being found that £13,300,000 of real stock belonged to the Company, £8,000,000 of this was taken and divided among the losers, giving them a dividend of 331⁄3 per cent.; and by other schemes of adjustment the pressure was so fairly and wisely distributed, that the excitement gradually subsided.” It will thus be seen that the South Sea Bubble was, after all, not more disastrous in its effects than many modern and comparatively unknown speculations.
It is singular that the South Sea Bubble led to little—almost nothing—in the way of advertisements. When we think of the columns which now herald the advent of any new company, or for the matter of that, any new idea of an old company, or any fresh specific or article of clothing, it seems strange that at a time when the art of advertising was fast becoming fashionable, no invitations to subscribe were published in any of the daily or weekly papers that then existed. Just before the consent of Parliament was obtained we find one or two stray advertisements certainly, but they have no official status, as may be judged by this, which is from the Post Boy, April 2-5, 1720:—