Government Debt After The Bubble
The company continued its trade (when not interrupted by war) until the end of the Seven Years' War (1756–1763). However, its main function was always managing government debt, rather than trading with the Spanish colonies. The South Sea Company continued its management of the part of the National Debt until it was abolished in the 1850s.
| This section requires expansion. |
Read more about this topic: South Sea Company
Famous quotes containing the words government, debt and/or bubble:
“If there was twenty ways of telling the truth and only one way of telling a lie, the Government would find it out. It’s in the nature of governments to tell lies.”
—George Bernard Shaw (1856–1950)
“I have been told, that in some public discourses of mine my reverence for the intellect has made me unjustly cold to the personal relations. But now I almost shrink at the remembrance of such disparaging words. For persons are love’s world, and the coldest philosopher cannot recount the debt of the young soul wandering here in nature to the power of love, without being tempted to unsay, as treasonable to nature, aught derogatory to the social instincts.”
—Ralph Waldo Emerson (1803–1882)
“No bubble is so iridescent or floats longer than that blown by the successful teacher.”
—Sir William Osler (1849–1919)