki/Benjamin_Rush" title="Benjamin Rush">Rush</a></li> <li><a href="/wiki/John_Witherspoon" title="John Witherspoon">Witherspoon</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Colonial allies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="French" scope="row" class="navbox-group" style="width:7.0em;background-color:#DCDCDC;color:inherit;">French</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Louis_XVI" title="Louis XVI">Louis XVI</a></li> <li><a href="/wiki/Pierre_Beaumarchais" title="Pierre Beaumarchais">Beaumarchais</a></li> <li><a href="/wiki/Charles_Henri_Hector,_Count_of_Estaing" title="Charles Henri Hector, Count of Estaing">d'Estaing</a></li> <li><a href="/wiki/Fran%C3%A7ois_Joseph_Paul_de_Grasse" title="François Joseph Paul de Grasse">de Grasse</a></li> <li><a href="/wiki/Luc_Urbain_du_Bou%C3%ABxic,_comte_de_Guichen" title="Luc Urbain du Bouëxic, comte de Guichen">de Guichen</a></li> <li><a href="/wiki/Anne-C%C3%A9sar_de_La_Luzerne" title="Anne-César de La Luzerne">Luzerne</a></li> <li><a href="/wiki/Jean-Baptiste_Donatien_de_Vimeur,_comte_de_Rochambeau" title="Jean-Baptiste Donatien de Vimeur, comte de Rochambeau">de Rochambeau</a></li> <li><a href="/wiki/Pierre_Andr%C3%A9_de_Suffren" title="Pierre André de Suffren">Suffren</a></li> <li><a href="/wiki/Charles_Gravier,_comte_de_Vergennes" title="Charles Gravier, comte de Vergennes">Vergennes</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div id="Aftermath" style="font-size:114%;margin:0 4em">Aftermath</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Society_of_the_Cincinnati" title="Society of the Cincinnati">Society of the Cincinnati</a></li> <li><a href="/wiki/Treaty_of_Paris_(1783)" title="Treaty of Paris (1783)">Treaty of Paris (1783)</a></li> <li><a href="/wiki/Evacuation_Day_(New_York)" title="Evacuation Day (New York)">Evacuation Day (1783)</a></li> <li><a href="/wiki/Ratification_Day_(United_States)" title="Ratification Day (United States)">Ratification Day (1784)</a></li> <li><a href="/wiki/Constitutional_Convention_(United_States)" title="Constitutional Convention (United States)">Constitutional Convention</a></li> <li><i><a href="/wiki/The_Federalist_Papers" title="The Federalist Papers">The Federalist Papers</a></i></li> <li><a href="/wiki/Constitution_of_the_United_States" title="Constitution of the United States">Constitution</a></li> <li><a href="/wiki/United_States_Bill_of_Rights" title="United States Bill of Rights">Bill of Rights</a></li> <li><a href="/wiki/Shays%27s_Rebellion" title="Shays's Rebellion">Shays's Rebellion</a></li> <li><a href="/wiki/Jay_Treaty" title="Jay Treaty">Jay Treaty</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="background-color:#DCDCDC;color:inherit;"><div id="*_Related_topics" style="font-size:114%;margin:0 4em"> <ul><li>Related topics</li></ul> </div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Military</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Prisoners_of_war_in_the_American_Revolutionary_War" title="Prisoners of war in the American Revolutionary War">Prisoners</a></li> <li><a href="/wiki/Turtle_(submersible)" title="Turtle (submersible)">The <i>Turtle</i></a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Political</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Founding_Fathers_of_the_United_States" title="Founding Fathers of the United States">Founding Fathers</a></li> <li><a href="/wiki/Diplomacy_in_the_American_Revolutionary_War" title="Diplomacy in the American Revolutionary War">Diplomacy</a></li> <li><a href="/wiki/Liberty_Tree" title="Liberty Tree">Liberty Tree</a></li> <li><a href="/wiki/Yankee_Doodle" title="Yankee Doodle">Yankee Doodle</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:9.0em;background-color:#DCDCDC;color:inherit;">Other topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Timeline_of_the_American_Revolution" title="Timeline of the American Revolution">Timeline of the American Revolution</a></li> <li><a href="/wiki/African_Americans_in_the_Revolutionary_War" title="African Americans in the Revolutionary War">African Americans in the Revolutionary War</a></li> <li><a href="/wiki/Dogs_in_the_American_Revolutionary_War" title="Dogs in the American Revolutionary War">Dogs in the American Revolutionary War</a></li> <li><a href="/wiki/Intelligence_in_the_American_Revolutionary_War" title="Intelligence in the American Revolutionary War">Intelligence in the American Revolutionary War</a></li> <li><a href="/wiki/Women_in_the_American_Revolution" title="Women in the American Revolution">Women in the American Revolution</a></li> <li><a href="/wiki/Financial_costs_of_the_American_Revolutionary_War" title="Financial costs of the American Revolutionary War">Financial costs of the war</a></li> <li><a href="/wiki/Continental_currency_banknotes" title="Continental currency banknotes">Continental currency banknotes</a></li> <li><a href="/wiki/Continental_Currency_dollar_coin" title="Continental Currency dollar coin">Continental Currency dollar coin</a></li> <li><a href="/wiki/Libertas_Americana" title="Libertas Americana">Libertas Americana</a></li> <li><a href="/wiki/Commemoration_of_the_American_Revolution" title="Commemoration of the American Revolution">Commemoration</a> <ul><li><a href="/wiki/List_of_films_about_the_American_Revolution" title="List of films about the American Revolution">film</a></li> <li><a href="/wiki/List_of_television_series_and_miniseries_about_the_American_Revolution" title="List of television series and miniseries about the American Revolution">television</a></li> <li><a href="/wiki/List_of_plays_and_musicals_about_the_American_Revolution" title="List of plays and musicals about the American Revolution">theater</a></li> <li><a href="/wiki/Independence_Day_(United_States)" title="Independence Day (United States)">Independence Day</a></li> <li><a href="/wiki/Patriots%27_Day" title="Patriots' Day">Patriots' Day</a></li> <li><a href="/wiki/General_Pulaski_Memorial_Day" title="General Pulaski Memorial Day">Pulaski Memorial Day</a></li> <li><a href="/wiki/Presidents%27_Day" title="Presidents' Day">Washington's Birthday</a></li> <li><a href="/wiki/Jefferson%27s_Birthday" title="Jefferson's Birthday">Jefferson's Birthday</a></li> <li><a href="/wiki/Von_Steuben_Day" title="Von Steuben Day">Von Steuben Day</a></li> <li><a href="/wiki/Minor_American_Revolution_holidays" title="Minor American Revolution holidays">Minor holidays</a></li> <li><a href="/wiki/Centennial_Exposition" title="Centennial Exposition">Centennial</a></li> <li><a href="/wiki/Sesquicentennial_Exposition" title="Sesquicentennial Exposition">Sesquicentennial</a></li> <li><a href="/wiki/United_States_Bicentennial" title="United States Bicentennial">Bicentennial</a></li> <li><a href="/wiki/United_States_Semiquincentennial" title="United States Semiquincentennial">Semiquincentennial</a></li> <li><a href="/wiki/Children_of_the_American_Revolution" title="Children of the American Revolution">Children of the American Revolution</a></li> <li><a href="/wiki/Daughters_of_the_American_Revolution" title="Daughters of the American Revolution">Daughters of the American Revolution</a></li> <li><a href="/wiki/Sons_of_the_American_Revolution" title="Sons of the American Revolution">Sons of the American Revolution</a></li> <li><a href="/wiki/Sons_of_the_Revolution" title="Sons of the Revolution">Sons 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