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Ayr Bank
Douglas, Heron & Company, also known as the Ayr Bank, was a Scottish bank with its head office at Ayr. It opened in November 1769 and folded in 1772 during the crisis of 1772. History The nominal capital of the company was £150,000 or £160,000, of which £96,000 was immediately subscribed. However, no more than 80% of the capital was ever subscribed. There were 131 original partners, including Patrick Heron of Kirroughtree, the Earl of Dumfries, the Earl of March, and Sir Adam Fergusson of Kilkerran. Many of the partners were substantial landowners, such as the Duke of Buccleuch, the Duke of Queensberry, and Archibald Douglas, 1st Baron Douglas. The bank was established under a contract of co-partnery, so the partners were not protected by limited liability. This made the bank seem very secure, because its deposits were backed by the partners' land as collateral. The bank granted many loans to favoured customers and soon had to issue bank notes to cover its position. By Jun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scotland
Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the north and west, the North Sea to the northeast and east, and the Irish Sea to the south. It also contains more than 790 islands, principally in the archipelagos of the Hebrides and the Northern Isles. Most of the population, including the capital Edinburgh, is concentrated in the Central Belt—the plain between the Scottish Highlands and the Southern Uplands—in the Scottish Lowlands. Scotland is divided into 32 administrative subdivisions or local authorities, known as council areas. Glasgow City is the largest council area in terms of population, with Highland being the largest in terms of area. Limited self-governing power, covering matters such as education, social services and roads and transportation, is devolved from the Scott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, ''The Theory of Moral Sentiments'' (1759) and ''The Wealth of Nations, An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his ''magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God's will, God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 1772
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1769
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1772 Disestablishments In Scotland
Year 177 ( CLXXVII) was a common year starting on Tuesday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Commodus and Plautius (or, less frequently, year 930 '' Ab urbe condita''). The denomination 177 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Lucius Aurelius Commodus Caesar (age 15) and Marcus Peducaeus Plautius Quintillus Marcus Peducaeus Plautius Quintillus (died 205) was a Roman noble closely related by birth, adoption, and marriage to the Nerva-Antonine emperors. Through his marriage to Fadilla, the daughter of Emperor Marcus Aurelius and Empress Faustina the Yo ... become Roman Consuls. * Commodus is given the title ''Augustus (honorific), Augustus'', and is made co-emperor, with the same status as his father, Marcus Aurelius. * A systematic persecuti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1769 Establishments In Scotland
Events January–March * February 2 – Pope Clement XIII dies, the night before preparing an order to dissolve the Jesuits.Denis De Lucca, ''Jesuits and Fortifications: The Contribution of the Jesuits to Military Architecture in the Baroque Age'' (BRILL, 2012) pp315-316 * February 17 – The British House of Commons votes to not allow MP John Wilkes to take his seat after he wins a by-election. * March 4 – Mozart departs Italy, after the last of his three tours there. * March 16 – Louis Antoine de Bougainville returns to Saint-Malo, following a three-year circumnavigation of the world with the ships '' La Boudeuse'' and '' Étoile'', with the loss of only seven out of 330 men; among the members of the expedition is Jeanne Baré, the first woman known to have circumnavigated the globe. She returns to France some time after Bougainville and his ships. April–June * April 13 – James Cook arrives in Tahiti, on the ship HM Bark ''Endea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Scotland
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Economic History
''The Journal of Economic History'' is an academic journal of economic history which has been published since 1941. Many of its articles are quantitative, often following the formal approaches that have been called cliometrics or the new economic history to make statistical estimates. The journal is published on behalf of the Economic History Association by Cambridge University Press. Its editors are Ann Carlos at the University of Colorado and William Collins at Vanderbilt University. Its 2016 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a scientometric index calculated by Clarivate that reflects the yearly mean number of citations of articles published in the last two years in a given journal, as ... is 1.101. References External links * {{DEFAULTSORT:Journal Of Economic History, The Economics journals Economic history journals English-language journals Publications established in 1941 Quarterly journals Cam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Review
''The Economic History Review'' is a peer-reviewed history journal published quarterly by Wiley-Blackwell on behalf of the Economic History Society. It was established in 1927 by Eileen Power and is currently edited by Sara Horrell, Jaime Reis and Patrick Wallis. Its first editors were E. Lipson and R. H. Tawney and other previous editors include M. M. Postan, H. J. Habbakuk, Max Hartwell (1960–1968), Christopher Dyer, Nicholas Crafts, John Hatcher, Richard Smith, Jane Humphries, Steve Hindle and Phillipp Schofield. Edition The lead editors are John Turner, Giovanni Federico and Tirthankar Roy and the editorial board counts 21 other editors including Jane Humphries and Debin Ma from the University of Oxford, Sara Horrell, Max-Stephan Schulze and Patrick Wallis from the London School of Economics. The journal has published 75 volumes usually composed of 4 annual issues. Ranking It is considered one of the best economic history journals along with the Journal of Economic H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Linen Company
The British Linen Bank was a commercial bank based in the United Kingdom. It was acquired by the Bank of Scotland in 1969 and served as the establishment's merchant bank arm from 1977 until 1999. History Foundation The Edinburgh-based British Linen was "the only British bank to be formed on the basis of an industrial charter" and, as the name suggests, its roots lay in the Scottish linen industry. The original driving force behind the formation of the British Linen Company (as it was first named) was Andrew Fletcher, Lord Milton. He was a lawyer landowner, had been active in the promotion of the Royal Bank of Scotland and, according to Checkland, "from 1735 to 1766 he was the most important man in the politics of Scotland." He had helped establish the Board of Trustees for Fisheries and Manufactures in Scotland and was the chairman of the board's Linen Committee. In 1727 he had been instrumental in the formation of the Edinburgh Linen Co-Partnery and in the early 1740s Milton wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tayside Meal Riots
Tayside ( gd, Taobh Tatha) was one of the nine regions used for local government in Scotland from 15 May 1975 to 31 March 1996. The region was named for the River Tay. It was created by the Local Government (Scotland) Act 1973, following recommendations made by the 1969 Wheatley Report which attempted to replace the mishmash of counties, cities, burghs and districts, with a uniform two-tier system of regional and district councils. Since the Local Government etc. (Scotland) Act 1994, the former Tayside has been divided into the council areas of Angus, the City of Dundee and Perth and Kinross, which had previously been the region's districts. Tayside Regional Council directly operated local bus services in the City of Dundee from 1975 until 1986, when bus deregulation under terms of the Transport Act 1985 was implemented. The restructured Tayside Buses became employee-owned in 1991, was sold to National Express in 1997, and today trades as Xplore Dundee. Continued use Tayside ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wealth Of Nations
''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the ''magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets. History ''The Wealth of Nations'' was published in two volumes on 9 March 1776 (with books I–III included in the first volume and books IV and V included in the second), during the Scottish Enlightenment and the Scottish Agricultural Revolution. It influenced several authors and economists, such as Karl Marx, as well as governments and organizations, setting the terms for economic debate and discussion fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
