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Debates on Public Credit Scheme in 1721 Commons
In December 1721 the House backed resolutions on supply after a vote against adjournment. Walpole presented a plan to graft nine million South Sea stock into the Bank of England and similar into the East India Company to restore credit, with proposals invited from the Bank, South Sea Company, and East India Company. Subsequent days detailed grants and expenditures for Chelsea Hospital, land forces, malt duties, and ordnance, while Worcester petitioned over trade decline.
MENTIONED IN THIS ARTICLE
House
Lowndes
Commons
Werminster Hall
Robert Walpole
Bank of England
East India Company
Hutcheson
Farrer
South Sea Company
Worcester
Cary