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South Sea Company, chartered in 1711 by the British Parliament, with a monopoly over the W coast of the Americas to a distance of 300 leagues out to sea. In 1720 it assumed a large part of the British national debt and almost collapsed that year in a stock market crash known as the South Sea Bubble.
South Sea Company
South Sea Company, chartered in 1711 by the British Parliament, with a monopoly over the W coast of the Americas to a distance of 300 leagues out to sea. In 1720 it assumed a large part of the British national debt and almost collapsed that year in a stock market crash known as the South Sea Bubble. However, until 1833 British vessels trading on the NORTHWEST COAST were obliged to carry licences from the company, as well as from the EAST INDIA COMPANY.
