The History and Antiquities of London, Westminster, Southwark, and Parts Adjacent, vol. 3

Allen, Thomas
1827

South Sea House.

South Sea House.

An extensive e edifice of brick; the dividend room is a noble apartment, with coupled pilasters of the Corinthian order round it. The ceiling is of stucco divided into compartments. In the court room are full length portraits of George I. II. and III.

The south sea company was established by act of parliament, in the year 1711, under the title of The company of merchants of Great Britain, trading to the South Seas and other parts of America, and for encouraging the fishery. But although it thus appeared a commercial body, yet its operations were principally financial, and ha e long been wholly so. It had its origin in the arrears due to the army and navy, which exceeded nine millions; this the south sea company agreed to pay off, and advance an additional sum of upwards of 800,000l. which made the whole loan to government ten millions ;--credit was given to that amount, and the interest fixed at 600,000l. a year.

The subsequent career of this company has been fully narrated in another part of this work.Vol. ii. p. 12.

Thousands of persons were totally ruined by speculation in this company, which occasioned a dreadful panic in the country, and had it not been for the prudent conduct of government, might have been productive of the most fatal consequences.

The present south sea company, which is managed by a governor, sub-governor, and twenty-one directors, annually elected, has no trade, although, when its capital was funded in 1733, one-fourth was reserved as a trading capital stock. The amount of the funded capital in south sea stock and annuities, on the 5th of January, 1823, amounted to 12,192,680l. 13s. 11d.

The annexed plan of the parish of St. Martin Outwich, 1599, is from a drawing on vellum in the clerks' office, merchant taylor's hall.

In Bartholomew lane is

An extensive e edifice of brick; the dividend room is a noble apartment, with coupled pilasters of the Corinthian order round it. The ceiling is of stucco divided into compartments. In the court room are full length portraits of George I. II. and III.

The south sea company was established by act of parliament, in the year , under the title of

The company of merchants of Great

Britain

, trading to the South Seas and other parts of America, and for encouraging the fishery.

But although it thus appeared a commercial body, yet its operations were principally financial, and ha e long been wholly so. It had its origin in the arrears due to the army and navy, which exceeded millions; this the south sea company agreed to pay off, and advance an additional sum of upwards of which made the whole loan to government millions ;--credit was given to that amount, and the interest fixed at a year.

The subsequent career of this company has been fully narrated in another part of this work.

Thousands of persons were totally ruined by speculation in this company, which occasioned a dreadful panic in the country, and had it not been for the prudent conduct of government, might have been productive of the most fatal consequences.

259

 

The present south sea company, which is managed by a governor, sub-governor, and directors, annually elected, has no trade, although, when its capital was funded in , - was reserved as a trading capital stock. The amount of the funded capital in south sea stock and annuities, on the , amounted to

The annexed plan of the parish of St. Martin Outwich, , is from a drawing on vellum in the clerks' office, merchant taylor's hall.

In is

 
 
Footnotes:

[] Vol. ii. p. 12.

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 Title Page
 Dedication
 CHAPTER I: The site, extent, buildings, population, commerce, and a view of the progressive increase of London
 CHAPTER II: List of the parishes and churches in London, with their incumbents, &c
collapseCHAPTER III: History and Topography of Aldersgate Ward
collapseCHAPTER IV: History and Topography of Aldgate Ward
collapseCHAPTER V: History and Topography of Bassishaw Ward
collapseCHAPTER VI: History and Topography of Billingsgate Ward
collapseCHAPTER VII: History and Topography of Bishopsgate Ward, Without and Within
collapseCHAPTER VIII: History and Topography of Bread-street Ward
collapseCHAPTER IX: History and Topography of Bridge Ward Within
collapseCHAPTER X: History and Topography of Broad-street Ward
collapseCHAPTER XI: History and Topography of Candlewick Ward
collapseCHAPTER XII: History and Topography of Castle Baynard Ward
collapseCHAPTER XIII: History and Topography of Cheap Ward
collapseCHAPTER XIV: History and Topography of Coleman-street Ward
collapseCHAPTER XV: History and Topography of Cordwainer's-street Ward
collapseCHAPTER XVI: History and Topography of Cornhill Ward
collapseCHAPTER XVII: History and Topography of Cripplegate Ward Within
collapseCHAPTER XVIII: History and Topography of Cripplegate Yard Without
collapseCHAPTER XIX: History and Topography of Dowgate Yard
collapseCHAPTER XX: History and Topography of Farringdom Ward Within
collapseCHAPTER XXI: History and Topography of Farringdon Ward Without
collapseCHAPTER XXII: History and Topography of Langbourn Ward
collapseCHAPTER XXIII: History and Topography of Lime-street Ward
collapseCHAPTER XXIV: History and Topogrpahy of Portsoken Ward
collapseCHAPTER XXV: History and Topography of Queenhithe Ward
collapseCHAPTER XXVI: History and Topography of Tower Ward
collapseCHAPTER XXVII: History and Topography of Vintry Ward
collapseCHAPTER XXVIII: History and Topography of Wallbrook Ward
This object is in collection:
Edwin C. Bolles papers
Subjects
London (England)--History
Antiquities
Permanent URL
http://hdl.handle.net/10427/44306
ID: tufts:UA069.005.DO.00068
To Cite: DCA Citation Guide
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