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Close: June 22nd  Auction is closed. Bid Status
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** Closed **

Lot 733
By: Anonymous
Subject: Satire - Stock Trading
Date: 1720 (circa)

Publication: Het Groote Tafereel der Dwaasheid…

Condition Code: A+

See Condition Guidelines

Color: hand color

Size: 7.7 x 5.8 inches
         19.6 x 14.8 cm


    This engraving is from the important account of one the most infamous financial meltdowns in history, known as the Mississippi Bubble incident. This engraved view depicts the Mississippi River and four small vignettes showing investors devastated by the scheme. There are two columns of verses in Dutch below the scene. On a full sheet of Dutch text measuring 10.1 x 15.3".

John Law, a Scottish financier, established the Banque Generale (central bank) in France. He was then granted control of Louisiana and founded the Compagnie de la Louisiane d'Occident, in 1717. Law developed an elaborate plan to exploit the fabulous resources of the region, which quickly gained popularity and people rushed to invest, not just in France, but throughout Europe. This resulted in the development of several other overseas companies, such as the English South Sea Company and a number of smaller companies in the Dutch Republic. The share prices rose dramatically in a frenzy of speculation. In 1720 the bubble burst; speculators cashed in, caused a run on the shares, and the company went bankrupt. As a consequence of the failure, confidence in other similar companies failed, and thousands of individual investors across Europe were ruined.

Condition Description: Excellent impression and color on watermarked paper.

Estimate:
$400.00 - $475.00


Sold for: $1,000.00

This auction is closed!
The "Sold for:" amount shown above is the price realized not including the Buyer's Premium.