American Academy Lecture at HCA

Indebted Citizens and the Political Development of Private Debt Relief in America

Americans have a long history with debt. They also have a long history of mobilizing for debt relief. In this lecture, Chloe Thurston explores how indebted citizens organized in the nineteenth century to demand government protection from financial hardship, shaping early debt relief policies and federal bankruptcy law. Over time, these debtor movements declined as legal and political priorities shifted toward property rights and market discipline. By tracing how geography, industry, and race influenced these transformations, Thurston reveals how the politics of debt have shaped broader struggles over economic security and the role of the state in American life.