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
On his expulsion from Holland, Law abandoned himself to the life
of a rover amongst the various Continental cities, and to all the
attractions they offered. For six years he exercised with profitable
results his skill as a gambler, and quickly gained a notoriety
throughout Europe as a player of remarkable and unvarying success in
every game of chance. He seems first to have gone to Paris, which
afforded a rich and extensive field for gambling operations, and his
good fortune brought around him a cringing crowd of followers, hoping
to attract to themselves some of the glamour that surrounded the
person of their idol. In his train were to be found the flower of the
French nobility. He spent his time in the houses of the aristocracy
of the day, of whom he was at all times a favoured guest, not less by
his skilful play than by his pleasant, affable manner, and brilliant
conversation and wit. Faro was the game in which he most delighted, and
at the houses of Poisson, Duclos, and at the Hotel de Gesvres, he held
a sort of faro bank, and the _entree_ to these houses was considered
a matter of the greatest favour. In the fashionable crowd of excited
gamesters Law was the only one who remained absolutely cool whatever
the fortunes of the game. His operations were conducted upon a most
extensive scale, and necessitated the employment of considerable sums
of money. It was no uncommon circumstance for Law to carry with him
100,000 livres or more in gold. So cumbrous did this become, that he
conceived and carried out the idea of utilising counters, which were
valued at eighteen louis each, and proved more convenient than the coin
they represented.
Public-domain text, read in full here on John Shaqi.
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