Page:Memoirs of Extraordinary Popular Delusions and the Madness of Crowds Vol 1.djvu/78

62 The nine of hearts was a caricature of the English Copper and Brass Company, with the following epigram: The headlong-fool that wants to be a swopper Of gold and silver coin for English copper, May, in Change Alley, prove himself an ass, And give rich metal for adultrate brass." The eight of diamonds celebrated the company for the colonisation of Acadia, with this doggrel: He that is rich and wants to fool away A good round sum in North America, Let him subscribe himself a headlong sharer, And asses' ears shall honour him or bearer." And in a similar style every card of the pack exposed some knavish scheme, and ridiculed the persons who were its dupes. It was computed that the total amount of the sums proposed for carrying on these projects was upwards of three hundred millions sterling.

It is time, however, to return to the great South-Sea gulf, that swallowed the fortunes of so many thousands of the avaricious and the credulous. On the 29th of May, the stock had risen as high as five hundred, and about two-thirds of the government annuitants had exchanged the securities of the state for those of the South-Sea company. During the whole of the month of May the stock continued to rise, and on the 28th it was quoted at five hundred and fifty. In four days after this it took a prodigious leap, rising suddenly from five hundred and fifty to eight hundred and ninety. It was now the general opinion that the stock could rise no higher, and many persons took that opportunity of selling out, with a view of realising their profits. Many