Alexander Fordyce

Alexander Fordyce (7 August 1729 – 8 September 1789) was an eminent Scottish banker, centrally involved in the bank run on Neale, James, Fordyce and Down which led to the credit crisis of 1772. He fled abroad and was declared bankrupt, but in time he used the profits from other investments to cover the losses. Early life Alexander was baptized in Belhelvie as the youngest son of George Fordyce of Broadford (1663–Eggie, 1733), six times Provost of Aberdeen who was married twice, had many children but only a few survived. He was (half)-brother to David, Agnes, James, and William Fordyce. In 1746 he travelled in the Scottish Highlands. He was educated by his uncle Thomas Blackwell, principle and lecturing common law at Marischal College and who became his brother-in-law in 1751. For some time he was in the hosiery trade at Aberdeen. In 1757, he left and found a situation as outdoor clerk to a banker named Boldero & Co at Lombard Street, London. In 1759 his brother James arrived in London and became minister of the presbyterian congregation. In 1768 he stood as a radical candidate for the borough of Colchester at the general election, but four people announced their endorsement in a newspaper. The esquire spent nearly £14,000; but was defeated by 43 votes by Charles Gray. The interloper had spent money to build a chapel, a hospital and otherwise cultivate the borough. In June 1770, at the age of 42, he married Lady Margaret Lindsay, a 17-years-old daughter of James Lindsay at Balcarres House (Fife). He was appointed rector of the Marischal College, Aberdeen in the same year. Then Fordyce's gold watch was stolen somewhere on the highway; the robbers were executed early 1771. Banker and speculator