10 Facts About Alexander Fordyce


Alexander Fordyce was an eminent Scottish banker, centrally involved in the bank run on Neale, James, Fordyce and Downe which led to the credit crisis of 1772.

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Alexander Fordyce used the profits from other investments to cover the losses.

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Alexander Fordyce was brother to David, Agnes, James, and William Fordyce.

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Alexander Fordyce was educated by his uncle Thomas Blackwell, principle and lecturing common law at Marischal College and who became his brother-in-law in 1751.

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Alexander Fordyce was appointed rector of the Marischal College, Aberdeen in the same year.

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Alexander Fordyce entered a series of fetes, banquets and entertainment, which threw those of the royalty in the shade.

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Alexander Fordyce lost £300,000 shorting East India Company stock, leaving his partners liable for an estimated £243,000 in debts.

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Alexander Fordyce had speculated away the bank's assets and lost the backing of the Bank of England.

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Alexander Fordyce went through an examination at the Guildhall and declared personal bankruptcy.

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Alexander Fordyce was again the defeated candidate at Colchester in 1780.

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