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The Epic Interactive Encyclopedia 1998
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Epic Interactive Encyclopedia, The - 1998 Edition (1998)(Epic Marketing).iso
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South_Sea_Bubble
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1992-09-02
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The South Sea Bubble Was a financial crisis
in Britain in 1720. The South Sea Company,
founded in 1711, which had a monopoly of
trade with South America, offered in 1719 to
take over more than half the national debt in
return for further concessions. Its 100
shares rapidly rose to 1,000, and an orgy of
speculation followed. When the `bubble'
burst, thousands were ruined.
Subject by: Vince Pike