Contagion to the Dutch Republic
- When
- December 1772 – January 1773
- Where
- Amsterdam, Dutch Republic
- Part of
- Credit Crisis of 1772
The crisis extended to Amsterdam, where plantation-loan portfolios failed and trade between London and Amsterdam halted.
The crisis spread from London to the Dutch Republic. In December 1772, Clifford & Co, a well-established Amsterdam banking firm holding plantation loans, declared insolvency. Before 1772, at least 40 bundles of plantation loans had been issued. In the first week of January 1773, trade and finance between London and Amsterdam came to a halt. The turnover of the Amsterdam Exchange Bank plummeted from more than 50 million guilders in 1772 to 30 million in 1773.
Sources
- British credit crisis of 1772–1773 Wikipedia
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