At the pinnacle of his power and success the new comptroller-general fell into no illusion as to the danger of the position. “He had been forced to raise seven stories on foundations which he had laid for only three,” said a contemporary, as clear-sighted as impartial. Some large shareholders were already beginning to quietly realize their profits. The warrants of the _Compagnie des Indes_ had been assimilated to the bank-notes; and the enormous quantity of paper tended to lower its value. First, there was a prohibition against making payments in silver above ten francs, and in gold above three hundred. Soon afterwards money was dislegalized as a tender, and orders were issued to take every kind to the Bank on pain of confiscation, half to go to the informer. Informing became a horrible trade; a son denounced his father. The Regent openly violated law, and had this miscreant punished. The prince one day saw President Lambert de Vernon coming to visit him. “I am come,” said the latter, “to denounce to your Royal Highness a man who has five hundred thousand livres in gold.” The Duke of Orleans drew back a step. “Ah, Mr. President,” he cried, “what low vocation have you taken to?” “Monseigneur,” rejoined the president, “I am obeying the law; but your Royal Highness may be quite easy; it is myself whom I have come to denounce, in hopes of retaining at least a part of this sum, which I prefer to all the bank-notes.” “My money is at the king’s service,” was the proud remark of Nicolai, premier president of the Exchequer-Chamber, “but it belongs to nobody.” The great mass of the nation was of the same opinion as the two presidents; forty-five millions only found their way to the Bank; gold and silver were concealed everywhere. The crisis was becoming imminent; Law boldly announced that the value of the notes was reduced by a half. The public outcry was so violent that the Regent was obliged to withdraw the edict, as to which the council had not been consulted. “Since Law became comptroller-general, his head has been turned,” said the prince. That same evening Law was arrested by the major of the Swiss; it was believed to be all over with him, but the admirable order in which were his books, kept by double entry after the Italian manner, as yet unknown in France, and the ingenious expedients he indicated for restoring credit, gave his partisans a moment’s fresh confidence. He ceased to be comptroller-general, but he remained director of the Bank. The death-blow, however, had been dealt his system, for a panic terror had succeeded to the insensate enthusiasm of the early days. The Prince of Conti had set the example of getting back the value of his notes; four wagons had been driven up to his house laden with money. It was suffocation at the doors of the Bank, changing small notes, the only ones now payable in specie. Three men were crushed to death on one day in the crowd. It was found necessary to close the