John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc. — John Shaqi
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
genii of the French peasantry. Like vampires, they had for years been
sucking the very life-blood of the nation. No redress was open to their
victims, and resistance only had the effect of increasing the burdens
laid upon their shoulders. The institution of the Chamber of Justice
was accordingly received with unbounded joy. Every tax-farmer was
arraigned before this tribunal. The most searching investigation was
made, not only into his own dealings, but also into the dealings of the
hordes of satellites whom he employed to bleed his unfortunate victims.
Where information was withheld, or even where it was suspected that the
information given was tainted with inaccuracy, encouragement was given
to informers by holding out promises of 20 per cent. of any fines that
might be levied. Such a system, of course, was bound to bring evils
in its train as great as those it was intended to remove. A reign of
terror set in amongst the farmers-general. No sympathy was extended to
them by their judges. All confidence in their honesty had long ago been
destroyed. They were already prejudged. No effort on their part could
by any possibility ward off the weight of accusation against them.
Prison accommodation was soon taxed beyond its capacity. Those who were
fortunate enough to escape this Jeddart justice by bribery, by payment
of enormous fines, or by quietly submitting to wholesale confiscation,
left the country as a measure of personal safety. The records of the
period teem with the decisions of the Chamber of Justice and their
consequences. Most of the cases reflect a degree of moral obliquity on
the part of the judges not less than on the part of the accused. We are
told of one instance where a contractor had been taxed, in proportion
to his wealth and guilt, at the sum of twelve millions livres. A
courtier, possessing considerable influence with the Government,
offered to procure a remission of the fine for a bribe of one hundred
thousand crowns. “You are too late, my friend,” replied the contractor,
“I have already made a bargain with your wife for fifty thousand.”
In the course of a few weeks almost the whole of the fraternity had
run the gauntlet of the Chamber of Justice. They had been stript of
their power, their influence and their possessions. The country had
been effectively cleared of their presence, but to comparatively small
advantage. The total fines and confiscations amounted to one hundred
and eighty million livres, of which the Government received only one
half, and its parasites the other. As a consequence, its career was
brought to a close, and with it the ingenious financial devices of the
Council of Ministers.
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