Ripon Obelisk, follies and folly towers at follytowers.com (original) (raw)

Ripon is a delightful place with a Cathedral and history dating back to 886 AD. If that is not enough, then in the market place you will also find a 90 foot obelisk erected in 1702, with a claim to it being the oldest obelisk in the country.
My immediate thought on hearing this was to think of Cleopatra's Needle in London. Whilst though it is significantly older, it was only erected in 1879, so is a relative youngster.

Ripon's own 'needle' underwent extensive restoration in 1781 and a plaque states that in 1782 it was finished with the local MP, a William Aislabie having paid for it.
This generous chap was no doubt keen to stay in the good books of the voters, and this may have been difficult, if any had long memories and had lost money speculating in what's come to be called 'The South Sea Bubble'. At the time of these events some 60 years earlier Williams father had been the Chancellor of the Exchequer.

The South Sea Bubble.
The aptly named South Sea Company which had a monopoly on trade to that part of the world, saw its shares at £175 pounds in February 1720, then £380 by March, and £520 by the end of May. The end of June though saw a price of over £1000 pounds, but all along the stock was being bought on the basis of false tales and promises, with a lot of corruption taking place at the level of the directors, and members of the government. When the truth came to light, the price fell away to just £135 by September of the same year.
The scandal that ensued involved leading members of the government of the time, and also the company directors.

**Visiting:-**In the market place of Ripon.