The South sea bubble

  • 265 Pages
  • 0.55 MB
  • English
D. O"Connor , London
South Sea Com
Statementby Lewis Melville [pseud.]
LC ClassificationsHF486 .S8 1921
The Physical Object
Paginationxix, 265 p.
ID Numbers
Open LibraryOL6636308M
LC Control Number21013426

Balen's account of the "South Sea Bubble" is an entertaining account rather than an exhaustive historical examination of the events surrounding the South Sea Companies rise and fall in the early 18th by: 2. The South Sea Bubble book. Read reviews from world’s largest community for readers. An authoritative account of this extraordinary 18th-century financial /5(15).

The South Sea Bubble was an ambitious scheme to simultaneously pay off the British government's enormous debts while simultaneously getting rich in London's newly created stock market.

In essence, holders of government debt exchanged valuable bonds and annuities for stock which ultimately became worthless. Carswell teases out the details which Cited by: South Sea Bubble, the speculation mania that ruined many British investors in The bubble, or hoax, centred on the fortunes of the South Sea Company, founded in to trade (mainly in slaves) with Spanish America, on the assumption The South sea bubble book the War of the Spanish Succession, then drawing to a close, would end with a treaty permitting such trade.

The company’s stock, with a. It is highly likely The South sea bubble book anyone reading Crown Phoenix Book 4: The South Sea Bubble will have already read the first three books in this excellent quartet. The books form two pairs with books one and two focusing on Simon, Neil and Maryam, with the latter two A quick declaration: I had the pleasure of drawing the maps for this series of books /5.

The book is an economic history of the South Sea Bubble. It combines economic theory and quantitative analysis with historical evidence in order to provide a rounded account. It brings together scholarship from a variety of different fields to Cited by: The South Sea Bubble was a speculative bubble in the early 18th century involving the shares of the South Sea Company, a British international trading company that was granted a monopoly in trade with Spain’s colonies in South America and the West Indies as part of a treaty made after the War of the Spanish Succession.

In the whole of England became involved with what has since become known as The South Sea Bubble. Inin return for a loan of £7 million to finance the war against France, the House of Lords passed the South Sea Bill, which allowed the South Sea Company a monopoly in trade with South America.

The South Sea bubble was merely the last and grossest of these, whereby the South Sea company was to "buy" - ie, take over from the government - the burden of the national debt, on the basis that. The South Sea Bubble was not an isolated bubble event in As the South Sea Bubble was developing, a general interest in joint-stock investment opportunities was also picking up pace.

By the middle ofsometimes known as the “Bubble Year,” the market was flooded with a remarkable range of new ventures, each creating smaller bubbles. The South Sea Bubble’s story started inafter a war with Spain left Britain 10 million pounds in debt.

The British government proposed a deal to a financial institution, the South Sea Company, in which Britain’s debt would be financed in return for 6% interest. An authoritative account of this extraordinary 18th-century financial, political, and royal scandal, this book describes the drama of the promotion, the insane fever of speculation, and the international impact of the final collapse.

The South Sea Bubble History/18th/19th Century History Series: Author: John Carswell: Edition: illustrated.

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THE SOUTH SEA BUBBLE by CARSWELL, JOHN and a great selection of related books, art and collectibles available now at This paper avoids a key question, namely the extent to which the South Sea Bubble was a bubble, meaning an episode in which the economic fundamentals guaranteed a collapse.

That topic, and the large associated literature, will be treated separately. The next section presents a reconstruction of Newton’s investments in the South Sea Size: KB. This chapter begins by connecting the South Sea Bubble with the British government's need to finance its wars.

It explored the use of a debt-equity swap to lower its interest cost. The bubble resulted from a good idea badly designed and administered. Hoare's Bank made a healthy profit from buying and selling stock in the South Sea Company in Additional Physical Format: Online version: Carswell, John.

South Sea bubble.

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Stanford, Calif., Stanford University Press, (OCoLC) Document Type. > A caricature of the day on the South Sea Company, The Whigs under King William had created the great financial corporation of the Bank of England.

Furthermore, while land was taxed, profits from these new securities were not. This inevitably led to abuse. In this short-form book, New York Times bestselling author Robert Wernick traces the remarkable history of the South Sea Bubble, one of the greatest financial scandals of all time/5(6).

Additional Physical Format: Online version: Reading, Gerald Rufus Isaacs, Marquess of, South Sea Bubble. Westport, Conn.: Greenwood Press, The South Sea bubble, nevertheless, unfolded quickly after Parliament approved it in February and the sheer momentum of the crowd’s frenzy kept it going well into July On the timing of the bubble, Dale takes sharp issue with previous analysts of the bubble who claimed that the peak occurred just before the Company closed its books.

The South Sea Bubble is one of the largest asset bubbles that the world has ever seen. In fact, this bubble bankrupted the newly prosperous British economy during the 17th Century. At one point in time, all the money is Britain was not enough to pay down the debts that accrued as a result of the South Sea Bubble.

As Helen Paul argues in the introduction to this book, the South Sea Bubble has become a byword for human folly. Despite the passing of nearly three hundred years, it is still cited by journalists seeking examples to prove the ubiquity of irrationality and fraud in financial markets.

The bubble, however, was not limited to South Sea Company shares. At one point, the South Sea Company’s directors got very nervous that alternative schemes were mopping up liquidity that could be poured into their own subscription shares (these allowed small investors to pay on instalment or sell the security on to someone else).

The 25 June dividend on South Sea stock was replaced by a 10% stock dividend, which meant that a holder of South Sea Stock had his or her holdings automatically increased to 67 Next, in Septemberas part of the mop-up after the Bubble, investors received another 1/3 stock dividend, so a holding of South Sea stock was Author: Andrew Odlyzko.

South Sea Bubble, popular name in England for the speculation in the South Sea Company, which failed disastrously in The company was formed in by Robert Harley Harley, Robert, 1st earl of Oxford, –, English statesman and bibliophile. The South Sea Bubble is one of the oldest asset bubbles out there and the first ever documented market manipulation example.

At first it seemed that the newly formed South Sea Company might put an.

Description The South sea bubble FB2

The South Sea Bubble got its name from the South Sea Company that generated so much enthusiasm in the early s. But the company is only part of the story. The bubble really inflated because of hundreds of smaller issues being created around the same time.

For particulars of this famous scheme for reducing the National Debt, projected by Sir John Blunt, who became one of the Directors of it, and ultimately one of the greatest sufferers by it, when the Bubble burst, see Smollett's "History of England," vol.

ii; Pope's "Moral Essays," Epist. iii, and notes; and Gibbon's "Memoirs," for the violent and arbitrary proceedings against the Directors.

The first global financial bubble occurred in in Paris, London and the Netherlands. William Goetzmann, Geert Rouwenhorst, and Rik Frehen have collected stock prices for a large number of the traded companies in Get print book.

No eBook available. AbeBooks; Read, highlight, and take notes, across web, tablet, and phone. Go to Google Play Now» The South Sea Bubble. John Carswell. Cresset Press, - Finance - pages. 0 Reviews. From inside the book. What people are saying -. Directed by T. Hayes Hunter.

With Ivor Novello, Benita Hume, Annette Benson, S.J. Warmington. A strange collection of "adventurers" set out 2/South Sea Bubble definition: the financial crash that occurred in after the South Sea Company had taken over the | Meaning, pronunciation, translations and examples.The South Sea Bubble was a share schemeallowed to run crazily out of control.

It was masterminded by an unscrupulous Englishman who saw a route to untold riches selling shares in a valueless company. The South Sea Company was supposed to establish a lucrative trade in silver and spices between England and the Americas.