South Sea bubble
The Oxford Companion to British History
|
2002
|
|
© The Oxford Companion to British History 2002, originally published by Oxford University Press 2002. (Hide copyright information)
Copyright
South Sea bubble. The 1720 financial crisis resulting from the collapse of the South Sea Company. Founded by
Harley in 1711 as a Tory alternative to the Whig financial establishment, the company in 1719 proposed (and in 1720 the ministry accepted) to take over three-fifths of the national debt (about £30 million). In return for trading privileges and accepting 5 per cent interest until 1727 and thereafter 4 per cent, the company was to pay £7 million immediately. A fever of speculation followed and its shares rose from 130 per cent to over 1,000 per cent in six months. Other companies climbed on the bandwagon, and in an effort to drive its rivals to the wall, the company spread alarm. Panic selling ensued and the market collapsed, ruining thousands of investors.
Walpole produced a plan (which helped to secure his supremacy in the ministry) to stem the disaster by transferring a proportion of the stock to the
Bank of England and the
East India Company. Subsequent parliamentary investigations, prompted by a public outcry, revealed corruption on a wide scale, which implicated some ministers and George I himself.
Clyve Jones
Cite this article
Pick a style below, and copy the text for your bibliography.
|
The First Crash: Lessons from the South Sea Bubble
Magazine article from: Business History Review; 7/1/2005; ; 700+ words
; ...Lessons from the South Sea Bubble. By...11971-6. The South Sea Bubble of 1720 was...all financial bubbles and probably...for rational bubbles, adopting...of time as a bubble inflates will...indicate that the South Sea Bubble was...
|
|
The South Sea Bubble - George i's Enron. (Reviews).(A Very English Deceit: The Secret History of the South Sea Bubble and the First Great Financial Scandal)(Book Review)
Magazine article from: Contemporary Review; 7/1/2003; ; 700+ words
; ...Deceit: The Secret History of the South Sea Bubble and the First Great Financial Scandal...ISBN 1-84115-552-7. The South Sea Company, originally a trading...English cloth for Spanish gold in South America, gave itself the lyrical...
|
 "The Daily Mail (London, England)")
|
Floating in a South Sea bubble; Floral tribute: Polynesian headwear.
Newspaper article from: The Daily Mail (London, England); 3/15/2008; 700+ words
; ...times when I know I drifted.Learning about the South Sea Bubble, which I seem to remember was a boringspeculative...Because for one glorious week, I lived inside a South Seas bubble that wasiridescent and sunshine-filled. I was...
|
|
The South Sea Bubble. (Books).('The Secret History of the South Sea Bubble: The World's Greatest Financial Scandal')(Book Review)
Magazine article from: Accounting Today; 5/19/2003; 535 words
; ...to what happened to England's South Sea Company in the 1700s. Author Malcolm...book, "The Secret History of the South Sea Bubble: The World's Greatest Financial Scandal." The South Sea Company was essentially a sharedealing...
|
|
The Secret History of the South Sea Bubble. (History Lessons).(The Secret History of the South Sea Bubble: The World's First Great Financial Scandal)(Book Review)
Magazine article from: CMA Management; 6/1/2003; 607 words
; ...collapse of Enron or Worldcom. The Secret History of the South Sea Bubble: The world's first great financial scandal explains...overturn two monarchies and bring down parliament. The South Sea Company was a share-dealing scam masterminded by an...
|
|
North Sea bubble.(Marketview)
Newspaper article from: Petroleum Intelligence Weekly; 3/21/2007; 700+ words
; ...A tight June North Sea loading program and increasing...topped out and will turn south as refiners return from...upside, the physical North Sea market would appear to...doubts. Tight June North Sea schedules--with production...Predicting how long this bubble will last is even more...
|
|
Business Comment: Look out for the South China Sea Bubble
Newspaper article from: The Independent - London; 5/29/1997; 549 words
; Stand by for the South China Sea Bubble. The impending handover of Hong Kong to the Chinese has sent...parallels with the company that gave its name to the original South Sea Bubble are interesting. That too was floated on a tidal wave...
|
|
South Sea bubble.com limps into internet age
Newspaper article from: Scotland on Sunday; 12/24/2000; ; 700+ words
; ...revolution are now spinning tales of an internet bubble to rival the great South Sea fiasco. It is a story of human frailty which affronts...harder for technology companies and the signs that a bubble could be bursting for good became all too apparent...
|
|
|
LETTER:Remember the South Sea Bubble
Newspaper article from: The Independent - London; 6/6/1995; ; 585 words
; ...adults in a complex and potentially dangerous world. I look forward to Gillian Shephard including the lessons of the South Sea Bubble in the National Curriculum. Yours sincerely CHRIS ADAMS Birkenhead, Merseyside 2 June
|
|
|
Echoes of South Sea bubble in Indian float ; OUTLOOK
Newspaper article from: The Independent - London; 3/20/2007; ; 292 words
; ...up their sleeves, but whenever a project like this is proposed it puts me in mind of the defining flotation of the South Sea bubble, which was for "carrying on an undertaking of great advantage, but nobody to know what it is". In that case...
|
|
South Sea Bubble
Encyclopedia entry from: International Encyclopedia of the Social Sciences
...Bubble The South Sea Bubble was one of the first famous financial bubbles of modern times. The shares of the South Sea Company rose rapidly...and borrowing, and a bubble was the result. The...x2013; 1729), the South Sea Company (which never traded in the ...
|
|
South Sea bubble
Book article from: A Dictionary of British History
South Sea bubble The 1720 financial crisis resulting from the collapse of the South Sea Company. Founded by Harley in 1711 as a Tory alternative to the Whig...
|
|
|
Bubbles
Encyclopedia entry from: International Encyclopedia of the Social Sciences
...as housing. The bubble “ bursts...famous speculative bubbles in history is Dutch...The Mississippi Bubble (1719 – 1720) and the South Sea Bubble (1720) involved...trade drove these bubbles. When people lost...
|
|
|
Internet Bubble
Encyclopedia entry from: International Encyclopedia of the Social Sciences
Internet Bubble A bubble is an unsustainable increase...fundamental characteristics. Bubbles are a concern of social...escalation for which the term bubble was widely used, Jonathan Swift linked the British South Sea Bubble to the “...
|
|
bubble
Book article from: A Dictionary of Business and Management
bubble A situation in which asset prices are seriously...The most infamous example of this was the South Sea Bubble of 1720, which led to the collapse of...was the so-called ‘dot.com bubble’ of 1999–2000.
|
