La Houssaye reported that since the 22nd of May 600,000,000 livres of bank notes had been issued by Law for which there had been no authorisation by the Council, or by the proprietors of the Bank. The question was discussed as to whether the State or the Bank were in the circumstances debtors to the holders, since the liability should be determined according as they agreed that Law had issued them as Controller General or as manager of the Bank. The Duke of Bourbon took the side of the Bank and was supported in his contention by the Prince of Conti. La Houssaye, however, was firm in his opinion that the excess of notes should be met by the Bank, although it appeared that decrees had been issued by the Regent of which the Council were ignorant. The Regent, pressed by the Duke to give an explanation of his proceedings, stated that Law had created the notes on his own authority alone and that in order to save him from the possible consequences of his action, he had validated the notes by antedated decrees. “Then,” replied the Duke, “Law in reality created these notes by your orders; otherwise you would not have allowed him to leave the kingdom and escape the consequences of a capital crime.” The Regent retorted, “It was you who handed him the passports.” “It is true,” said the Duke, “but it was you who sent them to me. I never asked for them; you wished that he should leave the kingdom; and I can very easily explain the circumstances to the King and to the Council. I never advised that Law should depart, but I was opposed to his being handed over to the Parliament, because I believed that it was not to your interest to sanction this after having made use of him as you had; but I never asked you to let him leave the realm, and I beg you in presence of the King and before all these gentlemen to say if I ever did.” “At least,” said the Regent, “I did not order you to lend him your carriage, nor a guard to escort him; you interested yourself more in him than it was my intention. I allowed him to leave because his presence might have injured public credit and prejudice our recovery from the misfortunes into which we have fallen.” It was clear to all those who were present that both the Duke and the Regent were equally afraid to have left Law to the mercy of the Parliament, as he might have proved them authors and accomplices of all that he had done. In their own interests, they had both played their parts badly at the Council table, but all recognised that the Duke only played a very minor part in the affair, and that the Regent throughout had been the real culprit, having compelled Law to issue the notes in order that he might satisfy his own extravagant pleasures.