From the wealthy merchant to the backwoods farmer, Mann tells the personal stories of men and women struggling to repay their debts and stay ahead of their creditors. He opens a window onto a society undergoing such fundamental changes as the growth of a commercial economy, the emergence of a consumer marketplace, and a revolution for independence. In addressing debt Americans debated complicated questions of commerce and agriculture, nationalism and federalism, dependence and independence, slavery and freedom. And when numerous prominent men--including the richest man in America and a justice of the Supreme Court--found themselves imprisoned for debt or forced to become fugitives from creditors, their fate altered the political dimensions of debtor relief, leading to the highly controversial Bankruptcy Act of 1800.
Whether a society forgives its debtors is not just a question of law or economics; it goes to the heart of what a society values. In chronicling attitudes toward debt and bankruptcy in early America, Mann explores the very character of American society.
About Bruce H. MannSee more books from this Author
Morgan of his day, who “embraced debt as the engine of his vast speculations” and refused to “moralize failure.” In the author’s view, Morris perfectly illustrates the reigning attitudes of the time: on the one hand, economic failure was personal failure, but on the other it was simply part of th...| Read Full Review of Republic of Debtors: Bankrupt...