A MOMENT IN HISTORY
The South Sea Bubble bursts
1720 CE · United Kingdom, Europe · Economy
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 enslaved Africans to the islands in the "South Seas" and South America.
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