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56. Alexander Catherine (Kitty)-5360 (William Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ).
http on Livingston of New York by Mary Van Deusen.
Catherine married Capitalist, Am Rev contractor Duer William-5357 son of Planter Antigua and Dominica Duer John-196346 and Frye Frances-196347 on 27 Jul 1779 in America. William was born in 1743/1747 in Devonshire England. He died in 1799 in NYC.
gapskey Contractor, military. William Duer. Code-US. http://www.wargs.com/ http://www.sewellgenealogy.com/ Article on Duer and Business of Govt. copy held. See PCF Smith re his role in Empress of China. See ADB, married Catherine (Kitt) Alexander, dr of a general in American Rev, William Alexander. This man is Am Patriot and Capitalist, born Devonshire England, educated Eton, served as aide-de-camp to Clive of India, in India, spent time on father's estates in West Indies, in 1768 went to New York, contract to supply royal navy with masts, above Saratoga on Hudson. On committee of public safety, one of largest contractors for army in Am Rev, Sec Board of Treasury 1786-1789, second only to Robert Morris as financier of the day, once a partner with Morris, involved in Ohio Co., a prime mover of Scioto (sic) Land Co., one of the largest land companies being promoted, sued by US Govt re his period at Treasury, his ruin helped the panic of 1792. See J. S. Davis, Essays in the Earlier History of America's Corporation. 1917. [Which is not in Dixon Library]. Contractor American William Duer, Cf., Robert F. Jones, “The King of the Alley”: William Duer: Politician, Entrepreneur, and Speculator, 1768-1799. Philadelphia, American Philosophical Society, 1992. WD speculated in govt. securities, promoted land, an army contractor, a one-time sec of Board of Treasury, he floated the Scioto Land Company, one of the biggest land companies, Robert Morris gave Duer one of the first ever contracts Morris issued as superintendent of Finance of the Continental Congress. Duer = a “feeder at the public trough”, WD has an early partner, Robert Snell, who is a poor manager, to1771-1772 WD deals with Canadian firm Phynn, [Alexander] Ellice and Co., WD suggests they apply to supply British army outposts in Great Lakes area, despite high start-up costs of entering into any army contract, then WD visited London, failed, also failed to sell masts to Navy, Snell a poor manager, so partnership dissolved, WD asks for credit from Stephen Sayre at the time the head of a London banking firm, which one? Then WD takes the American side, p. 65 re Duer, deal of 1779 with Silas Deane, John Holker. plus Pennsylvania jurist and land speculator, James Wilson, to supply masts to Spanish navy, this James Wilson has a brother-in-law Mark Bird, an ironmaster of Reading, Pennsylvania. See also re links to Macomb, William Duer and the Crash of 1792 by Brian Trumbore at http://mlloyd.org/gen/macomb/text/amsr/8699.html - a copy of which follows - William Duer and the Crash of 1792
Brian Trumbore
President/Editor, StocksandNews.comThere once was a man named William Duer. Born in England in 1743, Duer was the son of a very successful West Indian planter. Educated at Eton, Duer settled in America in 1773, became sympathetic with the colonists grievances against Britain and, at the same time, he quickly began to hold positions of importance in New York society. Duer regaled his friends and associates at dinner at his home on Broadway, not far from Wall Street, where Trinity Church is still located. At his wedding to Catherine Alexander ("Lady Kitty"), the bride was given away by George Washington.
Duer became a member of the Continental Congress, a New York judge, and a signer of the Articles of Confederation. He was also secretary to the Board of the Treasury (appointed by Alexander Hamilton), a position that made him privy to the inner workings of American finance in the late 1780s. Hamilton, our first Treasury Secretary, was honest and never profited from his government position. Duer, on the other hand, saw nothing wrong with using information he was privy to to try and make a fast buck.
The Duer/Hamilton relationship was to have its trying moments. Duer had been instrumental in helping Hamilton establish the Bank of New York. Hamilton would attempt to bail Duer out of some major problems, later.
Duer had made his fortune in land and speculating on the Revolutionary debt. In 1791, Duer resigned his Treasury position and entered into a partnership with Alexander Macomb, one of New York's richest and most prominent citizens. They agreed to combine Macomb's money and Duer's speculative talents and insider connections with the Treasury Department. Duer began speculating on Bank of New York stock when there were rumors that it was to be bought by the Bank of the U.S. If true, the stock was sure to rise. But while long in the market with Macomb, he was short (betting the stock would go down) Bank of New York in his own account. If the merger failed, Duer and Macomb would lose, but Duer, on his own, would make a fortune. Since his agreement with Macomb called for using Macomb's money, not his own, all Duer had to lose by double-crossing his partner was honor, a sacrifice he seemed perfectly willing to make.
Hamilton, unaware of Duer's duplicity, but appalled at his speculative activities wrote on March 2, 1792. "'Tis time, there must be a line of separation between honest Men & knaves, between respectable Stockholders and dealers in the funds, and mere unprincipled Gamblers."
Duer became the center of attention and many were only too anxious to lend him money in hopes of getting in on the bandwagon. He began to buy other bank stocks for future delivery, betting that rising prices would enable him to pay for them when the time came.
But at the same time there were others who had an interest in seeing that prices fell, namely the Livingston clan, one of the richest families in the New York area. To ensure this, they began to withdraw gold and silver from their bank deposits, contracting the local money supply and forcing banks to call in loans, thus instituting a credit squeeze. Interest rates soared to as much as one percent a day.
This was ruinous for Duer and others who had borrowed to speculate. Desperate, he tried to borrow more to cover his obligations (All-Tech and Momentum Securities weren't around then to help him out), but there was none to be had.
With his fall, panic ensued. Immediately, Duer was thrown in debtors prison and Macomb ended up there as well. Alexander Hamilton, however, rode to the rescue and ensured that the country as a whole didn't suffer. He ordered the Treasury to purchase several hundred thousand dollars worth of federal securities to support the market, and he urged banks not to call in loans. Soon, calm quickly returned. According to historian John Steele Gordon, "It would be 195 years, until the great crash of 1987, before the federal government once again moved decisively to prevent a panic."
Because Duer often traded on insider information, he earned the distinction of being the first to do so. Within a month of his collapse and the crash that followed, the auctioneers and dealers resolved to move themselves in from the street and the coffeehouses and to find a more permanent location. It became apparent that the marketplace needed a central location so that dealings could be better controlled and better records kept. In May 1792, dealers and auctioneers entered the Buttonwood Agreement. Meeting under a buttonwood tree, today the location of 68 Wall Street, the traders agreed to establish a formal exchange for the buying and selling of shares and loans (bonds).
And what became of Duer? Hamilton tried to intervene on his behalf but was only able to obtain a short reprieve. Duer soon ended up back in prison and he died there in 1799.
[Sources:
"Wall Street: A History," by Charles Geisst
"The Great Crash of 1792," an article in the May/June issue of American Heritage magazine, written by John Steele Gordon]"Brian Trumbore See Notes on Rucker families by Ken Cozens 2010 with some remarks from Dr. Margrit Schulte (of Germany).
William and Catherine had the following children:
+ 77 M i Jurist Duer William Alexander-5361 was born in 1780. He died in 1858. + 78 F ii Duer Maria Theodora-367740 was born in 1790. She died in 1837. + 79 F iii Duer Henrietta Elizabeth-447086 was born in 1790. She died in 1839. + 80 M iv Duer John-447102 was born in 1782. + 81 F v Duer Frances-447103 was born in 1785. + 82 F vi Duer Sarah Henrietta Livingston-447104 was born in 1786. 83 M vii Jurist New York Duer John-5363 was born in 1782 in Albany. He died in 1858 in Staten Island.
Studied law in Alexander Hamilton's office. Became an expert in insurance law including marine insurance. See also http on Livingston of New York by Mary Van Deusen.
58. "Gentleman Phil" Livingstone Philip Peter-267954 (Mary Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1740. He died in 1810.
http on Livingston of New York by Mary Van Deusen.
Philip married Van Horne Cornelia Kitty-267955 daughter of Van Horne Progenitor-267957 and VNotknown Miss-267958.
http on Livingston of New York by Mary Van Deusen.
Philip and Cornelia had the following children:
+ 84 M i Livingstone Peter Van Brugh-267956 was born in 1791. He died in 1856. + 85 M ii Livingstone Charles Ludlow-420056 was born in 1800.
59. Livingstone Catharine-343808 (Mary Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ).
Catharine married Bayard Nicholas-343807 son of Bayard Nicholas-343800 and wife1 Snyders Elizabeth Rynders-343805. Nicholas was born in 1736.
Tim Dowling website.
Nicholas and Catharine had the following children:
86 F i Bayard Mary or Maria-343818. Mary married Of Georgia Houston William Houstoun-343848 son of Sir Bart5 of Royal Govt Georgia Houston Patrick-343830 and Dunbar Priscilla-343741. 87 F ii Bayard Anne Livingstone-343819. Anne married Dir of New York Bayard Nicholas Serl-343849 son of Bayard Senior-343850 and BNotknown Miss-343851.
ux48 for more+ 88 F iii Bayard Eliza-343820. + 89 F iv Bayard Katherine Ann-343821. + 90 F v Bayard Margaret Sarah-343823.
60. Livingstone Susannah-361344 (Mary Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ).
No notes.
Susannah married Member Continental Congress Kean John-361343 son of Kean Progenitor-361345 and KNotknown Miss-361346. John was born about 1756 in Beaufort Sth Carolina.
His father came from the West Indies.
John and Susannah had the following children:
+ 91 M i Kean Peter Philip James-361341.
61. Stevens Mary-265635 (Elizabeth Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1752. She died in 1814.
http on Livingston of New York by Mary Van Deusen. Livingston http update.
Website by Harry Owen at http://awt.ancestry.com/cgi-bin &c
Mary married Chancellor Livingstone Robert R.-265634 son of Judge, New York Whig Livingstone Robert-3704 and Beekman Margaret-447236. Robert was born in 1746 in NYC. He died in 1813 in Clermont, NY.
He is a might-have-been Signer ofthe American Declaration of Independenc. He financially assists Robert Fulton and his partner with manufacture of first steamboat (and as a website says, for some time held a monopoly on Hudson river navigation). He is US Minister Plenipotentiary to France in 1801-1804 and negotiated the Louisiana Purchase. He is a brother of Edward and a nephew of Philip. Livingston http update. http on Livingston of New York by Mary Van Deusen. /Livingstone/ Robert Lawyer Louisiana Purchase - Website by Harry Owen at http://awt.ancestry.com/cgi-bin &c Code-US. See also http per Linda Minor. He is a partner with John Jay, and he conducted negotations for the Louisiana Purchase, so see if he fits in with information on Baring in London. Encyclopedia entry = Spain had retroceded Louisiana to France which made the US uneasy, Livingston in France was ordered to buy whatever territory; together with James Monroe using $2 million voted by Congress, see re Napoleon's view, and on 11 April, 1803, Tallyrand anticipating Napoleon's likely view asked Livingston what US might likely pay for Louisiana, = Livingston quite surprised. Franced wanted about US $15 million. See J. K. Hosmer, The History of the Louisiana Purchase. 1920.
Robert and Mary had the following children:
+ 92 F i Livingstone Elizabeth Stevens-266897 was born in 1780. She died in 1829. + 93 F ii Livingstone Margaret Maria-443568 was born in 1783. She died in 1818.
62. Colonel of Hokoben Stevens John-443579 (Elizabeth Alexander , Marion Spratt , Maria DePeyster , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1749 in New York. He died in 1838.
gapskey His own wikipedia entry. Hokoben was a town built on confiscated Tory land which he bought at public auction. Lawyer, inventor and engineer. Became interested in steamboats.
John married Cox Rachel-443580 daughter of Cox Progenitor-443582 and CNotknown Miss-443583. Rachel was born in 1761. She died in 1839.
She had eleven children.
John and Rachel had the following children:
+ 94 M i Stevens Edwin Augustus-443581 was born in 1795. He died in 1868. 95 M ii Stevens John Cox-443584 was born in 1785. He died in 1857.
He is first commodore of New York Yacht Club.96 M iii Stevens Robert Livingston-443585 was born in 1787. He died in 1856.
President of first railroad built in New Jersey, Camden and Amboy Railroad.
63. Merchant Lawyer Douw John Depewster-420084 (Anna DePeyster , Johannes III , Johannes II , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1756. He died in 1835.
He had three wives.
John married (1) wife1 Beekman Deborah-420159 daughter of Mayor of Albany NY Beekman Johannes Jocabse-420206 and Sanders Maria-420207.
She is dr of a Mayor of Albany New York.
John and Deborah had the following children:
+ 97 M i Merchant of Albany Douw Volkert Peter-420200 was born in 1790. He died in 1869. 98 F ii Douw Ann dePeyster-420247 was born in 1797. She died in 1871 in Albany NY. Ann married (1) Lush Samuel Stringer-420248 son of Lush Progenitor-420257 and LNotknown Miss-420258. Ann married (2) Cuyler William Tremper-420249 son of Cuyler John Cornelius-420250 and Maley Hannah-420251. William was born in 1802 in Albany NY. He died in 1864. 99 M iii Douw John de Peyster-420252 was born in 1812 in Albany NY. He died in 1901. John married (1) Van Rensselaer Margaret Schuyler-367236 daughter of Van Rensselaer Stephen IV-267935 and Bayard Harriet Elizabeth-267936. Margaret was born in 1819 in Albany NY. She died in 1897. John married (2) wife2 Lanman Marianne Chandler-367237 daughter of Lanman Progenitor-448533 and LNotknown Miss-448534.
John married (2) wife2 Of Duchess County Livingstone Margaret-420160 daughter of Livingstone Peter Robert-199395 and Livingstone Margaret-199396. Margaret died in 1802.
She had four cihldren.
John married (3) wife3 Gansevoort Catherine-420161 daughter of Lawyer Gansevoort Leonard Jnr-420196 and van Rensselaer Maria-420197 in 1811. Catherine was born in 1782.
She is cousin of husband and his third wife. She had four children.
66. Douw Maria-420244 (Anna DePeyster , Johannes III , Johannes II , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1760. She died in 1818.
Maria married Ten Eyck Johannes dePeyster-420245 son of Ten Eyck Tobias-420083 and DePeyster Rachel-420081. Johannes died in 1798.
They had the following children:
100 M i Ten Eyck John dePeyster-420246 was born in 1788.
67. Ten Eyck Johannes dePeyster-420245 (Rachel DePeyster , Johannes III , Johannes II , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) died in 1798.
Johannes married Douw Maria-420244 daughter of Captain Douw Volkert Petrus-420082 and DePeyster Anna-420080. Maria was born in 1760. She died in 1818.
They had the following children:
101 M i Ten Eyck John dePeyster-420246 is printed as #100.
68. van Cortlandt Catherine-267337 (Pierre van Cortlandt , Catherine DePeyster , Abraham , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1751. She died in 1829.
Catherine married Van Wyck Abraham-267338 son of Van Wyck Progenitor-267341 and VNotknown Miss-267342. Abraham died in 1786.
They had the following children:
102 M i Van Wyck Theodorus Cortlandt-267339. Theodorus married Stretch May Howell-267340 daughter of Stretch Progenitor-267343 and SNotknown Miss-267344.
70. DePeyster Cornelia Maria-420162 (Arent Schuyler , Pierre William , Abraham , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) died in 1881.
thepeerage.com.
Cornelia married Chance George-420163 son of Chance William-420164 and Lucas Sarah-420165.
thepeerage.com.
George and Cornelia had the following children:
103 M i Chance Alexander Macomb-420191 was born in 1844 in Birmingham. He died in 1917.
ux34.
71. Livingstone Philip John-356285 (Catharine DePeyster , Abraham , Abraham , Johannes , Johannes , Johannes , Josse , Josse , Josse , Hughes , Progenitor ) was born in 1744. He died in 1818.
Philip married Bayard Frances-356286 daughter of Bayard Progenitor-267978 and BNotknown Miss-267314. Frances was born in 1724.
gapskey for parents
Philip and Frances had the following children:
+ 104 F i Livingstone Amelia-356278.
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