"De Bubbel Jongen op de Jagt", Anon.
Subject: Satire - Stock Trading
Period: 1720 (circa)
Publication: Het Groote Tafereel der Dwaasheid…
Color: Hand Color
4 x 6 inches
10.2 x 15.2 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 a child, having lost all his "treasures," attempting to hunt a lion and a unicorn with only a torch. There are five columns of verses in Dutch surrounding the scene. Engraved by Pieter van den Berge.
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.
Light toning at top of sheet and a short tear in bottom blank margin, far from image.