Thegreatprincipleoftheprojectwasaneviloffirst-ratemagnitude；itwastoraiseartificiallythevalueofthestock，byexcitingandkeepingupageneralinfatuation，andbypromisingdividendsoutoffundswhichcouldneverbeadequatetothepurpose。

　　Inapropheticspiritheadded，thatiftheplansucceeded，thedirectorswouldbecomemastersofthegovernment，formanewandabsolutearistocracyinthekingdom，andcontroltheresolutionsofthelegislature。Ifitfailed，whichhewasconvinceditwould，theresultwouldbringgeneraldiscontentandruinuponthecountry。Suchwouldbethedelusion，thatwhentheevildaycame，ascomeitwould，thepeoplewouldstartup，asfromadream，andaskthemselvesifthesethingscouldhavebeentrue。Allhiseloquencewasinvain。Hewaslookeduponasafalseprophet，orcomparedtothehoarseraven，croakingomensofevil。Hisfriends，however，comparedhimtoCassandra，predictingevilswhichwouldonlybebelievedwhentheycamehometomen’shearths，andstaredtheminthefaceattheirownboards。Although，informertimes，theHousehadlistenedwiththeutmostattentiontoeverywordthatfellfromhislips，thebenchesbecamedesertedwhenitwasknownthathewouldspeakontheSouthSeaquestion。

　　ThebillwastwomonthsinitsprogressthroughtheHouseofCommons。Duringthistimeeveryexertionwasmadebythedirectorsandtheirfriends，andmoreespeciallybytheChairman，thenotedSirJohnBlunt，toraisethepriceofthestock。Themostextravagantrumourswereincirculation。TreatiesbetweenEnglandandSpainwerespokenof，wherebythelatterwastograntafreetradetoallhercolonies；

　　andtherichproduceoftheminesofPotosi-la-PazwastobebroughttoEnglanduntilsilvershouldbecomealmostasplentifulasiron。Forcottonandwoollengoods，withwhichwecouldsupplytheminabundance，thedwellersinMexicoweretoemptytheirgoldenmines。

　　ThecompanyofmerchantstradingtotheSouthSeaswouldbetherichesttheworldeversaw，andeveryhundredpoundsinvestedinitwouldproducehundredsperannumtothestockholder。Atlastthestockwasraisedbythesemeanstonearfourhundred；but，afterfluctuatingagooddeal，settledatthreehundredandthirty，atwhichpriceitremainedwhenthebillpassedtheCommonsbyamajorityof172against55。

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