Georgia’s creator, James Oglethorpe, an eighteenth-century social reformer, envisioned the colony being a financial utopia—a haven for all locked in Britain’s debtors’ prisons. Oglethorpe petitioned King George II allowing the united states’s worthy bad a 2nd opportunity in an overseas settlement, after which instituted regulations that sought to erase course distinctions while prohibiting liquor and slavery. The experiment lasted not as much as 2 decades, cut quick by Spanish hostilities and opposition from residents whom wished to possess slaves and beverage rum.
Even though Georgia don’t end up being the debtors’ haven that Oglethorpe envisioned, the colony did not totally abandon its principles that are early. In 1759, it established limits that are strict usury. But in a short time loan providers started challenging and evading laws that are such. Continue reading