The New York Public Library is now offering grab-and-go service at 50 locations as part of our gradual reopening. Securing Southsea's future. Frantic bankers thronged the lobbies at Parliament and the Riot Act was read to restore order. There were 462 members of the House of Commons and 112 Peers in the South Sea Company who were involved in the crash. The Southsea Coastal Scheme is the UK's largest local authority-led coastal defences project, worth more than £100M. The South Sea Scheme. https://www.artsy.net/artwork/william-hogarth-the-south-sea-scheme South Sea Bubble, the speculation mania that ruined many British investors in 1720. In France, the unwinding of the Mississippi scheme led to the reinstatement of debt at its pre-1720 level (Velde, 2006). The South Sea Scheme: speculators ruined by the collapse of the South Sea Company. Before it Hogarth shows a carousel and scenes of gambling theft and torture. The South Sea Company Directors were arrested and their estates forfeited. 1).Hogarth's print offered a satirical commentary not only on the disastrously mismanaged eponymous scheme, intended to pay off the national debt, but the wider series of financial innovations of which this was a part. The South Sea conversion scheme significantly reduced this burden. (257 mm x 321 mm) paper size Reference Collection A satirical engraving imagining the downfall of London in the wake of the collapse of the South Sea Company in 1720. A man named John Blunt came to the fore during this crisis situation. The bubble, or hoax, centred on the fortunes of the South Sea Company, founded in 1711 to trade (mainly in slaves) with Spanish America, on the assumption that the War of the Spanish Succession, then drawing to a close, would end with a treaty permitting such trade.. https://artsandculture.google.com/asset/the-south-sea-scheme/IAF9lu0voxntbw In 1721, William Hogarth published the elaborate graphic satire The South Sea Scheme, depicting the baleful effects of ‘monys magick power’ on public finance (Fig. Inspired by Law's scheme, John Blunt, a shady character who was the dominant figure on the board of directors of the South Sea Company, obtained the right from the government to convert a large portion of the government debt into shares of the South Sea Company in return for the promise to pay the government £7.5 million. x 12 5/8 in. This could be done by creating a new company called the South Sea company. 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