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Change Alley, originally known as Exchange Alley, was the busiest street in London in 1720, not for its coffee quality, but as a trading ground for shares in the South Sea Company. While contemporary reviews derided the coffee as a foul mixture reminiscent of burnt breadcrumbs, the ambiance was electric with traders bustling about, captivated by an economic bubble that seemed to inflate with every passing day.
The South Sea Company was emblematic of the speculative frenzy sweeping through London, where stock prices surged wildly, reaching heights beyond reasonable valuation. As the stock of the South Sea Company skyrocketed - from an initial price of around £100 to a staggering £1,000 - the economic atmosphere became charged with excitement and unease.