On the 8th of _September_, the stock fell to 640, on the 9th to 550, and by the 19th it came to 400. On the 23d the Bank of England agreed with the South Sea company to circulate their bonds, &c. and to take their stock at 400 per cent., in lieu of 3,775,000_l._, which the company was to pay them. When the books were opened at the Bank for taking in a subscription for supporting the public credit, the concourse was at first so great, that it was judged the whole subscription, which was intended for 3,000,000_l._, would have been filled that day. But the fall of South Sea stock, and the discredit of the company’s bonds, occasioned a run upon the most eminent goldsmiths and bankers, some of whom, having lent great sums upon the stock and other public securities, were obliged to shut up their shops. The Sword-blade company also, who had been hitherto the chief cash-keepers of the South Sea company, being almost drawn of their ready money, were forced to stop payment. All this occasioned a great run upon the Bank. On the 30th South Sea stock fell to 150, and then to 86. “It is very surprising,” says Maitland, “that this wicked scheme, of French extraction, should have met with encouragement here, seeing that the Mississippi scheme had just before nearly ruined that nation. It is still more surprising, that the people of divers other countries, notwithstanding the direful effects of this destructive scheme before their eyes, yet, as it were, tainted with our frenzy, began to court their destruction, by setting on foot the like projects: which gives room to suspect,” says Maitland, “that those destructive and fatal transactions were rather the result of an epidemical distemper, than that of choice; seeing that the wisest and best of men were the greatest sufferers; many of the nobility, and persons of the greatest distinction, were undone, and obliged to walk on foot; while others, who the year before could hardly purchase a dinner, were exalted in their coaches and fine equipages, and possessed of enormous estates. Such a scene of misery appeared among traders, that it was almost unfashionable not to be a bankrupt: and the dire catastrophe was attended with such a number of self-murders, as no age can parallel.” * * * * * Hooke, the historian of Rome, was a severe sufferer by the South Sea bubble. He thus addresses lord Oxford, in a letter dated the 17th of October 1722: “I cannot be said at present to be in any form of life, but rather to live _extempore_. The late epidemical (South Sea) distemper seized me: I endeavoured to be rich, imagined for a while that I was, and am in some measure happy to find myself at this instant but just worth nothing. If your lordship, or any of your numerous friends, have need of a servant, with the bare qualifications of being able to read and write, and to be honest, I shall gladly undertake any employments your lordship shall not think me unworthy of.”