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
“... There is a countryman of mine named Law of whom you have no doubt
often heard. He is a man of very good sense, and who has a head fit
for calculations of all kinds to an extent beyond anybody.... Could
not such a man be useful in devising some plan for paying off the
national debts? If you think so, it will be easy to make him come. He
desires the power of being useful to his country. I wrote about him to
Lord Halifax.... The King of Sicily presses him extremely to go into
Piedmont, to put their affairs upon the foot they have already spoken
of. I have seen the King’s letters to Law, which are very obliging and
pressing. I would not venture to speak thus to you of this man had I
not known him for a long time as a person of as good sense as I ever
knew in my life, of very solid good sense, and very useful; and in the
matters he takes himself up with, certainly the cleverest man that is.”
Shortly before this date Stair had written to Halifax in similar terms,
and received the following reply of date February 14, 1715:
“I had the honour to know Mr. Law a little at the Hague, and have by
me some papers of his sent to Lord Godolphin out of Scotland, by which
I have a great esteem for his abilities, and am extreme fond of having
his assistance in the Revenue. I have spoke to the King and some of his
Ministers about him, but there appears some difficulty in his case, and
in the way of having him brought over. If your Lordship can suggest
anything to me that can ease this matter, I should be very glad to
receive it.”
The latter portion of this letter obviously refers to Law’s conviction
of murder by the English courts, which Law had failed to obtain pardon
for. On April 30, 1715, Stanhope replied to Stair in the following
terms:--
“Though I have not hitherto, in my returns to your Lordship’s letters,
taken notice of what you have writ to me once or twice about Mr. Law,
yet I did not fail to lay it before the King. I am now to tell your
Lordship that I find a disposition to comply with what your Lordship
proposes, though at the same time it has met, and does meet, with
opposition, and I believe it will be no hard matter for him to guess
from whence it proceeds.”
Lord Stair’s admiration of Law was very considerable, and so intimate
was their friendship that we find the first entry in Stair’s
Journal upon his arrival as British Ambassador in Paris in 1715 to
be:--“Wednesday, January the 23rd, at night, arrived at Paris; saw
nobody that night but Mr. Law.” Lord Stair’s strong recommendations of
Law to the British Government were based upon his fixed belief that his
services would be of incalculable value. Law, himself, however, was not
by any means anxious that they should be accepted. He saw greater scope
in France for his financial schemes, and therefore, while permitting
these friendly negotiations to proceed, he was somewhat indifferent as
to their result.
Public-domain text, read in full here on John Shaqi.
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