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South Sea Company was chartered in 1711 by the British Parliament. It had a monopoly over the West coast of the Americas to a distance of 300 leagues out to sea.
South Sea Company
In 1720, the South Sea Company 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.
