By mid August the bankruptcy listings in the London Gazette reach an all-time high, an indication of how people bought on credit or margin. Thousands of fortunes are lost, both large and small. The directors attempt to pump-up more speculation. The full collapse comes by the end of September when the stock stands at 135 pounds. The last part of the story may be told quickly.
Investors scream foul against the South Sea directors.
Parliament is recalled and George I hastens back to London. Mobs crowd into Westminster. Unfortunately, some of the key players have already fled the country with the incriminating records in their possession. Those who remain are examined and some estates are confiscated. Robert Walpole then rises to power with some reasonable proposals to restore public confidence.