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Ayr Bank
Douglas, Heron & Company, also known as the Ayr Bank, was a Scotland, Scottish bank with its head office at Ayr, Scotland, 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 (1736–1803), Patrick Heron of Kirroughtree, the Earl of Dumfries, the Earl of March, and Sir Adam Fergusson, 3rd Baronet, Sir Adam Fergusson of Kilkerran. Many of the partners were substantial landowners, such as the Henry Scott, 3rd Duke of Buccleuch, Duke of Buccleuch, the Duke of Queensberry, and Archibald Douglas, 1st Baron Douglas. The bank was established under a partnership, 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' l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scotland
Scotland is a Countries of the United Kingdom, country that is part of the United Kingdom. It contains nearly one-third of the United Kingdom's land area, consisting of the northern part of the island of Great Britain and more than 790 adjacent Islands of Scotland, islands, principally in the archipelagos of the Hebrides and the Northern Isles. To the south-east, Scotland has its Anglo-Scottish border, only land border, which is long and shared with England; the country is surrounded by the Atlantic Ocean to the north and west, the North Sea to the north-east and east, and the Irish Sea to the south. The population in 2022 was 5,439,842. Edinburgh is the capital and Glasgow is the most populous of the cities of Scotland. The Kingdom of Scotland emerged as an independent sovereign state in the 9th century. In 1603, James VI succeeded to the thrones of Kingdom of England, England and Kingdom of Ireland, Ireland, forming a personal union of the Union of the Crowns, three kingdo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptised 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the field of political economy and key figure during the Scottish Enlightenment. Seen by some as the "father of economics"——— or the "father of capitalism".———— He is known for 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 regarded as his ''magnum opus'', marking the inception of modern economic scholarship as a comprehensive system and an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of divine will and instead appeals to natural, political, social, economic, legal, environmental and technological factors, as well as the interactions among them. The work is notable for its contribution to economic theory, particularly in its exposition o ... [...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. As 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 ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1772 Disestablishments In Scotland
Year 177 ( CLXXVII) was a common year starting on Tuesday 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 become Roman Consuls. * Commodus is given the title ''Augustus'', and is made co-emperor, with the same status as his father, Marcus Aurelius. * A systematic persecution of Christians begins in Rome; the followers take refuge in the catacombs. * The churches in southern Gaul are destroyed after a crowd accuses the local Christians of practicing cannibalism. * Forty-eight Christians are martyred in Lyon (Saint Blandina and Pothinus, bishop of Lyon, are among them). [...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 not to allow MP John Wilkes to take his seat after he wins a by-election, on the grounds that he was an outlaw when standing. * 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 – Jame ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Scotland
{{Disambiguation ...
Defunct 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 process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...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. It is considered one of the best economic history journals along with the European Review of Economic History, Explorations in Economic History and the Economic History Review. Its 2016 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a type of journal ranking. Journals with higher impact factor values are considered more prestigious or important within their field. The Impact Factor of a journa ... is 1.101. References External ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Review
''The Economic History Review'' is a Peer review, 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 Editor-in-chief, edited by Sara Horrell, Jaime Reis and Patrick Wallis. Its first editors were Ephraim Lipson, E. Lipson and R. H. Tawney and other previous editors include Michael Postan, M. M. Postan, John Habakkuk, 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. The editorial board counts 21 other editors, including Jane Humphries and Debin Ma from the University of Oxford and 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 o ... [...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 w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tayside Meal Mobs
The Tayside Meal Mobs were episodes of civil unrest caused by the poverty of the people of Dundee, Scotland, in 1772 and 1773. Background The riots were sparked from a series of events fuelled by the "spirit of overtrading" from the 1760s culminating in the collapse of Douglas, Heron & Company in 1772 and other small banks, whose activities led to the bankruptcy and/or ruin of multiple Scottish landlords which in turn led to widespread poverty amongst the population. The collapse of the Scottish linen industry from 1769 to 1772 chiefly affected Perthshire, Fife and Angus. A 30% drop in production caused a wave of unemployment and ensuing poverty. The drop in price of linen, 25% reduced between 1769 and 1772, further compounded the problems. The Riots Public riots began in the winter of 1772, with desperate workers blocking transport of grain out of the harbour and raiding warehouses in Dundee in order to feed their families. Riots also took place in Perth. Further riots took pl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wealth Of Nations
''An Inquiry into the Nature and Causes of the Wealth of Nations'', usually referred to by its shortened title ''The Wealth of Nations'', is a book by the Scottish people, Scottish economist and moral philosophy, moral philosopher Adam Smith; published on 9 March 1776, it offers one of the first accounts of what builds nations' wealth. It has become a fundamental work in classical economics, and been described as "the first formulation of a comprehensive system of political economy". Reflecting upon economics at the beginning of the Industrial Revolution, Smith introduced key concepts such as the division of labour, productivity, free markets and the role prices play in resource allocation. The book fundamentally shaped the field of economics and provided a theoretical foundation for free market capitalism and economic policies that prevailed in the 19th century. A product of the Scottish Enlightenment and the dawn of the Industrial Revolution, the treatise offered a critical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
