The Townsend Journal: A Glimpse into Accounting for the Maritime Trade in 1840s Boston

• In Event: Accounting History & Forensics

Abstract

The Townsend Journal is a rare and exciting find, which not only captures the nineteenth century maritime trade in Boston, but also provides a fine, early illustration of accountancy in the United States. The journal chronicles the joint business venture of Samuel Ripley Townsend and Frederick William Crocker that ran from August 1840 to December 1841. An examination of a contemporaneous accounting textbook by Benjamin Franklin Foster provides the key to understanding the bookkeeping method used to record the journal entries. The Townsend Journal contains a wealth of information on the nineteenth century business and accounting practices for an important industry in our nation’s development.

Authors

• brandi holley, The University of Mississippi

• Dale L Flesher, The University of Mississippi