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South Sea Bubble 1720
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South Sea Bubble 1720
The South Sea Bubble. A satirical image showing a goat sitting atop the human wheel of fortune with a sign saying Who l I Ride just below. There is a winged devil with a scythe on the left, throwing chunks of Fortunes body to a greedy crowd and at the bottom, Trade lies dead. The monument on the right reads: This monument was erected in memory of the destruction of the city by the South Sea in 1720. This refers to the financial crisis in Britain in 1720 when the South Sea Company offered to take on over half the national debt in return for further concessions. Its 100 shares rapidly rose to 1000 before the bubble burst, leaving thousands ruined
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Media ID 575814
© Mary Evans Picture Library 2015 - https://copyrighthub.org/s0/hub1/creation/maryevans/MaryEvansPictureID/10013540
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EDITORS COMMENTS
"This satirical print, titled 'The South Sea Bubble' by an unknown artist, vividly depicts the financial chaos that gripped Britain in the year 1720. The image shows a goat, symbolizing Fortune, seated atop a human wheel, with the caption "Who l I Ride?" below. The goat's position signifies the unpredictable nature of Fortune, which can bestow riches upon some, while leaving others in ruin. To the left, a winged devil, symbolizing Greed, is shown throwing chunks of Fortune's body to a ravenous crowd, representing the speculators who had invested heavily in the South Sea Company's stock. The frenzy and desperation of the crowd are palpable, as they clamor for their share of the supposed wealth. At the bottom of the print, the lifeless figure of Trade lies sprawled out, symbolizing the devastating impact of the financial crisis on legitimate commerce. The monument to the right reads, "This monument was erected in memory of the destruction of the city by the South Sea in 1720." This refers to the South Sea Bubble, a financial bubble that occurred when the South Sea Company, which had been granted permission to take on over half of the national debt in exchange for further concessions, saw its stock rapidly rise from 100 to 1000. However, the bubble eventually burst, leaving thousands of investors bankrupt and financially ruined." The South Sea Bubble was a significant event in British history, highlighting the dangers of speculation and the potential consequences of unchecked greed. This powerful and evocative print serves as a reminder of the destructive forces that can be unleashed when financial markets are allowed to spiral out of control.
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