History/18th/19th Century History
1 total work
The South Sea Bubble of 1720-1 was the first and most celebrated of all the great financial scandals. But the failure of the South Sea Company, which had undertaken to take over the National Debt, was to cause more than a catastrophic financial crisis, shattering a confident government. It invaded every aspect of British life. Its enormous international and psychological ramifications, the frenzy of speculation of the South Sea Bubble and its final crash, allow us to see every segment of society in common pursuit of wealth. The extent of insider dealing and ministerial corruption was staggering, even for a time when profiting from patronage and privileged information was normal. John Carswell's classic account of the rise and fall of fortunes based on unsecured credit brings home the dangers and delights of all easy money schemes and paints a vivid picture of London's eventual rise to pre-eminence in the financial world. Previous Hardback ISBN 0862999189