STOCK-JOBBING ACT (1734). An Act to prevent the infamous Practice of Stock-jobbing.

DEALINGS IN STOCKS & SHARES. Great Britain. Parliament.

Published by London: John Baskett, 1734

About this Item

Folio (11.25 inches). 7 George II, Chapter 8. General title leaf + pages 199-206. Woodcut Royal coat of arms and decorative initial. Text in Black Letter. Neatly extracted from a bound volume and expertly mended. As early as 1700, brokers carried on their business of buying and selling stocks on the streets of London. In time, a strong feeling of resentment grew against the practice of stock jobbing, which was denounced as a public nuisance. Stock-jobbing was defined as the manner in which stock brokers who, having no stock of their own, traded with that of other people, buying and selling the stock, and commonly cheating both sides to make a profit for themselves. Suspicion of such activities came to a head during the crash of South Sea Company stock in 1720 (also known as the bursting of the South Sea Bubble) when many fortunes were lost as a result of over-promotion of stocks. The present Act, promoted by Sir John Barnard (British Whig politician and Lord Mayor of London), was passed to prevent stock-jobbing and put an end to dealings in options, futures and margins, and was valid for a period of three years. Seller Inventory # 034

Bibliographic Details

Title: STOCK-JOBBING ACT (1734). An Act to prevent ...

Publisher: London: John Baskett

Publication Date: 1734

Binding: Soft cover

Condition: Very Good

Edition: 1st Edition