[Business, Industry & Finance] [Panic of 1792] The Concern of William Duer, Alexander Mb & Isaac Whippo in Account Current with Francis IngrahamContemporary Account Ledger Related to the Panic of 1792, America's First Financial Crisis, Detailing Losses Of Three Of Its Perpetrators(Philadelphia), July 20, 1792. One sheet, 17 3/8 x 22 3/8 in. (441 x 568 mm) Manuscript ledger sheet, titled “The Concern of William Duer, Alexander Mb & Isaac Whippo in Account Current with Francis Ingraham”, detailing Ingraham's extensive financial activity with Duer, Mb, and Whippo, et al., totaling $301,286.39. Endorsed on verso by Ingraham: “July 20 1792/Error Excepted/Francis Ingraham.” Unevenly toned; old folds; scattered ink stains.Francis Ingraham (1764-1848), was a brokerage agent for many securities speculators of the time, and was the Philadelphia representative for William Duer and his stock interests. This account ledger covers the period of January through July, 1792, and mentions: Clement Biddle (1740-1814); President of the First Bank of the United States, Thomas Willing (1731-1821); John Pintard (1759-1844); former Continental Army surgeon Isaac Bronson (1760-1838); merchant John Swanwick (1760-1798); Thomas L. Moore; Richard Footman; Edward Fox; Samuel Anderson; Daniel Parker; John Williams; Joseph Boggs; Lewis Deblois; Joseph Anthony; Samuel Hays; Pearson Hunt; Benjamin Walker; E. Randolph; Thomas McEwen; George Eddy; Andrew Summers; James Glentworth; the firms of Lewis and Tilghman, Gardner and Rodman, and Hazard and Addams.William Duer (1743-99) was a British-born Continental Congressman, Signer of the Articles of Confederation, and served as Assistant Secretary of the Treasury. Following the American Revolution, he became heavily involved in land speculating and the trading of U.S. securities. In 1791, the First Bank of the United States was founded, and shortly thereafter introduced the sale of "scrips" (stocks), as outlined in the original plan proposed by First Secretary of the Treasury, Alexander Hamilton. Duer continued land speculating but began recklessly trading bank scrips, and allied himself with Alexander Mb (1748-1831) a wealthy fur trader and speculator who had acquired millions of acres of land in western New York dubbed “Mb’s Purchase.” The men agreed to jointly speculate in stocks, and formulated a plan to control the U.S. market by pooling their resources to corner it, then sell the appreciated assets at huge profits later. The two had a coterie of other speculators working with them such as Isaac Whippo (1742-1807), Walter Livingston, Richard Platt, John Pintard, and George Knox. Together these men established credit by endorsing each other’s notes to continue borrowing or speculating. Duer was not a stranger to the dangers of this system, as he almost went bankrupt during the financial bubble of 1791 but survived due to a government bailout. In the first months of 1792, Duer and Mb began trading la