What Caused the US Ambassador to Doubt Bird, Savage & Bird's Financial Stability?

💡 The Answer

• In 1802, Ambassador Rufus King instructed them to make a routine payment.
• The firm was reluctant to fully comply with the payment order.
• King expressed concern that their "affairs may not be altogether free of embarrassment".
• This hinted at financial troubles before the failure.
• His fears were realized in early 1803 when the firm collapsed.