Blackwood's Edinburgh Magazine, Volume 64, No. 397, November 1848Various
History
Blackwood's Edinburgh Magazine, Volume 64, No. 397, November 1848
Various
England -- Periodicals; Scotland -- Periodicals
The speculative madness that prevailed in the year 1719-20, the
"bubble mania," as it was called, offered a fertile field to the
satirist. The contagion was caught from France, where, about that
time, John Law projected his celebrated Mississippi Company, and,
by his wild financial manoeuvres, first rendered money a mere
drug, then plunged Paris and France into the profoundest misery. The
outline of Law's history is familiar to most persons. It will be
remembered how, having killed a man in a duel in his own country, he
broke his prison, and fled to France, met the young Duke of Orleans
at the house of a courtesan named Duclos, and, being handsome,
accomplished, and graceful, contracted with him an intimacy that led
eventually to the hatching of the notable Mississippi scheme. The
delusion began to flourish towards the middle of 1718, and was at its
apogee at the close of the following year. The market for the shares
was in an insignificant street, still existing in Paris under the
name of the Rue Quincampoix, where every house was soon subdivided
into an infinity of little offices, and a dwelling whose usual rent
was of six hundred livres yielded one hundred thousand; where a
cobbler gained two hundred livres a-day, by hiring out his shed to
ladies who came to share in and look on at the game; and a hunchback
earned a handsome income by lending his shoulders as a writing-desk.
The five-hundred-livre shares rose to twenty thousand livres--to a
premium, that is to say, of four thousand per cent. Money was for the
time so abundant, that goods rose immensely, and articles of luxury
were all bought up. Cloth of gold, a French writer tells us, became
exceeding rare, except in the streets, where it was seen draping the
plebeian persons of the newly-enriched speculators. A nobleman and
a Mississippian disputed a partridge in a cook's shop: the latter
obtained it for two hundred livres, or more than eight pounds!
Beranger has devoted a witty stanza to that year of madness.
"C'était la régence alors
Et sans hyperbole,
Grâce aux plus drôles de corps,
La France étoit folle;
Tous les hommes s'amusaient,
Et les femmes se prêtaient
A la gaudriole an gué,
A la gaudriole."
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account