Anotherfraudthatwasverysuccessful，wasthatofthe“GlobePermits，“astheywerecalled。Theywerenothingmorethansquarepiecesofplayingcards，onwhichwastheimpressionofaseal，inwax，bearingthesignoftheGlobeTavern，intheneighbourhoodofExchangeAlley，withtheinscriptionof“SailClothPermits。“Thepossessorsenjoyednootheradvantagefromthemthanpermissiontosubscribe，atsomefuturetime，toanewsail-clothmanufactory，projectedbyonewhowasthenknowntobeamanoffortune，butwhowasafterwardsinvolvedinthepeculationandpunishmentoftheSouthSeadirectors。ThesepermitssoldforasmuchassixtyguineasintheAlley。
Personsofdistinction，ofbothsexes，weredeeplyengagedinallthesebubbles，thoseofthemalesexgoingtotavernsandcoffee-housestomeettheirbrokers，andtheladiesresortingforthesamepurposetotheshopsofmillinersandhaberdashers。Butitdidnotfollowthatallthesepeoplebelievedinthefeasibilityoftheschemestowhichtheysubscribed；itwasenoughfortheirpurposethattheirshareswould，bystock-jobbingarts，besoonraisedtoapremium，whentheygotridofthemwithallexpeditiontothereallycredulous。Sogreatwastheconfusionofthecrowdinthealley，thatsharesinthesamebubblewereknowntohavebeensoldatthesameinstanttenpercent。higheratoneendofthealleythanattheother。Sensiblemenbeheldtheextraordinaryinfatuationofthepeoplewithsorrowandalarm。Thereweresome，bothinandoutofParliament，whoforesawclearlytheruinthatwasimpending。Mr。Walpoledidnotceasehisgloomyforebodings。Hisfearsweresharedbyallthethinkingfew，andimpressedmostforciblyuponthegovernment。Onthe11thofJune，thedaytheParliamentrose，theKingpublishedaproclamation，declaringthatalltheseunlawfulprojectsshouldbedeemedpublicnuisances，andprosecutedaccordingly，andforbiddinganybroker，underapenaltyoffivehundredpounds，frombuyingorsellinganysharesinthem。Notwithstandingthisproclamation，roguishspeculatorsstillcarriedthemon，andthedeludedpeoplestillencouragedthem。Onthe12thofJuly，anorderoftheLordsJusticesassembledinprivycouncilwaspublished，dismissingallthepetitionsthathadbeenpresentedforpatentsandcharters，anddissolvingallthebubblecompanies。Thefollowingcopyoftheirlordships’order，containingalistofallthesenefariousprojects，willnotbedeemeduninterestingatthepresentday，whenthereisbuttoomuchtendencyinthepublicmindtoindulgeinsimilarpractices:-
“AttheCouncilChamber，Whitehall，the12thdayofJuly，1720。
Present，theirExcellenciestheLordsJusticesinCouncil。
“TheirExcellencies，theLordsJusticesincouncil，takingintoconsiderationthemanyinconveniencesarisingtothepublicfromseveralprojectssetonfootforraisingofjointstockforvariouspurposes，andthatagreatmanyofhisMajesty’ssubjectshavebeendrawnintopartwiththeirmoneyonpretenceofassurancesthattheirpetitionsforpatentsandcharters，toenablethemtocarryonthesame，wouldbegranted:topreventsuchimpositions，theirExcellencies，thisday，orderedthesaidseveralpetitions，togetherwithsuchreportsfromtheBoardofTrade，andfromhisMajesty’sAttorneyandSolicitorGeneral，ashadbeenobtainedthereon，tobelaidbeforethem，andaftermatureconsiderationthereof，werepleased，byadviceofhisMajesty’sPrivyCouncil，toorderthatthesaidpetitionsbedismissed，whichareasfollow:——