February 27, 1720. A prohibition by which no one was to have in his custody more than 500 livres of coin. March 5, 1720. The coin raised to 80 livres _per_ marc. March 11, 1720. The coin brought down to 65 livres _per_ marc; and gold forbid to be coined at the mint, or used in commerce. livres. March 1720. Coined of bank notes for 191 803 060 April 1720. Coined of bank notes for 792 474 720 May 1, 1720. Coined of bank notes for 642 395 130 May 21, 1720. The denomination of the paper diminished by _arret_ of council, which, in an instant, put an end to all credit, and made the bubble burst. At this period had been coined of bank notes to the immense livres sum of 2 696 400 000 Of which had been issued 2 235 083 590 ————————————— Remained in the bank 461 316 410 Dutot, Vol. I. p. 144. Vol. II. p. 207. May 27, 1720. The _arret_ of the 21st of this month recalled, and the paper restored to its full denomination. May 29, 1720. The coin raised to 82 livres 10 sols _per_ marc. June 3, 1720. 400,000 actions belonging to the Regent are burnt; and the 24,000 more, which were created October 4, 1719, suppressed; also 25 millions of the interest formerly granted to the company for their loan of 1600 millions, retroceded by the company, and constituted again upon the town-house of Paris. October 10, 1720. All bank notes are ordered, by _arret_ of this day, to be suppressed, if not brought to the bank before the 1st of December following, in order to be paid in manner therein specified. ------------------------------------------------------------------------ CHAP. XXIX. _Continuation of the Account of the Royal Bank of France, until the time that the Company of the Indies promised a Dividend of_ 200 _Livres_ per _Action_. These things premised, what follows will, I hope, be easily understood. So soon as the Regent of France perceived the wonderful effects produced by Mr. Law’s bank, he immediately resolved to make use of that engine, for clearing the King’s revenue of a part of the unsupportable load of 80 millions of yearly interest, due, though indeed very irregularly paid, to the creditors. It was to compass this end, that he bestowed on Mr. Law the company of the West Indies, and the farm of the tobacco.