James Craggs

James Craggs (baptized June 10, 1657, Wolsingham, Durham, Eng.—died March 16, 1721) was an English politician implicated in the South Sea Bubble (1720), a widespread speculation in shares of the South Sea Company, which had taken over most of the British national debt. The company persuaded investors to exchange their state annuities for the greatly overvalued stock, which rose as high as 1,000 during the summer of 1720 and fell to 124 in December. After...