HistoryNotes-12-6-05 - History Notes - 12/6/05 * Section...

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History Notes - 12/6/05 * Section 30: "Western Europe After Utrecht (1713-1740) * * Comparing England and France * * John Lob - Financial Advisor * Patterson -- Great Britain's Financial Advisor * William Penn - Got charter from the king that allowed settlers to go to Pennsylvania * East India Company * Both Lob and Patterson - responsible for creating an International Bank * Mississippi Company - Lob set this up - established a significant trade along the river - ultimately became very successful - it absorbed all the other trading companies - China, Africa, and India Company - Monopoly on all French Trade - It assumed all of the Government's debt * South Sea Company - Assumed the Nation's national debt - opened up membership to the pubic - shares of the stock was being sold * Amateur speculation -- drove prices higher and higher ------ “Like blowing air into the bubble - it gets bigger and bigger and bigger until it would burst” * Stocks were sold, sold, sold, and sold - volume of stocks being sold was too much for the
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HistoryNotes-12-6-05 - History Notes - 12/6/05 * Section...

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