1-237-162 - The London Archives (City of London)/Heritage Images

'The Bubblers Medley, or a Sketch of the Times', 1720. Satire on the South Sea Bubble of 1711-1720. A bankrupt man behind bars praying, with mock brokers receipt, and various verses entitled 'The wise man and the ass', 'The stock-jobbing ladies', 'Beggars on horseback', 'A South Sea ballad', the playing card the Knave of Spades, a wrapper addressed 'John Bowles', a 'Bubble card, and finally at the bottom right, a vertically elongated figure of a horse. This bubble, or hoax, centred on the South Sea Company which had been founded in order to trade with Spanish America on the assumption that the War of the Spanish Succession would end soon with a favourable treaty allowing trading. The Treaty of Utrecht in 1713 was not as favourable as hoped, although confidence was boosted when George I became governor of the company. However by September 1720 the market had collapsed and many investors were ruined.