ON THIS DAY: 1 August 1720
ON THIS DAY: 1 August 1720 – The infamous ‘South Sea Bubble’ began to collapse. By December, shares in the South Sea Company had plummeted from a dazzling £1,000 to a dismal £124. Often called the first financial crash and sometimes dubbed the world’s first Ponzi scheme, it devastated investors across Britain. Even Isaac Newton … Read more