1,749,625 research outputs found
(Re)financing the Slave Trade with the Royal African Company in the Boom Markets of 1720
Full text linkIn 1720, subscription finance and its attendant financial policies were highly successful for the Royal African Company. The values of subscription shares are easily understandable using standard elements of derivative security pricing theory. Sophisticated provision for protection of shareholder wealth made subscription finance successful; its parallels with modern innovated securities are demonstrated. A majority of Company shareholders participated in the re-financing, but could provide only a small portion of the new equity required. The re-financing attracted to the subscription an investment class that was strongly composed of parliamentary and aristocratic elements, but appeared to be only weakly attractive to persons who had already invested in the East India Company and was not attractive at all to Bank of England investors or to those persons who were investing in newly created marine insurance companies. Subsequent trade in subscription shares was more intense than was other share trading during the South Sea Bubble, but the trade was only lightly served by financial intermediaries. Professional financial intermediaries did not form densely connected networks of trade that were the hallmarks of Bank of England and East India Company share trading. The re-financing launched an only briefly successful revival of the Company¡¯s slave trade.South Sea Company; South Sea Bubble; goldsmith bankers; subscription shares; call options; derivatives; installment receipts; innovated securities; networks.
Financial Market Analysis Can Go Mad (in the search for irrational behaviour during the South Sea Bubble)
Full text linkAn investigation into the legal and political history of South Sea Company subscription finance shows that the subscription contracts had default options built into them, as was typically the case in eighteenth-century subscription financing. Company records and contemporary pamphlet literature show that people understood the subscription finance mechanics that were stated in law. A fair presentation of South Sea share value data also supports this view. We thus conclude that the analyses published in this Review by Dale, Johnson and Tang were irretrievably flawed and present a substantially incorrect history of the markets for South Sea shares.South Sea Company, Royal African Company, Financial Revolution, Bubble Act, subscription shares, options markets.
East India Company and Bank of England Shareholders during the South Sea Bubble: Partitions, Components and Connectivity in a Dynamic Trading Network
Full text linkA new dataset, in the form of a network graph, is used to study inventory and trading behaviour amongst owners of East India Company (EIC) and Bank of England (BoE)stock around the South Sea Bubble. There was a decline in market intermediation in which the goldsmith bankers were dominant in 1720, but foreigners and Jews to some extent restored intermediation services after the Bubble. Company directors temporarily helped to sustain intermediation in 1720 itself. Whereas before and during the Bubble intermediation was largely in the form of brokerage, after the Bubble dealership noticeably began to displace brokerage.South Sea Company; Financial Revolution; social networks, financial intermediation, inventories.
Christchurch Vessels in Exchequer Port Books of Southampton, 1670-1720
No full textMerchandise carried by vessels based at Christchurch, Hampshire (now Dorset), as recorded in the Exchequer Port Books of the Customs Port of Southampton, 1670-1720
Poems 1720
No full textEdinburgh : printed for the author at the Mercury ..., 1720.
viii, 384p; 18 cm.
Persistent link to this record: https://encore.qub.ac.uk/iii/encore/record/C__Rb150459
De Rescindendis Sponsalibus Ob Deformitatem Supervenientem Occasione [...] Exercitatio Sabbathina V. Quam Sub Præsidio Dn. Samuelis Friderici Willenberg [...] D. XIV. Martii MDCCXX. Hora XI. Instituent Repondens
No full text4°
Arnould de Vuez, peintre lillois, 1644-1720 /
No full textBibliography: p. [3-12].Mode of access: Internet
Government equity and money: John Law’s system in 1720 France
Full text linkJohn Law’s System was a radical restructuring of French public finances, carried out from 1716 to 1720. It involved on the one hand a conversion of the existing French public debt into something like government equity, on the other hand the replacement of commodity money with fiat money. For strategic reasons, Law supported the equity at too high a level, resulting in uncontrolled money creation. The System ended with the recreation of a public debt at, surprisingly, the same level as before.France ; Debts, Public ; Money
Culture change along the tobacco coast: 1670-1720
No full textThis study tests the proposition that Anglo-American culture in the Chesapeake Bay region, Maryland and Virginia, changed significantly during the period 1670 to 1720. This is accomplished by measuring temporal variation in selected categories of material culture: architecture, food remains, ceramics, and domestic furnishings and utensils taken to represent living standards. Directional changes in patterns of variation for each material category together are inferred as representing a shift in cultural norms. These changes are causally related to a broader cultural shift occurring throughout Anglo-America and northern Europe. The specific trajectory of change in the Chesapeake is embedded in local conditions of social development reflecting adaptation to the alien environment and a resulting cultural impoverishment. Manifestation of a consumer revolution in the 18th century is attributed to the transformation of the Chesapeake from a society that was relatively unstructured to one that was stratified and led by a creole gentry elite.</p
Luminaries in the natural world: the sun and the moon in England, 1400-1720
No full textKnown and observed by all levels of society, the sun and moon, or the «luminaries,» were a continuous thread in the tapestry of late medieval and early modern English culture. Tracing this specific thread is a novel means of understanding changes in epistemological conceptions of the natural world realized in the Scientific Revolution. This book demonstrates that the luminaries were transformed from peerless bodies that radiated powerful forces into objects of scientific study, and in the case of the moon, a place to visit imaginatively with its own geography and probable inhabitants. Utilizing literary, historical, and visual evidence, Luminaries in the Natural World indicates how and why these changes in solar and lunar perceptions occurred among the scientific community from 1400 to 1680, breaking new ground with its emphasis on influences from cartography, astrology, and hermeticism. The author then turns to an analysis of the extent to which this cognitive shift occurred in larger English society, exploring conceptions of fashionable curiosity about the natural world from 1680 to 1720.</p
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