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
It was now imperative that something should be done by the Regent.
He felt that not only was he bound to save his favourite, but that,
if Parliament were allowed without check to pursue its will, he also
would lose his authority and mastery over the realm. Accordingly,
a consultation was held on 19th August at the house of the Duc de
Saint-Simon. “In this conference at my house the firmness of Law,
hitherto so great, was shaken, so that tears escaped him. Arguments
did not satisfy us at first, because the question could only be
settled by force, and we could not rely upon that of the Regent. The
safe-conduct with which Law was supplied would not have stopped the
Parliament an instant. On every side we were embarrassed. Law, more
dead than alive, knew not what to say; much less what to do. His
safety appeared to us the most pressing matter to ensure. If he had
been taken, it would have been all over with him before the ordinary
machinery of negotiation (delayed, as it was likely to be, by the
weakness of the Regent) could have been set in motion; certainly,
before there would have been leisure to think of better, or to send
a regiment of Guards to force open the Palais de Justice; a critical
remedy at all times, and grievous to the last degree, even when it
succeeds; frightful, if instead of Law, only his suspended corpse had
been found!”
Law, knowing the intensity of feeling with which Parliament was
moved, and the certainty of their threat being carried out should
they succeed in arresting him, was greatly concerned for his personal
safety. A secure and ready asylum was at hand. The Regent placed
at his disposal a chamber in the Palais Royal, an astute move on
the part of those who suggested it, not only because it removed the
possibility of Law’s arrest, but because it would have the affect of
strengthening the Regent’s determination to undermine the authority
of that insubordinate assembly. The suggestion emanated from the Dukes
de Saint-Simon, and De la Force, and Fagon, one of the counsellors of
state, all three virulent opponents of Parliamentary institutions.
The presence of Law in the royal palace and the inadvisability of
surrendering him to the tender mercies of the irate House were both
strong incentives to the Regent to act at once with decision so as to
secure the freedom of the powerful financier. A Bed of Justice was
agreed upon by the Regent and his advisers as the only possible means
of annulling the decrees of 15th June. The difficulties, however, in
the way of its being held were great and required the utmost tact and
secrecy. The Duc de Maine, suspected as the prime instigator of the
parliamentary resolutions, and the Marechal de Villeroy, a servile
supporter of all the former’s proposals, were regarded as possible
successful opponents of a session of a Bed of Justice. Both were
guardians of the young king, and as his presence was necessary to
setting the seal of authority to the results of the deliberations
Public-domain text, read in full here on John Shaqi.
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