Caricature and Other Comic Art in All Times and Many Lands.Parton, James
History
Caricature and Other Comic Art in All Times and Many Lands.
Parton, James
Caricature -- History
Twenty years elapsed from the time of his flight from a London prison.
He was forty-four years of age, possessed nearly a million and
three-quarters of francs in cash, producible on the green cloth at a
day's notice, and was the most plausible talker on finance in Europe.
This last was a bad symptom, indeed, for it is well known that men who
remain victors in finance, who really do extricate estates and countries
from financial difficulties, are not apt to talk very effectively on the
subject. Successful finance is little more than paying your debts and
living within your income, neither of which affords material for
striking rhetoric. Alexander Hamilton, for example, talked finance in a
taking manner; but it was Albert Gallatin who quietly reduced the
country's debt. Fifteen days after the death of the old king, Law was in
Paris with all that he possessed, and in a few months he was deep in the
confidence of the regent. His fine person, his winning manners, his
great wealth, his constant good fortune, his fluent and plausible
tongue, his popular vices, might not have sufficed to give him
ascendency if he had not added to these the peculiar force that is
derived from sincerity. That he believed in his own "system" is shown by
his risking his whole fortune in it. And it is to his credit that the
first use he made of his influence was to show that the spoliations, the
debasing of the coin, and all measures that inspired terror, and thus
tightened unduly the clutch upon capital, could not but aggravate
financial distress.
His "system" was delightfully simple. Bear in mind that almost every one
in Paris who had any property at all held the king's paper, worth
one-quarter or one-fifth of its nominal value. Whatever project Law set
on foot, whether a royal bank, a scheme for settling and trading with
Louisiana, for commerce with the East Indies, or farming the revenues,
any one could buy shares in it on terms like these: one-quarter of the
price in coin, and three-quarters in paper at its nominal value.
Public-domain text, read in full here on John Shaqi.
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