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Panic Of 1796–1797
The Panic of 1796–1797 was a series of downturns in credit markets in both Great Britain and the newly established United States in 1796 that led to broader commercial downturns. In the United States, problems first emerged when a land speculation bubble burst in 1796. The crisis deepened when the Bank of England suspended specie payments on February 25, 1797 under the Bank Restriction Act of 1797. The Bank's directors feared insolvency when English account holders, who were nervous about a possible French invasion, began withdrawing their deposits in sterling rather than bank notes. In combination with the unfolding collapse of the U.S. real estate market's speculative bubble, the Bank of England's action had deflationary repercussions in the financial and commercial markets of the coastal United States and the Caribbean at the start of the 19th century. The scandals associated with these and other incidents prompted the U.S. Congress to pass the Bankruptcy Act of 1800, mod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingdom Of Great Britain
The Kingdom of Great Britain (officially Great Britain) was a Sovereign state, sovereign country in Western Europe from 1 May 1707 to the end of 31 December 1800. The state was created by the 1706 Treaty of Union and ratified by the Acts of Union 1707, which united the kingdoms of Kingdom of England, England (which included Wales) and Kingdom of Scotland, Scotland to form a single kingdom encompassing the whole island of Great Britain and its outlying islands, with the exception of the Isle of Man and the Channel Islands. The unitary state was governed by a single Parliament of Great Britain, parliament at the Palace of Westminster, but distinct legal systems – English law and Scots law – remained in use. The formerly separate kingdoms had been in personal union since the 1603 "Union of the Crowns" when James VI of Scotland became King of England and King of Ireland. Since James's reign, who had been the first to refer to himself as "king of Great Britain", a political un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speculation
In finance, speculation is the purchase of an asset (a commodity, good (economics), goods, or real estate) with the hope that it will become more valuable shortly. (It can also refer to short sales in which the speculator hopes for a decline in value.) Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. In principle, speculation can involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocks, bond (finance), bonds, commodity futures, currency, currencies, fine art, collectibles, real estate, and derivative (finance), derivatives. Speculators play one of four primary roles in financial markets, along with hedge (finance), hedgers, who engage in transactions to offset some other pre-existing risk, arbitrageus who seek to profit from situations where Fungibility, fungible instruments trade at different prices in different market segments, and investors who s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Napoleonic Wars
The Napoleonic Wars (1803–1815) were a series of major global conflicts pitting the French Empire and its allies, led by Napoleon I, against a fluctuating array of European states formed into various coalitions. It produced a period of French domination over most of continental Europe. The wars stemmed from the unresolved disputes associated with the French Revolution and the French Revolutionary Wars consisting of the War of the First Coalition (1792–1797) and the War of the Second Coalition (1798–1802). The Napoleonic Wars are often described as five conflicts, each termed after the coalition that fought Napoleon: the Third Coalition (1803–1806), the Fourth (1806–1807), the Fifth (1809), the Sixth (1813–1814), and the Seventh (1815) plus the Peninsular War (1807–1814) and the French invasion of Russia (1812). Napoleon, upon ascending to First Consul of France in 1799, had inherited a republic in chaos; he subsequently created a state with stable financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Wilson (Founding Father)
James Wilson (September 14, 1742 – August 21, 1798) was a Scottish-born American Founding Father, legal scholar, jurist and statesman who served as an associate justice of the United States Supreme Court from 1789 to 1798. Wilson was elected twice to the Continental Congress, was a signatory of the Declaration of Independence, and was a major participant in drafting the U.S. Constitution. A leading legal theorist, he was one of the first four Associate Justices appointed to the Supreme Court by George Washington. In his capacity as the first professor of law at the College of Philadelphia (later to become the University of Pennsylvania), he taught the first course on the new Constitution to President Washington and his Cabinet in 1789 and 1790. Born near Leven, Fife, Scotland, Wilson emigrated to Philadelphia in 1766 and became a teacher at the College of Philadelphia. After studying law under John Dickinson, he was admitted to the bar and set up legal practice in Reading, Pen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medium Of Exchange
In economics, a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange is currency. The origin of "mediums of exchange" in human societies is assumed to have arisen in antiquity as awareness grew of the limitations of barter. The form of the "medium of exchange" follows that of a token, which has been further refined as money. A "medium of exchange" is considered one of the functions of money. The exchange acts as an intermediary instrument as the use can be to acquire any good or service and avoids the limitations of barter; where what one wants has to be matched with what the other has to offer. Most forms of money are categorised as mediums of exchange, including commodity money, representative money, cryptocurrency, and most commonly fiat money. Representative and fiat money most widely exist in digital form as well as physical tokens, for example coins and notes. Overcom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Promissory Note
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of money to the other (the ''payee''), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions. Overview The terms of a note usually include the principal amount, the interest rate if any, the parties, the date, the terms of repayment (which could include interest) and the maturity date. Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets. In foreclosures and contract breaches, promissory notes under CPLR 5001 allow creditors to recover prejudgement interest from the date interest is due until liability is established. For loans between individuals, writing and signing a promissory note are often ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North American Land Company
North is one of the four compass points or cardinal directions. It is the opposite of south and is perpendicular to east and west. ''North'' is a noun, adjective, or adverb indicating direction or geography. Etymology The word ''north'' is related to the Old High German ''nord'', both descending from the Proto-Indo-European unit *''ner-'', meaning "left; below" as north is to left when facing the rising sun. Similarly, the other cardinal directions are also related to the sun's position. The Latin word ''borealis'' comes from the Greek '' boreas'' "north wind, north", which, according to Ovid, was personified as the wind-god Boreas, the father of Calais and Zetes. ''Septentrionalis'' is from ''septentriones'', "the seven plow oxen", a name of ''Ursa Major''. The Greek ἀρκτικός (''arktikós'') is named for the same constellation, and is the source of the English word ''Arctic''. Other languages have other derivations. For example, in Lezgian, ''kefer'' can mean ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington D
Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered on Washington, D.C. * George Washington (1732–1799), the first president of the United States Washington may also refer to: Places England * Washington, Tyne and Wear, a town in the City of Sunderland metropolitan borough ** Washington Old Hall, ancestral home of the family of George Washington * Washington, West Sussex, a village and civil parish Greenland * Cape Washington, Greenland * Washington Land Philippines *New Washington, Aklan, a municipality *Washington, a barangay in Catarman, Northern Samar *Washington, a barangay in Escalante, Negros Occidental *Washington, a barangay in San Jacinto, Masbate *Washington, a barangay in Surigao City United States * Washington, Wisconsin (other) * Fort Washington (disambiguatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Nicholson (financier)
John Nicholson may refer to: In politics * John Nicholson (Yarmouth MP), Member of Parliament for Great Yarmouth 1698–1700, 1702–08 *John Nicholson (New York politician) (1765–1820), United States Representative from New York * John A. Nicholson (1827–1906), United States Representative from Delaware *John Nicholson (New South Wales politician) (1840–1919), New South Wales politician *John Robert Nicholson (1901–1983), Canadian former Lieutenant-Governor of British Columbia *John Sanctuary Nicholson (1863–1924), British politician and soldier *John Nicholson (Western Australian politician) (1867–1941), Western Australian politician In sports * John Nicholson (footballer, born 1936) (1936–1966), English footballer * John Nicholson (Scottish footballer) (1888–1970), Scottish footballer *John Nicholson (racing driver) (1941–2017), New Zealand racing driver *John Nicholson (football secretary) (1864–1932), 'manager' of Sheffield United F.C. *John Nicholson (athl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Morris (financier)
Robert Morris Jr. (January 20, 1734May 8, 1806) was an English-born merchant and a Founding Father of the United States. He served as a member of the Pennsylvania legislature, the Second Continental Congress, and the United States Senate, and he was a signer of the Declaration of Independence, the Articles of Confederation, and the United States Constitution. From 1781 to 1784, he served as the Superintendent of Finance of the United States, becoming known as the "Financier of the Revolution." Along with Alexander Hamilton and Albert Gallatin, he is widely regarded as one of the founders of the financial system of the United States. Born in Liverpool, Morris migrated to North America in his teens, quickly becoming a partner in a successful shipping firm based in Philadelphia. In the aftermath of the French and Indian War, Morris joined with other merchants in opposing British tax policies such as the 1765 Stamp Act. By 1775 he was the richest man in America. After the outbreak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Greenleaf
James Greenleaf (June 9, 1765 – September 17, 1843) was a late 18th and early 19th century American land speculator responsible for substantial of the newly designated capital of Washington, D.C. after 1790. A member of a prominent and wealthy Boston family, he married a Dutch noblewoman, who he later abandoned and then divorced, and served briefly as consul at the United States embassy in Amsterdam. After his return to the United States, Greenleaf engaged in land speculation in Washington, D.C., New York state, and other areas. His land business collapsed in 1797, and he spent a year in debtor's prison. He married a wealthy Pennsylvania heiress after his release, and spent the remainder of his life in genteel poverty, fending off lawsuits. Early life and education James Greenleaf was born on June 9, 1765, in Boston, Massachusetts to William and Mary (Brown) Greenleaf. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Paper
Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of rarely more than 270 days. In layperson terms, it is like an " IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the creditworthiness of the issuing company. Commercial paper is a money-market security issued by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note. Since it is not backed by collateral, only firms with excellent credit ratings from a recognized credit rating agency will be able to sell their commercial paper at a reasonable price. Commercial paper is usually sold at a discount from face value and generally carries lower interest repayment rates than bonds due to the sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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