"Arlequyn Actionist", Anon.

This engraving is from the important account of one the most infamous financial meltdowns in history, known as the Mississippi Bubble incident. In this engraving, Harlequin and Scaramouche hold open a curtain, exposing a view of a street filled with fighting stockholders. Some of the men are stealing stock certificates from one another's backsides. Three men stand on a large square pedestal inscribed with Engelse Narre kappen (English fools' caps), Fransche Narre kappen (French fools' caps) and Duitsche Narre kappen (German fools' caps). In the foreground, Mercury is imprisoned in a large birdcage while a man pumps air into his cage with bellows. A man kneeling beside the cage has dice, playing cards and conjuror's cups. At the center of the stage sits a monkey with several bags of coins and holding a piece of paper with Nul (zero) written on it.

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.

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Condition: A

A hint of toning.