This event ended a foreign policy debate that pitted Charles, 2nd Viscount Townshend against James Stanhope and Charles Spencer, 3rd Earl of Sunderland.
This event ended a foreign policy debate that pitted Charles, 2nd Viscount Townshend against James Stanhope and Charles Spencer, 3rd Earl of Sunderland. It led to the downfall of Cabinet ministers such as James Craggs and John Aislabie. One of its perpetrators ran the Hollow Sword Blade Company and "The Classis" lottery. A scheme "For carrying-on an undertaking of great (*) advantage but no-one to know what it is!!" was funded during it. After this event, only the newly-created Sinking Fund, the Treasury, and the Bank of England could handle the national debt. It led to the rise of Robert Walpole, and occurred despite poor terms for a namesake company in the Treaty of Utrecht. For 10 points, name this 1720 British financial disaster caused by the collapse of an overvalued company which traded in its namesake body of water.
This event ended a foreign policy debate that pitted Charles, 2nd Viscount Townshend against James Stanhope and Charles Spencer, 3rd Earl of Sunderland.
South Sea Bubble [or equivalents to failure of the South Sea Company; do not accept answers with “South Seas”]