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.
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Famous quotes containing the words government, debt and/or bubble:
“Government is an evil; it is only the thoughtlessness and vices of men that make it a necessary evil. When all men are good and wise, government will of itself decay.”
—Percy Bysshe Shelley (1792–1822)
“A good debt is not as good as no debt.”
—Chinese proverb.
“No bubble is so iridescent or floats longer than that blown by the successful teacher.”
—Sir William Osler (1849–1919)