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South Sea Sufferer's Act 1721
The South Sea Company (officially: The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America and for the encouragement of the Fishery) was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly (the ''Asiento de Negros'') to supply African slaves to the islands in the "South Seas" and South America. When the company was created, Britain was involved in the War of the Spanish Succession and Spain and Portugal controlled most of South America. There was thus no realistic prospect that trade would take place, and as it turned out, the Company never realised any significant profit from its monopoly. However, Company stock rose greatly in value as it expanded its operations dealing in government debt, and peaked in 1720 before suddenly collapsing to little above it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Straits Of Magellan
The Strait of Magellan (), also called the Straits of Magellan, is a navigable sea route in southern Chile separating mainland South America to the north and the Tierra del Fuego archipelago to the south. Considered the most important natural passage between the Atlantic Ocean, Atlantic and Pacific Ocean, Pacific oceans, the strait is approximately long and wide at its narrowest point. In 1520, the Hapsburg Spain, Spanish expedition of the Portuguese navigator Ferdinand Magellan, after whom the strait is named, became the first Europeans to discover it. Magellan's original name for the strait was ''Estrecho de Todos los Santos'' ("Strait of All Saints"). The King of Spain, Emperor Charles V, Holy Roman Emperor, Charles V, who sponsored the Timeline of the Magellan–Elcano circumnavigation, Magellan-Elcano expedition, changed the name to the Strait of Magellan in honor of Magellan. The route is difficult to navigate due to frequent narrows and unpredictable winds and current ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information are illegal. The rationale for this prohibition of insider trading differs between countries and regions. Some view it as unfair to other investors in the market who do not have access to the information, as the investor with inside information could potentially make larger profits than an investor without such information. However, insider trading is also prohibited to prevent the director of a company (the insider) from abusing a company's confidential information for the director's personal gain. The rules governing insider trading are complex and vary significantly from country to country as does the extent of enforcement. The definition of insider in one jurisdiction can be broad and may cover not only insiders themselves but also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Charter
A royal charter is a formal grant issued by a monarch under royal prerogative as letters patent. Historically, they have been used to promulgate public laws, the most famous example being the English Magna Carta (great charter) of 1215, but since the 14th century have only been used in place of private acts to grant a right or power to an individual or a body corporate. They were, and are still, used to establish significant organisations such as boroughs (with municipal charters), university, universities, and learned society, learned societies. Charters should be distinguished from royal warrant of appointment, royal warrants of appointment, grant of arms, grants of arms, and other forms of letters patent, such as those granting an organisation the right to use the word "royal" in their name or granting city status in the United Kingdom, city status, which do not have legislative effect. The British monarchy list of organisations in the United Kingdom with a royal charter, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
6 Geo
6 (six) is the natural number following 5 and preceding 7. It is a composite number and the smallest perfect number. In mathematics A six-sided polygon is a hexagon, one of the three regular polygons capable of tiling the plane. A hexagon also has 6 edges as well as 6 internal and external angles. 6 is the second smallest composite number. It is also the first number that is the sum of its proper divisors, making it the smallest perfect number. It is also the only perfect number that doesn't have a digital root of 1. 6 is the first unitary perfect number, since it is the sum of its positive proper unitary divisors, without including itself. Only five such numbers are known to exist. 6 is the largest of the four all-Harshad numbers. 6 is the 2nd superior highly composite number, the 2nd colossally abundant number, the 3rd triangular number, the 4th highly composite number, a pronic number, a congruent number, a harmonic divisor number, and a semiprime. 6 is als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bubble Act 1720
The Bubble Act 1720 ( 6 Geo. 1. c. 18) (also Royal Exchange and London Assurance Corporation Act 1719) was an act of the Parliament of Great Britain passed on 11 June 1720 that incorporated the Royal Exchange Assurance Corporation and London Assurance Corporation, but more significantly forbade the formation of any other joint-stock companies unless approved by royal charter. Its provisions were extended later by the ( 14 Geo. 2. c. 37) to include its colonies, particularly Massachusetts. The act gave the South Sea Company a monopoly over British trade with South America until the South Sea Bubble "popped" in Britain's first major stock market collapse. Background Various motivations have been suggested for the act. They include the desire to prevent the speculation that produced the contemporary South Sea Bubble South is one of the cardinal directions or compass points. The direction is the opposite of north and is perpendicular to both west and east. Etymology The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Bubble
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flotation (shares)
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied by th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
War Of The Spanish Succession
The War of the Spanish Succession was a European great power conflict fought between 1701 and 1714. The immediate cause was the death of the childless Charles II of Spain in November 1700, which led to a struggle for control of the Spanish Empire between supporters of the French House of Bourbon, Bourbons and the Austrian House of Habsburg, Habsburgs. Charles had named as his heir Philip V of Spain, Philip of Anjou, a grandson of Louis XIV of France, whose claim was backed by Kingdom of France, France and most of Habsburg Spain, Spain. His Habsburg rival, Charles VI, Holy Roman Emperor, Archduke Charles, was supported by the Grand Alliance (League of Augsburg), Grand Alliance, whose primary members included Habsburg monarchy, Austria, the Dutch Republic, and Kingdom of Great Britain, Great Britain. Significant related conflicts include the Great Northern War (1700–1721) and Queen Anne's War (1702–1713). Although by 1701 Spain was no longer the predominant European power, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South America
South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a considerably smaller portion in the Northern Hemisphere. It can also be described as the southern Subregion#Americas, subregion of the Americas. South America is bordered on the west by the Pacific Ocean, on the north and east by the Atlantic Ocean, and to the south by the Drake Passage; North America and the Caribbean Sea lie to the northwest. The continent includes twelve sovereign states: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela; two dependent territory, dependent territories: the Falkland Islands and South Georgia and the South Sandwich Islands; and one administrative division, internal territory: French Guiana. The Dutch Caribbean ABC islands (Leeward Antilles), ABC islands (Aruba, Bonaire, and Curaçao) and Trinidad and Tobago are geologically located on the South-American continental shel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Seas
Today the term South Seas, or South Sea, most commonly refers to the portion of the Pacific Ocean south of the equator. The term South Sea may also be used synonymously for Oceania, or even more narrowly for Polynesia or the Polynesian Triangle, an area bounded by the Hawaiian Islands, New Zealand and Easter Island. Pacific Islanders are commonly referred to as South Sea Islanders, particularly in Australia. The term was first coined as ''Mar de Sur'', or "South Sea", by Spanish conquistador Vasco Núñez de Balboa in 1513 as he it encountered on the southern coast of the Isthmus of Panama and it was applied to the entirety today's Pacific Ocean. In 1520, Ferdinand Magellan named the same ocean the Pacific Ocean, and over time Magellan's name became more well-known. Origin The Spanish conquistador Vasco Núñez de Balboa coined the term "South Sea" when he traveled across the Isthmus of Panama and reached the Bay of San Miguel, naming the ocean ahead ''Mar del Sur'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
