As an essential preliminary to holding the office of Comptroller-general of the French finances, Law allowed the Abbé de Tençin to convert him to the religion of Rome. This apostasy, and its disastrous consequences to France, became the subject of many squibs and satirical verses when the fallacy of the system ultimately appeared. Before the panic came, however, and an attempted realisation on the part of some of the largest holders proved the exaggerated and fictitious value of the bonds, the mania for speculation had crossed the Channel, and raged in this country. The South-Sea bill passed through parliament, and received the royal assent; and on a sudden stock-jobbing seemed to become the sole business of all classes. The Tory papers ridiculed the folly. Sir Robert Walpole published a warning pamphlet, a proclamation forbade the formation of unauthorised companies; but all in vain. Shares in the most absurd bubbles were eagerly caught at. "A company was even announced, and its shares bought, which was merely advertised as 'for an undertaking which shall in due time be revealed.' Among other odd projects were companies 'for planting of mulberry trees, and breeding of silk-worms in Chelsea Park;' 'for importing a number of large jack-asses from Spain, in order to propagate a larger breed of mules in England;' 'for fattening of hogs.' In August, the stock of the various London companies was calculated to exceed the value of five hundred millions." About this time Law's credit balloon began to collapse, which was a hint to the English jobbers of what they might in their turn expect. It was nearly the end of the year when he was compelled to fly from Paris, and take refuge in Venice, where he died, an impoverished gambler, in May 1729, leaving for sole inheritance a diamond worth about 1500 pounds sterling, which he had been in the habit of pawning when hard pushed. Many weeks before his departure from France, however, the London companies were discredited and turned into ridicule by a host of songs and satirical pieces, one of the best of which was the celebrated _South-Sea Ballad; or, Merry Remarks upon Exchange-Alley Bubbles_.