Many of the investors in the South Sea boom of 1720 were Dutch. According to Neal, capital moved from France (i.e., the collapse of the French system) to England. The Dutch, who built a substantial overseas empire in the seventeenth century, were avid investors and leaders in establishing financial institutions. The Bank of England, for instance, was set up in 1694 under William III, who was of Dutch origin. Hence, references to Dutch investors are common in Bubble art.
The actual text reads:
The Dutch Bubblers
The Dutch , who were once thought to be A crafty Generation, Are now grown as foolish now we see, As any Neighb'ring Nation: They coppy England, England, France, In vile destructive Bubbles, And e'ery idle fraud advance, That can augment their troubles. Three Nations sure were never curs'd, Before with such a Madness, That raises joyfull hopes at first, But terminates in Sadness.
The top image shows a number of disappointed investors holding sheets of paper, probably stock certificates of little value. The graphic to the left of the text shows a bull staring down at what appears to be a much smaller animal. On the right is a an open chest out of which a number of rodents emerge with pieces of paper (i.e., certificates in their mouths.)
Entry: D. McNeil, May 2000
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