2284. DUER (William), Failure of.—
The stock-jobbing speculations have occupied
some of our countrymen to such a degree as to
give sincere uneasiness to those who would
rather see their capitals employed in commerce,
manufactures, buildings and agriculture. The
failure of Mr. Duer, the chief of that description
of people, has already produced some other
bankruptcies, and more are apprehended. He
had obtained money from great numbers of
small tradesmen and farmers, tempting them by
usurious interest, which has made the distress
very extensive.—
To David Humphreys.
Ford ed., v, 502.
(Pa.,
April. 1792)
