This engraving is from the important account of one the most infamous financial meltdowns in history, known as the Mississippi Bubble incident. This engraved view depicts an elaborate merry-go-round along the coast, powered by a devil on horseback. There are four figures representing various share schemes standing on top of pillars, who drop shares upon the riders below. Atop the central pillar Fortune drops snakes and fool's-caps. A crowd of investors has gathered around the merry-go-round, some bringing gold and riches, all hoping to enter through the gate that is controlled by Bombario, sitting discreetly in a tent with his mother. There are four columns of verses in Dutch below the scene that are attributed to Philadelphus, the nome de plume of Gysbert Tyssens (1693-1732).

John Law, a Scottish financier, established the Banque Generale (central bank) in France. He was then granted control of Louisiana and founded the Compagnie de la Louisiane d'Occident, in 1717. Law developed an elaborate plan to exploit the fabulous resources of the region, which quickly gained popularity and people rushed to invest, not just in France, but throughout Europe. This resulted in the development of several other overseas companies, such as the English South Sea Company and a number of smaller companies in the Dutch Republic. The share prices rose dramatically in a frenzy of speculation. In 1720 the bubble burst; speculators cashed in, caused a run on the shares, and the company went bankrupt. As a consequence of the failure, confidence in other similar companies failed, and thousands of individual investors across Europe were ruined.

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Condition: A

A sharp impression with a few small worm tracks in the bottom margin, marginal soiling, and a faint dampstain at bottom center that just enters the text below the image.