The origins of the English financial markets : investment and speculation before the south sea bubble
In English financial history, the late 1600s was a critical period. Many joint-stock companies appeared creating opportunity for investment in projects that ranged from paper manufacturing to the search for sunken treasure. On the back of demands created by the Nine Years' War, the state also employed innovative tactics to bring in money, the most notorious proposal being the incorporation of the Bank of England. This text is the first complete exploration of the selections made and actions of the investors, who excitedly embraced London's new financial market. It examines the interactions between public and private finance, details how information circulated around the market and was utilised by investors and speculators, and documents the establishment of the institutions - the Bank of England, the national debt, and the secondary market in that debt – which is what England's financial system was built on.