cancellation of the notes there would therefore have remained a balance of 100,000,000. This high-handed proceeding created a deep feeling of resentment throughout the community, and Parliament, deferring to the wishes of the traders and of those who were affected by the change, issued on 15th June a decree practically annulling the whole of the new coinage. The Regent, whose authority was thus threatened, was in despair. He endeavoured to stem the tide of opposition by ordering the destruction of all copies of the decree, and forbidding its publication. Not to be outdone, however, the Parliament employed the services of men who were willing to expose themselves to the risk of being shot down by the soldiery whilst engaged in placarding the decree all the city of Paris. From Paris the opposition spread throughout the whole of France, and became almost revolutionary in its intensity. Law’s position had now unexpectedly become precarious. The outcry was directed towards him no less than the Regent, and D’Argenson, the real initiator of the fatal policy, was unconnected in the public mind with the agitation. Parliament, in the exuberance of its temporary success, resolved upon further measures. It instructed the collectors to refuse payment of taxes in bank notes; it prohibited all foreigners from any share in the management of the national finances; and it withdrew the privileges of the bank in so far as these related to the administration of the Treasury. The climax was reached when Law was charged with the instigation of all the disastrous effects of D’Argenson’s policy, and was under immediate danger of being arrested and forthwith hanged at the gates of the Palais de Justice.