Category Archives: Fourth of July

Celebrating Independence Part III: Bankruptcy is as American as Sam Adams & Apple Pie!

Samuel Adams Public Domain

Over the Fourth of July weekend, many Americans enjoyed a beer named after Patriot Samuel Adams. But in addition to being a famous Patriot, and a leader of the Boston Tea Party in 1773, Samuel Adams was also famous for something many other Americans have experienced, being broke. His business, making malt for brewers, didn’t…

Celebrating Independence, Part II: Thomas Jefferson, from Declaration to Debtor

Thomas Jefferson, Debtor

It is widely known that Thomas Jefferson wrote the Declaration of Independence and became the Third President of the United States. His financial problems are perhaps less well known. During his presidency, Jefferson went into debt to pay for state dinners at the White House. ¬†Uncle Sam never reimbursed him.* After Jefferson left the White…

Celebrating Independence Part I: Did Bankruptcy Cause the American Revolution?

Ben Franklin

Okay, so there were probably a few other reasons for the American Revolution – democratic ideals, self-governance, yadda, yadda, yadda. But would you be surprised to find out that American Debt Relief was one of the factors motivating the Colonists to declare independence? The British Parliament imposed taxes on the Colonies to pay for Britain’s…

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 Unported License.