The South Sea Company was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly to supply African slaves to the islands in the "South Seas" and South America. When the company was created, Britain was involved in the War of the Spanish Succession and Spain and Portugal controlled most of South America. There was thus no realistic prospect that trade would take place, and as it turned out, the Company never realised any significant profit from its monopoly.
In a period known as the South Sea Bubble, the South Sea Company reaches a frenzy in London as the stock price of the So
In a period known as the South Sea Bubble, the South Sea Company reaches a frenzy in London as the stock price of the South Sea Company peaks at £1,000, collapses soon after, and falls to £124 by December
Historical Significance
The South Sea Company was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt.
Events Before
Britain, Hannover, Saxony-Poland and Austria sign anti-Prussian Russian pact
Britain, Hannover, Saxony-Poland and Austria sign anti-Prussian Russian pact
Liechtenstein becomes a member state of the Holy Roman Empire
Liechtenstein, officially the Principality of Liechtenstein, is a doubly landlocked country in the Central European Alps.
The Onderlinge van 1719 u.a., the oldest existing life insurance company in the Netherlands is founded
The Onderlinge van 1719 u.a., the oldest existing life insurance company in the Netherlands is founded
Jacobite Rising: Battle of Glen Shiel - Jacobite army defeated by British forces
The Battle of Glen Shiel took place on 10 June 1719 in the Scottish Highlands, during the Jacobite rising of 1719.
Sweden & Hannover sign for peace Treaty of Stockholm
Sweden & Hannover sign for peace Treaty of Stockholm
Events After
Johann Sebastian Bach dedicates his Brandenburg Concertos to Christian Ludwig, Margrave of Brandenburg-Schwedt
Johann Sebastian Bach dedicates his Brandenburg Concertos to Christian Ludwig, Margrave of Brandenburg-Schwedt
Tsar Peter the Great titles himself "Emperor of All Russia"
The emperor and autocrat of all Russia was the official title of the Russian monarch from 1721 to 1917. The title originated in connection with Russia's victory in the Great Northern War (1700–1721)...
British Chancellor Exchequer John Aislabie confined in London Tower
British Chancellor Exchequer John Aislabie confined in London Tower
France and Spain sign the Treaty of Madrid
The War of the Spanish Succession was a European great power conflict, fought between 1701 and 1714.
HMS Seahorse, infected with smallpox, arrives in Boston Harbor, causing the first outbreak in two decades; half of the p
HMS Seahorse, infected with smallpox, arrives in Boston Harbor, causing the first outbreak in two decades; half of the population contracts it, resulting in 850 deaths [1]
More from the 1720s
birth
James Wolfe is born
James Wolfe army officer, known for british army officer, was born on 1727-01-02. Major-General James Wolfe (2 January 1727 – 13 September 1759) was a British Army officer known for his training…
Spanish King Philip V abdicates the throne in favor of his 17-year-old son Louis I; he returns to rule in September afte
Spanish King Philip V abdicates the throne in favor of his 17-year-old son Louis I; he returns to rule in September after Louis dies of smallpox
Edmond Halley is appointed as the second Astronomer Royal at the Greenwich Observatory
Edmond (or Edmund) Halley (8 November [O.S. 29 October] 1656 – 25 January 1742 [O.S. 14 January 1741]) was an English astronomer, mathematician and physicist.
Johann Sebastian Bach dedicates his Brandenburg Concertos to Christian Ludwig, Margrave of Brandenburg-Schwedt
Johann Sebastian Bach dedicates his Brandenburg Concertos to Christian Ludwig, Margrave of Brandenburg-Schwedt
Frequently Asked Questions
- What happened on August 1, 1720?
- The South Sea Company was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly to supply African slaves to the islands in the "South Seas" and South America. When the company was created, Britain was involved in the War of the Spanish Succession and Spain and Portugal controlled most of South America.
- Why is In a period known as the South Sea Bubble, the South Sea Company reaches a fr... significant?
- The South Sea Company was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt.