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Primary sourcePainting1721

Emblematical Print on the South Sea Scheme

William Hogarth · 1721

A satirical engraving by William Hogarth mocking the corruption and greed behind the 1720 South Sea Bubble, a financial crash that embarrassed George I's court.

This satire targets the South Sea Bubble scandal, which embarrassed the court of George I, who had been governor of the company.

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Engraving of a crowded London street scene satirising the South Sea scheme, with a Whirligig ride at centre, a monument inscribed about the 1720 South Sea bubble at right, and captioned verses along the bottom.
William Hogarth, Emblematical Print on the South Sea Scheme, 1721. British Museum.

About this source

What it is

This is an engraving made by William Hogarth in 1721, widely published from 1724, satirizing the speculation and fraud behind the South Sea Bubble of 1720-21. It shows a crowded London scene with a wheel of fortune ridden by recognizable social types, allegorical figures of Honesty and Villainy, and a monument mocking the disaster.

Why it matters

The South Sea Company had taken over Britain's national debt in exchange for trading rights, and its stock price collapsed after wild speculation, ruining many investors and exposing corruption among company directors and government ministers. King George I had been governor of the company, so the scandal touched his court directly. Hogarth's print is considered an early example of editorial cartooning, using satire to criticize powerful people and institutions.

Look closer

  • Who are the different figures on the wheel of fortune, and what does each seem to represent?
  • Why would Hogarth choose allegory and caricature instead of simply describing the crash in words?
  • What does this print suggest about how ordinary Londoners viewed the financial collapse and those responsible?

This painting is part of the curated material that grounds the AI version of George I on Humy.ai — when students ask about related events, the AI can quote it and cite it.

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