The South sea bubble, and the numerous fraudulent projects to which it gave rise in 1720, historically detailed as a beacon to the unwary against modern schemes


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Seite 17 - In the mean time he declared that every person paying two guineas should be entitled to a subscription for one hundred pounds, which would produce that sum yearly. In one forenoon this adventurer received a thousand of these subscriptions ; and in the evening set out for another kingdom.
Seite 113 - Change in coaches, To fool away the gold they gain By their obscene debauches. Long heads may thrive by sober rules, Because they think and drink not, But headlongs are our thriving fools, Who only drink and think not. The lucky rogues, like spaniel dogs, Leap into South-Sea water, And there they fish for golden frogs, Not caring what comes a'ter.
Seite 23 - Commons, that they had already discovered a train of the deepest villainy and fraud that hell ever contrived to ruin a nation...
Seite 14 - ... of any consequence. It was buoyed up by nothing but the folly and rapaciousness of individuals, which became so blind and extravagant, that Blunt, with moderate talents, was able to impose upon the whole nation, and make tools of the other directors, to serve his own purposes, and those of a few associates. When this projector found that the South Sea stock did not rise according to his expectation upon the...
Seite 6 - South-Sea stock, and once supposed himself to be master of twenty thousand pounds. His friends persuaded him to sell his share; but he dreamed of dignity and splendour, and could not bear to obstruct his own fortune. He was then importuned to sell as much as would purchase a hundred a year for life; " which," says Fenton, " will make you sure of a clean shirt and a shoulder of mutton every day.
Seite 5 - I am tired with politics, and lost in the South Sea. The roaring of the waves, and the madness of the people, were justly put together. I can send you no sort of news, that holds either connection or sense. It is all wilder than St. Anthony's dream ; and the bagatelle is more solid than anything that has been endeavoured here this year.
Seite 113 - Here stars and garters do appear, Among our lords the rabble, To buy and sell, to see and hear, The Jews and gentiles squabble.
Seite 11 - Company ; for, should the stocks be kept at the advanced price to which they had been raised by the oblique arts of stock-jobbing, either that company or its principal members would gain above thirty millions, of...
Seite 19 - Contract. Books were opened at the bank, to take in a subscription for the support of public credit; and considerable sums of money were brought in. By this expedient the stock was raised at first ; and those who contrived it seized the opportunity to realize.
Seite 15 - This rumour, diffused by his emissaries, acted like a contagion. In five days, the directors opened their books for a subscription of one million, at the rate of three hundred pounds for every hundred pounds capital.

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