Catalog Archive
Auction 192, Lot 711

"Bronwater of Geneesmiddel voor de Zieke Actionisten", Anon.

Subject: Satire - Stock Trading

Period: 1720 (circa)

Publication: Het Groote Tafereel der Dwaasheid…

Color: Black & White

Size:
3.9 x 4.9 inches
9.9 x 12.4 cm
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This engraving is from the important account of one the most infamous financial meltdowns in history, known as the Mississippi Bubble incident. The title of this engraved view translates as "Spring-water or potion for the sick share-holder" and shows a cupid drinking from a spring, holding a spear in his right hand. There are five columns of verses in Dutch flanking the scene, printed from a separate plate. On a sheet of Dutch text measuring 11.3 x 15.0".

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.

References:

Condition: A

A crisp impression, issued folding on a watermarked sheet with light foxing along the top edge of the sheet.

Estimate: $80 - $100

Sold for: $40

Closed on 4/26/2023

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