第12章
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  FormakingManchesterstuffsofthreadandcotton。

  FormakingJoppaandCastilesoap。

  Forimprovingthewrought-ironandsteelmanufacturesofthiskingdom。Capital,fourmillions。

  Fordealinginlace,Hollands,cambrics,lawns,&c。Capital,twomillions。

  Fortradinginandimprovingcertaincommoditiesoftheproduceofthiskingdom,&c。Capital,threemillions。

  ForsupplyingtheLondonmarketswithcattle。

  Formakinglooking-glasses,coachglasses,&c。Capital,twomillions。

  ForworkingthetinandleadminesinCornwallandDerbyshire。

  Formakingrape-oil。

  Forimportingbeaverfur。Capital,twomillions。

  Formakingpasteboardandpacking-paper。

  Forimportingofoilsandothermaterialsusedinthewoollenmanufacture。

  Forimprovingandincreasingthesilkmanufactures。

  Forlendingmoneyonstock,annuities,tallies,&c。

  Forpayingpensionstowidowsandothers,atasmalldiscount。

  Capital,twomillions。

  Forimprovingmaltliquors。Capital,fourmillions。

  ForagrandAmericanfishery。

  ForpurchasingandimprovingthefennylandsinLincolnshire。

  Capital,twomillions。

  ForimprovingthepapermanufactureofGreatBritain。

  TheBottomryCompany。

  Fordryingmaltbyhotair。

  ForcarryingonatradeintheriverOronooko。

  Forthemoreeffectualmakingofbaize,inColchesterandotherpartsofGreatBritain。

  Forbuyingofnavalstores,supplyingthevictualling,andpayingthewagesoftheworkmen。

  Foremployingpoorartificers,andfurnishingmerchantsandotherswithwatches。

  Forimprovementoftillageandthebreedofcattle。

  Anotherfortheimprovementofourbreedofhorses。

  Anotherforahorse-insurance。

  ForcarryingonthecorntradeofGreatBritain。

  Forinsuringtoallmastersandmistressesthelossestheymaysustainbyservants。Capital,threemillions。

  Forerectinghousesorhospitals,fortakinginandmaintainingillegitimatechildren。Capital,twomillions。

  Forbleachingcoarsesugars,withouttheuseoffireorlossofsubstance。

  ForbuildingturnpikesandwharfsinGreatBritain。

  Forinsuringfromtheftsandrobberies。

  Forextractingsilverfromlead。

  FormakingChinaandDelftware。Capital,onemillion。

  Forimportingtobacco,andexportingitagaintoSwedenandthenorthofEurope。Capital,fourmillions。

  Formakingironwithpitcoal。

  ForfurnishingthecitiesofLondonandWestminsterwithhayandstraw。Capital,threemillions。

  ForasailandpackingclothmanufactoryinIreland。

  Fortakingupballast。

  Forbuyingandfittingoutshipstosuppresspirates。

  FortheimportationoftimberfromWales。Capital,twomillions。

  Forrock-salt。

  Forthetransmutationofquicksilverintoamalleablefinemetal。

  Besidesthesebubbles,manyotherssprangupdaily,inspiteofthecondemnationoftheGovernmentandtheridiculeofthestillsaneportionofthepublic。Theprint-shopsteemedwithcaricatures,andthenewspaperswithepigramsandsatires,upontheprevalentfolly。Aningeniouscard-makerpublishedapackofSouthSeaplaying-cards,whicharenowextremelyrare,eachcardcontaining,besidestheusualfigures,ofaverysmallsize,inonecorner,acaricatureofabubblecompany,withappropriateversesunderneath。Oneofthemostfamousbubbleswas“Puckle’sMachineCompany,“fordischargingroundandsquarecannon-ballsandbullets,andmakingatotalrevolutionintheartofwar。Itspretensionstopublicfavourwerethussummedup,ontheeightofspades:——

  ArareinventiontodestroythecrowdOffoolsathome,insteadoffoolsabroad。

  Fearnot,myfriends,thisterriblemachine,They’reonlywoundedwhohavesharestherein。

  ThenineofheartswasacaricatureoftheEnglishCopperandBrassCompany,withthefollowingepigram:——

  TheheadlongfoolthatwantstobeaswopperOfgoldandsilvercoinforEnglishcopper,May,inChangeAlley,provehimselfanass,Andgiverichmetalforadulteratebrass。

  TheeightofdiamondscelebratedtheCompanyfortheColonizationofAcadia,withthisdoggrel:——

  HethatisrichandwantstofoolawayAgoodroundsuminNorthAmerica,Lethimsubscribehimselfaheadlongsharer,Andasses’earsshallhonourhimorbearer。

  Andinasimilarstyleeverycardofthepackexposedsomeknavishscheme,andridiculedthepersonswhowereitsdupes。Itwascomputedthatthetotalamountofthesumsproposedforcarryingontheseprojectswasupwardsofthreehundredmillionssterling,asumsoimmensethatitexceededthevalueofallthelandsinEnglandattwentyyears’purchase。

  Itistime,however,toreturntothegreatSouthSeagulf,thatswallowedthefortunesofsomanythousandsoftheavariciousandthecredulous。Onthe29thofMay,thestockhadrisenashighasfivehundred,andabouttwo-thirdsofthegovernmentannuitantshadexchangedthesecuritiesofthestateforthoseoftheSouthSeaCompany。DuringthewholeofthemonthofMaythestockcontinuedtorise,andonthe28thitwasquotedatfivehundredandfifty。Infourdaysafterthisittookaprodigiousleap,risingsuddenlyfromfivehundredandfiftytoeighthundredandninety。Itwasnowthegeneralopinionthatthestockcouldrisenohigher,andmanypersonstookthatopportunityofsellingout,withaviewofrealisingtheirprofits。ManynoblemenandpersonsinthetrainoftheKing,andabouttoaccompanyhimtoHanover,werealsoanxioustosellout。Somanysellers,andsofewbuyers,appearedintheAlleyonthe3rdofJune,thatthestockfellatoncefromeighthundredandninetytosixhundredandforty。Thedirectorswerealarmed,andgavetheiragentsorderstobuy。Theireffortssucceeded。Towardseveningconfidencewasrestored,andthestockadvancedtosevenhundredandfifty。Itcontinuedatthisprice,withsomeslightfluctuation,untilthecompanyclosedtheirbooksonthe22ndofJune。

  Itwouldbeneedlessanduninterestingtodetailthevariousartsemployedbythedirectorstokeepupthepriceofstock。Itwillbesufficienttostatethatitfinallyrosetoonethousandpercent。ItwasquotedatthispriceinthecommencementofAugust。Thebubblewasthenfull-blown,andbegantoquiverandshake,preparatorytoitsbursting。

  Manyofthegovernmentannuitantsexpresseddissatisfactionagainstthedirectors。Theyaccusedthemofpartialityinmakingoutthelistsforsharesineachsubscription。FurtheruneasinesswasoccasionedbyitsbeinggenerallyknownthatSirJohnBlunt,thechairman,andsomeothers,hadsoldout。DuringthewholeofthemonthofAugustthestockfell,andonthe2ndofSeptemberitwasquotedatsevenhundredonly。

  Thestateofthingsnowbecamealarming。Toprevent,ifpossible,theutterextinctionofpublicconfidenceintheirproceedings,thedirectorssummonedageneralcourtofthewholecorporation,tomeetinMerchantTailors’Hall,onthe8thofSeptember。Bynineo’clockinthemorning,theroomwasfilledtosuffocation;Cheapsidewasblockedupbyacrowdunabletogainadmittance,andthegreatestexcitementprevailed。Thedirectorsandtheirfriendsmusteredingreat。numbers。SirJohnFellowes,thesub-governor,wascalledtothechair。Heacquaintedtheassemblywiththecauseoftheirmeeting,readtothemtheseveralresolutionsofthecourtofdirectors,andgavethemanaccountoftheirproceedings;ofthetakingintheredeemableandunredeemablefunds,andofthesubscriptionsinmoney。

  Mr。SecretaryCraggsthenmadeashortspeech,whereinhecommendedtheconductofthedirectors,andurgedthatnothingcouldmoreeffectuallycontributetothebringingthisschemetoperfectionthanunionamongthemselves。Heconcludedwithamotionforthankingthecourtofdirectorsfortheirprudentandskilfulmanagement,andfordesiringthemtoproceedinsuchmannerastheyshouldthinkmostproperfortheinterestandadvantageofthecorporation。Mr。

  Hungerford,whohadrenderedhimselfveryconspicuousintheHouseofCommonsforhiszealinbehalfoftheSouthSeaCompany,andwhowasshrewdlysuspectedtohavebeenaconsiderablegainerbyknowingtherighttimetosellout,wasverymagniloquentonthisoccasion。Hesaidthathehadseentheriseandfall,thedecayandresurrectionofmanycommunitiesofthisnature,butthat,inhisopinion,nonehadeverperformedsuchwonderfulthingsinsoshortatimeastheSouthSeaCompany。Theyhaddonemorethanthecrown,thepulpit,orthebenchcoulddo。Theyhadreconciledallpartiesinonecommoninterest;theyhadlaidasleep,ifnotwhollyextinguished,allthedomesticjarsandanimositiesofthenation。Bytheriseoftheirstock,moniedmenhadvastlyincreasedtheirfortunes;

  country-gentlemenhadseenthevalueoftheirlandsdoubledandtrebledintheirhands。TheyhadatthesametimedonegoodtotheChurch,notafewofthereverendclergyhavinggotgreatsumsbytheproject。Inshort,theyhadenrichedthewholenation,andhehopedtheyhadnotforgottenthemselves。Therewassomehissingatthelatterpartofthisspeech,whichfortheextravaganceofitseulogywasnotfarremovedfromsatire;butthedirectorsandtheirfriends,andallthewinnersintheroom,applaudedvehemently。TheDukeofPortlandspokeinasimilarstrain,andexpressedhisgreatwonderwhyanybodyshouldbedissatisfied:ofcourse,hewasawinnerbyhisspeculations,andinaconditionsimilartothatofthefataldermaninJoeMiller’sJests,who,wheneverhehadeatenagooddinner,foldedhishandsuponhispaunch,andexpressedhisdoubtswhethertherecouldbeahungrymanintheworld。

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