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A Dutch satire of the Mississippi Bubble of 1720

Atlas. Actieuse papiere Atlas naar de Mode met zyn Na-sleep...
Dutch, c.1720. Coloured etching. 280 x 350mmm.
Stock #:  25862

£250.00

1 in stock

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Description

A satire of John Law's 'Mississippi Scheme', with nine figures (including Law, Hercules, Bombario and a Jewish dealer in old clothes) holding spheres above their heads, watched by a cherub with an hour-glass on his head and a bag of wind (an emblem of share-dealing) in his arms. Top right is an inset scene of Hercules about to slay the hydra. French investors rushed to put their money into Scottish banker John Law's 'Compagnie d'Occident', which promised profits from the monopoly of trade between the French outposts of Louisiana & Canada and France. In 1719, as the company expanded (buying additional trade privileges in Asia and Africa, and tax farming rights), the value of shares rose from close to the original 500 livres in May to 3,000 in August, Investors started cashing out, flooding France with cash, causing an inflation rate of 23% in January 1720. The bubble burst, sending the share price back to 500 livres by September. Law fled the country and the company was placed in receivership in April 1721. Originally issued separately, this satire was included in a bound collection, 'Het groote Tafereel der dwaasheid' (The Great Mirror of Folly).

Condition:

Repaired split.

References:

BRITISH MUSEUM: Satires 1648.

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