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The Perreaus and Mrs. RuddForgery and Betrayal in Eighteenth-Century London$
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Donna Andrew

Print publication date: 2001

Print ISBN-13: 9780520220621

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520220621.001.0001

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Private Credit and Public Confidence

Private Credit and Public Confidence

(p.136) Six Private Credit and Public Confidence
The Perreaus and Mrs. Rudd

Donna T. Andrew

Randall McGowen

University of California Press

This chapter examines the Perreau trial that took place against a backdrop of extraordinary financial uncertainties in the 1770s. It reveals the shape of financial credit in these years—its foundation in acquaintance and reputation—and threatens to expose its more disturbing underside. It notes that the financial crisis of 1772 left the public shocked, angry, suspicious, and many innocent people suffered from the frenzied and often unscrupulous speculation that led to the collapse, and there was a bitter outcry against those held responsible. It observes that to contemporaries, the disclosure of the Perreaus' activities both confirmed their worst fears about the vulnerability of private credit and reminded them of the dangers of stock-jobbing.

Keywords:   Perreau trial, financial credit, financial crisis of 1772, private credit, stock-jobbing

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