Four scarce pamphlets concerning the “South Sea Company”:
1. B John Aislabie: The Speech of the Right Honourable John Aislabie, Esq; Upon his Defense made in the House of Lords, Against the Bill for Raising Money upon the Estates of the South –Sea Directors, On Wednesday the 19th of July 1721. // London: Printed for J. Roberts, in Warwick Lane, 1721. (Price Six Pence.)
2. Anno Regni Annae Reginae Magnae Britanniae, Franciae, et Hiberniae, NONO. At the Parliament Begun and Holden at Westminster, the Twenty fifth Day of November, Anno Dom. 1710. In the Ninth Year of the Reign of our Sovereign Lady ANNE, by the Grace of God, of Great Britain, France and Ireland, Queen, Defender of the Faith, etc. being the First Session of this present Parliament. London, Printed by the Assigns of Thomas Newcomb and Henry Hills, deceas’d; Printers to the Queens most Excellent Majesty. 1711
3. Anno Regni Annae Reginae Magnae Britanniae, Franciae, et Hiberniae, DECIMO. At the Parliament Begun and Holden at Westminster, the Twenty fifth Day of November, Anno Dom. 1710. In the Ninth Year of the Reign of our Sovereign Lady ANNE, by the Grace of God, of Great Britain, France and Ireland, Queen, Defender of the Faith, etc. being the First Session of this present Parliament. London, Printed by John Baskett, Printer to the Kings most Excellend Majesty. And by the Assigns of Thomas Newcomb, and Henry Hills, deceas’d; 1716.
4. Anno Regni Annae Reginae Magna Britannia, Francia, et Hibernia, DUODECIMO.
At the Parliament Summoned to be Held at Westminster, the Twelfth Year of November, Anno Dom. 1713. In the Twelfth Year of the Reign of our Sovereign Lady ANNE, by the Grace of God, of Great Britain, France and Ireland, Queen, Defender of the Faith, etc. … Sixteenth Day of February, 1713. Being the First Session of this present Parliament. London Printed by John Baskett, Printer to the Queens most Excellent Majesty, And by the Assigns of Thomas Newcomb and Henry Hills, deceas’d. 1714
London: re 1: J. Roberts; re 2-4: By the Assigns of Thomas Newcomb, and Henry Hills, 1711 -1721. Notes: Re 1: “At the close of the year 1719, the South Sea Company—first formed by Harley, earl of Oxford, in 1711, with the object of improving the public credit—proposed a scheme for paying off the national debt. The scheme was strenuously supported by Aislabie, and, notwithstanding the opposition of the Bank of England, was ultimately accepted in an amended form by the House of Commons. Every stratagem was employed to raise the price of the stock while the bill was in progress through parliament. It received the royal assent in April 1720. The subscription lists were thereupon opened, and the shares were immediately taken up by people of all classes. In August the price of the stock rose to 1000, but soon afterwards it began to decline. Public confidence was lost as quickly as it had been won, and not long afterwards the crash came. Thousands of families were ruined, and the resentment against the directors and other promoters of the South Sea scheme became universal. Parliament met 8 Dec. The directors were then ordered to lay before the House of Commons an account of their proceedings. After the Christmas recess a secret committee of inquiry was appointed by the commons, and on 23 Jan. 1720–21 Aislabie resigned the seals of his office. On 8 March the report of the secret committee with reference to the late chancellor of the exchequer was taken into consideration. Though Aislabie made 'a long submissive and pathetick speech in his own defence,' the house unanimously agreed to twelve resolutions, declaring him guilty of 'most notorious, dangerous, and infamous corruption,' that he 'had encouraged and promoted the Dangerous and Destructive execution of the South Sea scheme with a view to his own Exhorbitant Profit,' and that he 'be for his said offences expelled the house.' The next day he was committed to the Tower on the authority of the speaker's writ. During the discussion in the House of Lords on the bill for confiscating the estates of the directors and others for the benefit of the sufferers (in which bill Aislabie's name had been inserted in the other house) he was summoned from the Tower by order of the lords, and twice addressed the committee in his own defence. After some debate it was carried that his name should be retained in the bill, and he was thereupon remanded to the Tower. He was, however, allowed to retain his country estate and all the property of which he was possessed on or before 20 Oct. 1718, so that he did not fare so badly as some of his colleagues.” Wikisource
Re 2: This act is “for making good deficiencies,and satisfying Public Debts; and for Erecting a Corporation to Carry on a Trade to the South-Sea…”
Re 3: This act is “for continuing the Trade to the South – Sea Granted by an Act of the last Session of Parliament, although the Capital Stock of the said Corporation should be Redeemed”.
Re 4: This is “an Act for charging and continuing the duties upon malt, mum, cyder and perry, for the service of the year one thousand seven hundred and fourteen. … And to enable the Governor and Company of the Bank of England and others, to Lend Money upon South Sea Stock”
, Size: quarto, Volume: 4, References: Related to Ref: Alden European Americana 720/114; Cole, The Great Mirror of Folly, pages 23-35; Sabin Bibliotheca Americana 28932; Goldsmith 5879; Howes G 442; Muller, America 1503, Category: Book Ephemera; Book Legal;. Item #B5698
Notes: Re 1: “At the close of the year 1719, the South Sea Company—first formed by Harley, earl of Oxford, in 1711, with the object of improving the public credit—proposed a scheme for paying off the national debt. The scheme was strenuously supported by Aislabie, and, notwithstanding the opposition of the Bank of England, was ultimately accepted in an amended form by the House of Commons. Every stratagem was employed to raise the price of the stock while the bill was in progress through parliament. It received the royal assent in April 1720. The subscription lists were thereupon opened, and the shares were immediately taken up by people of all classes. In August the price of the stock rose to 1000, but soon afterwards it began to decline. Public confidence was lost as quickly as it had been won, and not long afterwards the crash came. Thousands of families were ruined, and the resentment against the directors and other promoters of the South Sea scheme became universal. Parliament met 8 Dec. The directors were then ordered to lay before the House of Commons an account of their proceedings. After the Christmas recess a secret committee of inquiry was appointed by the commons, and on 23 Jan. 1720–21 Aislabie resigned the seals of his office. On 8 March the report of the secret committee with reference to the late chancellor of the exchequer was taken into consideration. Though Aislabie made 'a long submissive and pathetick speech in his own defence,' the house unanimously agreed to twelve resolutions, declaring him guilty of 'most notorious, dangerous, and infamous corruption,' that he 'had encouraged and promoted the Dangerous and Destructive execution of the South Sea scheme with a view to his own Exhorbitant Profit,' and that he 'be for his said offences expelled the house.' The next day he was committed to the Tower on the authority of the speaker's writ. During the discussion in the House of Lords on the bill for confiscating the estates of the directors and others for the benefit of the sufferers (in which bill Aislabie's name had been inserted in the other house) he was summoned from the Tower by order of the lords, and twice addressed the committee in his own defence. After some debate it was carried that his name should be retained in the bill, and he was thereupon remanded to the Tower. He was, however, allowed to retain his country estate and all the property of which he was possessed on or before 20 Oct. 1718, so that he did not fare so badly as some of his colleagues.” Wikisource
Re 2: This act is “for making good deficiencies,and satisfying Public Debts; and for Erecting a Corporation to Carry on a Trade to the South-Sea…”
Re 3: This act is “for continuing the Trade to the South – Sea Granted by an Act of the last Session of Parliament, although the Capital Stock of the said Corporation should be Redeemed”.
Re 4: This is “an Act for charging and continuing the duties upon malt, mum, cyder and perry, for the service of the year one thousand seven hundred and fourteen. … And to enable the Governor and Company of the Bank of England and others, to Lend Money upon South Sea Stock”
, Size: quarto, Volume: 4, References: Related to Ref: Alden European Americana 720/114; Cole, The Great Mirror of Folly, pages 23-35; Sabin Bibliotheca Americana 28932; Goldsmith 5879; Howes G 442; Muller, America 1503, Category: Book Ephemera; Book Legal;.
Price: $3,250.00