Lot #: 22355
Rue Quinquempoix en l'année 1720. De regte afbeelding der wind negotie gehouden in de straat van Quinquempoix tot Parys. |
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This item is available for immediate sale
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Description
A true picture of the wind trade of the rue Quinquempoix, Paris, in 1720, taken from "Het groote tafereel der dwaasheid : vertoonende de opkomst, voortgang en ondergang der actie, bubbel en windnegotie, in Vrankryk, Engeland, en de Nederlanden, gepleegt in den jaare MDCCXX".
Engraved by Leonard Schenk. A caricature in prose and verse satirizing the disastrous Mississippi scheme (1718-1720) of the French Compagnie d'Occident and the speculations its stock that led to the complete ruin of many of its over-eager French, Dutch and English shareholders. John Law (1671-1729), the son of an Edinburgh banker and successful financier who established the Banque Générale in France in 1715, founded the Compagnie de l'Occident for the exploitation of the resources of French Louisiana after Antoine Crozat had surrendered his charter in 1717.
Law's reputation caused the stock to sell readily, and the organization soon enlarged the scope of its activities by absorbing other commercial companies, its name then being changed to the 'Company of the Indies'.
Enormous profits were anticipated…and the increasing demand for its stock led to wild speculation.
The anticipated immense and immediate profits were not realized, and soon the scheme revealed itself as a purely speculative venture. In 1720 the company failed, the 'bubble' busted and the stockholders lost their entire investment, many being completely ruined.
Read more about "Speculative bubbles - The First financial crisis". [+]
Read more about "Speculative bubbles - The First financial crisis". [+]
Reference: A.H.Cole, The great mirror of folly, 1949.
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To buy or bid in this Buy-or-Bid sale you must register with us. It is free, and we automatically update you about future auctions.
During the Buy-or-Bid sale you can buy or bid on 1500 - 2000 antique, rare maps, town views, old master prints, decorative prints, atlases, posters and Medieval manuscripts.
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FAQ
Please have a look at more details about the Buy-or-Bid sale.
Authenticity Guarantee
We provide professional descriptions, condition report and HiBCoR rating (based on 45 years experience in the map business)We fully guarantee the authenticity of items we sell. We provide a certificate of authenticity for each purchased item.
Shipping fee
A flat shipping fee of € $ 30 is added to each shipment within Europe and North America. This covers : International Priority shipping, Packing and Insurance (up to the invoice amount).
Shipments to Asia are $ 40 and rest of the world $50
We charge only one shipping fee when you have been successful on multiple items or when you want to combine gallery and auction purchases.
Read More about invoicing and shipping
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In accordance with the EU Consumer Rights Directive and habitually reside in the European Union you have the right to cancel the contract for the purchase of a lot, without giving any reason.
The cancellation period will expire 14 calendar days from the day after the date on which you or a third party (other than the carrier and indicated by you) acquires, physical possession of the lot. To exercise the right to cancel you must inform Paulus Swaen Europe bv, which is offering to sell the lot either as an agent for the seller or as the owner of the lot, of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, or e-mail (amsterdam@swaen.com).
To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.