View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Trinity College Trinity College Trinity College Digital Repository Senior Theses and Projects Student Works Spring 2018 “The alF lacy of Estimates”: Bulfinch, Boston, and Debtors’ Prison Chris Bulfinch Trinity College, Hartford Connecticut,
[email protected] Follow this and additional works at: https://digitalrepository.trincoll.edu/theses Recommended Citation Bulfinch, hrC is, "“The alF lacy of Estimates”: Bulfinch, Boston, and Debtors’ Prison". Senior Theses, Trinity College, Hartford, CT 2018. Trinity College Digital Repository, https://digitalrepository.trincoll.edu/theses/688 “The Fallacy of Estimates”: Bulfinch, Boston, and Debtors’ Prison Chris Bulfinch History Senior Thesis Advisor: Scott Gac Spring, 2018 1 Table of Contents Introduction: 3 Chapter I: 12 Chapter II: 32 Chapter III: 60 Chapter IV: 82 Conclusion: 104 Appendix: 109 Acknowledgements: 118 Bibliography: 119 2 Introduction Boston’s Board of Selectmen was missing its Chairman when it met in August of 1811. Charles Bulfinch, who had been narrowly elected to the Board previous year, had been incarcerated in Boston’s town jail as the result of a lawsuit brought by a shopkeeper over a debt of a little of $400. He had borrowed money and leveraged his assets far beyond his means, and while none of his most largest creditors had brought lawsuits, his precarious financial situation made ultimate failure almost an inevitability. Bulfinch was invested in a number of real estate development schemes that were transforming the topography of Boston in the wake of the Revolutionary War. Debtors’ prisons and almshouses in cities and towns across the country were filling up as riskier and risker financial schemes built on land investments were tying Americans into ever-widening circles of debt.