ABSTRACT
This chapter considers the waves of bubbles throughout the nineteenth century and twentieth century. The South Sea Bubble 'being the spectacular curtain raiser to the prosperity, vulgarity, and commercialism of the mid-eighteenth century', was followed by successive investment booms. The nineteenth century in Britain was notable for rapid technological and economic development, notably from the benefits of the agrarian revolution started in the eighteenth century, a development that accelerated the progression of industrial capitalism. Throughout the nineteenth century the railway began to play a crucial role in the development of economies. The bubble in foreign loans that had been noted in the first half of the nineteenth century surfaced again at various intervals throughout the century. The activity in foreign loans continued apace, encouraging calls for reform in trading conditions. The problems and high prices led to a lull in trading, but by 1824 the animation was restarted with South America being particularly notable.
