Former Continental Congressman William Duer raised large sums of money to invest in bank stock and government securities, novel and financially sophisticated assets whose risks many contemporaries failed to understand.
William Alexander Duer (1780–1858), U.S. jurist, President of Columbia University, son of the Continental Congressman
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The Scioto Land Company was organized by Colonel William Duer and others in 1787 and officially organized in 1789 as the Compagnie du Scioto in Paris by Joel Barlow, the agent of Duer and his associates abroad (William Playfair, an Englishman, plus six Frenchmen).