Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay
page 83 of 314 (26%)
page 83 of 314 (26%)
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The nine of hearts was a caricature of the English Copper and Brass Company, with the following epigram :-- The headlong fool that wants to be a swopper Of gold and silver coin for English copper, May, in Change Alley, prove himself an ass, And give rich metal for adulterate brass. The eight of diamonds celebrated the Company for the Colonization of Acadia, with this doggrel :-- He that is rich and wants to fool away A good round sum in North America, Let him subscribe himself a headlong sharer, And asses' ears shall honour him or bearer. And in a similar style every card of the pack exposed some knavish scheme, and ridiculed the persons who were its dupes. It was computed that the total amount of the sums proposed for carrying on these projects was upwards of three hundred millions sterling, a sum so immense that it exceeded the value of all the lands in England at twenty years' purchase. It is time, however, to return to the great South Sea gulf, that swallowed the fortunes of so many thousands of the avaricious and the credulous. On the 29th of May, the stock had risen as high as five hundred, and about two-thirds of the government annuitants had exchanged the securities of the state for those of the South Sea Company. During the whole of the month of May the stock continued to |
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