Engraving - Not signed - 1720
|Condition:||In good condition|
|Title of artwork:||2st.prenten uit Tafereel der dwaasheid|
|Sold with frame:||No|
Size: 1: 20 x 27 cm 2: 27 x 39 cm
1: De Kornet van vuil gewin..
2:Stryd tuszen de smullende bubbel heeren..
Condition: good, but somewhat tanned, the large print has 2 small tears in the print. Verso: blank.
Prints published in : Het groote tafereel der dwaasheid : vertoonende de opkomst, voortgang en ondergang der actie, bubbel en windnegotie, in Vrankryk, Engeland, en de Nederlanden, gepleegt in den jaare MDCCXX.
Propagated by the French Compagnie d’Occident, the Scheme was organised for international land and trading speculation which led to the complete ruin of many of its over-enthusiastic investors, including French, Dutch and English shareholders. The engraving portrays the events as a stage play in acts, a caricature satirizing John Law and his disastrous Mississippi Scheme, which resembled in virtually all aspects, the South Sea Bubble of 1719-1720.
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. "Het Groote Tafereel Der Dwaasheid".
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|Member since:||June 17, 2013|
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