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South Sea Bubble
(redirected from The South Sea Company)

   Also found in: Encyclopedia, Wikipedia 0.01 sec.
South Sea Bubble
n
(Historical Terms) Brit history the financial crash that occurred in 1720 after the South Sea Company had taken over the national debt in return for a monopoly of trade with the South Seas, causing feverish speculation in their stocks
[so named because the rapid expansion and sudden collapse of investment resembled the blowing up and bursting of a bubble]


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The collapse of the South Sea Company in 1720 ruined early Georgian England.
The paintings were thought to have been brought to Britain in 1724 by Sir William Chapman, a director of the South Sea Company, and were bought by Bishop Richard Trevor in 1756 for pounds 124.
When it commissioned its first building from George Sampson in 1733, it had already seen off competition from organisations like the South Sea Company as a manager of public debt, and proved its ability to finance Britain's wars more efficiently than other countries.
 
 
 
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