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
and that therefore he was still bound to prevent his departure. Law
then produced a letter from the Regent to the Duke of Bourbon, in
which the passports had been forwarded, and having thus satisfied the
Governor of their genuineness he was allowed to proceed. On arrival at
Brussels, on 22nd December, he was welcomed by the Marquis de Prié,
Governor of the Imperial Low Countries, and enjoyed his hospitality
while he rested before resuming his journey to Venice. Of all his vast
wealth he took with him into exile the small sum of 36,000 livres,
and two diamond rings of great value, one of which he sent to Madame
de Prié on returning her carriage to her from Brussels. Law’s wife
and daughter remained in Paris for a short time after his departure,
but joined him later in Venice after having realised sufficient to
discharge all household debts due by them.
The rumour of Law’s flight soon spread throughout Paris, and the Duke
of Bourbon was saddled by the community with the responsibility of
allowing his escape. The Regent, who had instructed permission to
be given, had by acting through the Duke relieved himself, so far
as the public were concerned, of any blame in the matter. He had
displayed considerable astuteness in thus shifting the responsibility,
but he had not been altogether disinterested in the safety of the
fugitive, and had not acted from motives of friendship alone. The
meeting of the Regency Council held, on 26th January, to consider the
financial situation, disclosed a set of circumstances of a highly
incriminating character against the Regent, and revealed the extreme
advisability on his part of securing the departure of Law before the
return of Parliament to Paris, lest that assembly should cause him to
be arrested. The new Controller General had since his appointment on
12th December been occupied in the attempt to unravel the complicated
finances of the kingdom, and had prepared a report for submission to
the Council. This was in fact the first occasion upon which the members
had been fully acquainted with the actual position, their complete
subservience to the Regent having hitherto caused them to acquiesce in
all the proposals presented to them for approval.
Public-domain text, read in full here on John Shaqi.
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