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This chapter follows Bowditch’s professional activities and personal life between 1815 and 1823, an era in which Salem entered a period of decline. Along with townsman Joseph Story, Bowditch emerged as a leading figure in establishing the legal foundations and working practices of trusts, an institution that served the individual and class interests of American social elites. He managed the fall-out of a local bank scandal, an inside-job theft that exposed the lax business practices of elite corporations and called into question the trustworthiness of the “gentlemen” who ran them. He encountered another gentleman scoundrel in the new publisher of his Navigator, even as he coped with family difficulties and tragedy. Meanwhile, Bowditch’s involvement in Boston’s elite intellectual, political, social, and business circles intensified, until in 1823 he moved to Boston to run a financial corporation.
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