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1706 a slump bigger than the one that now threatens the country

The economy was at the mercy of the weather. 

Three years after the slump of 1706, the country was in trouble again due to the Great Frost of 1709. 

It helped trigger a 14% drop in activity – a much more severe setback than the pricking of the South Sea Bubble in 1720.

The Guardian 7 May 2020

South Sea Bubble"

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