George I Act for South Sea Company--Very Rare
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George I of England King
George I Act for South Sea Company--Very Rare
A printed pamphlet containing a prospectus of the South Sea Company, entitled "An Act for Enlarging the Capital Stock and Yearly Fund of the South-Sea Company, and for Supplying thereby Eight hundred twenty two thousand thirty two Pounds, Four Shillings and Eight Pence, to Publick Uses; And for Raising One hundred sixty nine thousand Pounds for the like Uses, by Sale of Annuities upon divers Encouragements therein mentioned; And for Appropriating several Supplies Granted to His Majesty." (London: John Baskett, printer, 1715), pp. 395-412. Overall age-toning, and scattered foxing. The binding is a little fragile towards the bottoms of the last pages. 7.25" x 11.25". Accompanied by a print of George I after Sir Godfrey Kneller.
The South Sea Company was founded in 1711 to trade with Spanish America. Although the company described itself rather grandly in contemporary documents as the Company of Merchants of Great Britain Trading to the South Seas, and other Parts of America, and for Encouraging Fishery, its main business was slave-trading. The company's stock, with a guaranteed interest of 6%, sold well initially. In 1713, the Treaty of Utrecht signed between Great Britain and Spain proved detrimental to the company's interest since it imposed an annual tax on imported slaves. Yet confidence was restored when George I took the throne in 1714, and acquired large holdings in the company.
In 1718, King George I became governor of the company, thereby giving investors even more confidence in the company, and encouraging speculation of shares now paying 100% interest. The peak came in early 1720, partly as a result of the company's proposal to take over the national debt. After a decrease in stock price in April, the company rallied and speculation again became rampant. Stock prices soared in July 1720. Unhappily, by September 1720, the market had collapsed, and shares dragged down government stocks with them.
This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.
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George I Act for South Sea Company--Very Rare
A printed pamphlet containing a prospectus of the South Sea Company, entitled "An Act for Enlarging the Capital Stock and Yearly Fund of the South-Sea Company, and for Supplying thereby Eight hundred twenty two thousand thirty two Pounds, Four Shillings and Eight Pence, to Publick Uses; And for Raising One hundred sixty nine thousand Pounds for the like Uses, by Sale of Annuities upon divers Encouragements therein mentioned; And for Appropriating several Supplies Granted to His Majesty." (London: John Baskett, printer, 1715), pp. 395-412. Overall age-toning, and scattered foxing. The binding is a little fragile towards the bottoms of the last pages. 7.25" x 11.25". Accompanied by a print of George I after Sir Godfrey Kneller.
The South Sea Company was founded in 1711 to trade with Spanish America. Although the company described itself rather grandly in contemporary documents as the Company of Merchants of Great Britain Trading to the South Seas, and other Parts of America, and for Encouraging Fishery, its main business was slave-trading. The company's stock, with a guaranteed interest of 6%, sold well initially. In 1713, the Treaty of Utrecht signed between Great Britain and Spain proved detrimental to the company's interest since it imposed an annual tax on imported slaves. Yet confidence was restored when George I took the throne in 1714, and acquired large holdings in the company.
In 1718, King George I became governor of the company, thereby giving investors even more confidence in the company, and encouraging speculation of shares now paying 100% interest. The peak came in early 1720, partly as a result of the company's proposal to take over the national debt. After a decrease in stock price in April, the company rallied and speculation again became rampant. Stock prices soared in July 1720. Unhappily, by September 1720, the market had collapsed, and shares dragged down government stocks with them.
This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.
WE PROVIDE IN-HOUSE SHIPPING WORLDWIDE!
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George I Act for South Sea Company--Very Rare
Estimate $400 - $500
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