1812, When Big Banks Could Go Bankrupt

2nd of January, 1812. London was the world’s financial capital, and “Boldero and Lushington” were one of the biggest and best known financial firms in 19th century London.

Photograph of two winged statues joining hands at an angle on top of the National Audit Office in London
National audit Office, London, photographed by the author February 2011

The firm started in 1738, under the name of “Thomas Miners.” In 1742, when Charles Boldero joined the firm, it became “Miners and Boldero.”  As the Boldero family’s influence in the firm increased, so did both their fortunes.

So it was a huge surprise when, on January 2nd 1812, Boldero, Lusington, Boldero and co. stopped making payments. Continue reading 1812, When Big Banks Could Go Bankrupt