History

Did the British government accept the South Sea Company's proposal to assume the responsibility for the national debt?

Link to this answer

CloseClose

Link to this answer

Share this credible answer with others. Simply paste this code into your blog or Web page:

<a href="http://qanda.encyclopedia.com/question/did-british-government-accept-south-sea-company-proposal-assume-responsibility-national-debt-107663.html" >Did the British government accept the South Sea Company's proposal to assume the responsibility for the national debt?</a>
E-mail this answer Link to this answer

The government accepted this proposal, and the result was an incredible wave of speculation, which drove the price of the company's stock from £128 1/2 in Jan., 1720, to £1,000 in August.

Answer verified with
Get more facts and information about South Sea Bubble . Or, view the full encyclopedia entry from The Columbia Encyclopedia, Sixth Edition.

Similar questions: Did the acceptance by the British government of the South Sea Company's proposal to assume the national debt have any negative consequences? What happened when the British government accepted the South Sea Company's proposal to assume the entire national debt? [ Hide these questions ]

Related research questions

Related research articles

See all results at HighBeam

HighBeam gives you access to newspaper, magazine, and trade journal articles plus press releases, facts, information, and biographies from thousands of sources.