John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc.Wiston-Glynn, A. W.
History
John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc.
Wiston-Glynn, A. W.
Law, John, 1671-1729
Although the distribution of coin continued for several weeks, the
needs of the community were still far from satisfied, and the crowds,
instead of diminishing, grew larger each day. On the morning of 17th
July, the crowd, who had commenced to gather at three o’clock, found
their approach to the Bank protected by barricades so as to render the
task of the guard less difficult in arranging the people in file. This
measure of safety, however, only incited the people to violence, and
determined them to destroy it. In the rush, by which it was hoped to
carry away the barricades, a large number were seriously injured, and
twelve were killed. Three of the bodies were forthwith carried to the
Palais Royal, followed by a concourse of three or four thousand people
thirsting for vengeance, and demanding the lives of Law and the Regent,
both of whom were conceived to be the cause of the prevailing distress.
The scene was impressive, and Paris seemed ready to rise in arms, but
Le Blanc was equal to the situation and acted with promptness and tact.
He ordered the guard at the Tuilleries to proceed at once to the Palais
Royal. He himself reached the palace after the utmost difficulty, and
with the greatest coolness informed the people who he was and that he
had come to plead their case before the Regent. Addressing himself to
those who had carried the bodies, he said, “My children, take these
bodies, carry them to a church, and return to me immediately for
payment.” Surprised by the calmness of the Minister, they obeyed in
spite of themselves, and a considerable portion of the crowd followed
them, partly from curiosity and partly in hope of also participating in
the reward. During their absence the guard arrived and dispersed the
crowd without difficulty, the force of their demonstration having been
destroyed by the removal of the bodies.
At ten o’clock on the same day Law drove to the Palais Royal to speak
with the Regent. On the way he was recognised by the widow of one
of those who had lost their lives earlier in the morning. At once
the people surrounded his carriage and threatened to kill him. By
preserving his usual coolness, however, he succeeded in reaching his
destination without injury. The Regent, after the interview, would not
allow Law to return home, and his carriage on making its appearance
on the streets was again attacked and broken to pieces, the coachman
barely escaping with his life. The news immediately spread through the
city, and the First President who had left the chamber where Parliament
was deliberating, hearing it rushed back to inform the members of what
had happened. They rose to their feet and in excitement asked if Law
too had been torn to pieces, but on the President replying that he was
ignorant of all that had occurred, they adjourned the sitting in order
that they might carry the news to their friends.
Public-domain text, read in full here on John Shaqi.
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