Companies involved in the "transmutation of quicksilver" and providing insurance against theft by servants were among the eighty-six concerns whose charters were revoked during the reform sparked by this disaster.
Companies involved in the "transmutation of quicksilver" and providing insurance against theft by servants were among the eighty-six concerns whose charters were revoked during the reform sparked by this disaster. Its origins lie in the attempts of Robert Harley to establish a financial institution to compete with the Bank of England. Harley secured a monopoly on trade in return for assuming a portion of the debt England had after the War of Spanish Succession. In 1719, directors began trying to inflate stock prices as more and more investors paid in, but steady deflation led to a panic that caused the stock to tank completely. For 10 points, the failure to establish trading colonies in the Pacific led to what financial scandal?
Companies involved in the "transmutation of quicksilver" and providing insurance against theft by servants were among the eighty-six concerns whose charters were revoked during the reform sparked by this disaster.
{South Sea Bubble} [accept {South Sea Company}]