Fonds GB 0096 MS394 - South Sea Company

2 boxes

GB 0096 MS394 1712-1731 fonds 2 boxes South Sea Company

The South Sea Company was founded in 1711 to trade (mainly in slaves) with Spanish America, on the assumption that the War of the Spanish Succession, then drawing to a close, would end with a treaty permitting such trade. The company's stock sold well, but the Treaty of Utrecht made with Spain in 1713, was less favourable than had been hoped, imposing an annual tax on imported slaves and allowing the company to send only one ship each year for general trade. The success of the first voyage in 1717 was only moderate, but King George I of Great Britain became Governor of the company in 1718, creating confidence in the enterprise, which was soon paying 100 percent interest. In 1720 there was an incredible boom in South Sea stock, as a result of the company's proposal, accepted by Parliament, to take over the national debt. The company expected to recoup itself from expanding trade, but chiefly from the foreseen rise in the value of its shares. By September the market had collapsed, and by December South Sea shares had plummeted in value, dragging other, including government, stock with them. Many investors were ruined, and the House of Commons ordered an inquiry, which showed that at least three ministers had accepted bribes and speculated. Many of the company's directors were disgraced, but the company itself survived until 1853, having sold most of its rights to the Spanish government in 1750.

Many of the papers were in the collection of Edmund Waller, and were acquired in 1912 from the Waller family. MS 394 was bought from Myers and Co in 1953.

Orders for payment of dividends or transfer of stocks, 1712-1783, mostly addressed to John Grigsby, accountant of the Company, and his successor, Charles Lockyear.

Access to this collection is unrestricted for the purpose of private study and personal research within the supervised environment and restrictions of the Library's Palaeography Room. Access to archive collections may be restricted under the Freedom of Information Act. Please contact the University Archivist for details. 24 hours notice is required for research visits.

Copies may be made, subject to the condition of the original. Copying must be undertaken by the Palaeography Room staff, who will need a minimum of 24 hours to process requests.

English

A calendar of documents in MS 89 and 218 is available in Reginald Arthur Rye Catalogue of the Manuscripts and Autograph letters in the University Library (1921).

Imported from the Senate House catalogue and edited by Sarah Drewery.

General International Standard Archival Description, ISAD(G), second edition, 2000; National Council on Archives Rules for the Construction of Personal Place and Corporate Names 1997.

Feb 2009. Commodities Occupations Accountancy Trade South Sea Company

Many of the papers were in the collection of Edmund Waller, and were acquired in 1912 from the Waller family. MS 394 was bought from Myers and Co in 1953.

Orders for payment of dividends or transfer of stocks, 1712-1783, mostly addressed to John Grigsby, accountant of the Company, and his successor, Charles Lockyear.

Access to this collection is unrestricted for the purpose of private study and personal research within the supervised environment and restrictions of the Library's Palaeography Room. Access to archive collections may be restricted under the Freedom of Information Act. Please contact the University Archivist for details. 24 hours notice is required for research visits.

Copies may be made, subject to the condition of the original. Copying must be undertaken by the Palaeography Room staff, who will need a minimum of 24 hours to process requests.

• English

• Latin

English

A calendar of documents in MS 89 and 218 is available in Reginald Arthur Rye Catalogue of the Manuscripts and Autograph letters in the University Library (1921).

General International Standard Archival Description, ISAD(G), second edition, 2000; National Council on Archives Rules for the Construction of Personal Place and Corporate Names 1997.

• English