second Fort, at both of which we are to begin our factories and carry them higher, as our people increases. Our Fort lies in about 28 degrees of latitude; the country is prodigiously sandy; and, I must say, they might as well have sent us to the deserts of Libia, or Barco, to have settled a colony, as thither; we met with no inhabitants near the sea-side, nor indeed for a great many leagues up the river; if you believe some people from Canada, that came to us, their navigation down this river was from 42 degrees to 28, directly south and north; the mountains, water-falls, on the way from Canada, and lakes are incredible; one lake, called Illinois, is so large, that they sailed 40 leagues over it. The different nations up the country, running along the back of the English plantations, I leave to others to describe, that is no part of my business; but the Iroquois, who we were told in France were the inhabitants, are not within a thousand miles of it, nor any other inhabitants. I saw for many hundred miles but here and there some straggling Indians, natives of Florida, and poor, innocent, harmless people. I went up the river in a canoe for some hundred of miles, without seeing the country mend, and after three months stay embarked again for France.” CHAPTER VI Company acquires right of coinage.--Issue of fresh stock and rise in price.--Attempts made to discredit Law.--Stair’s account of the situation.--Law defeats the anti-scheme.--The concluding proposal of his schemes.--The Company’s capital and sources of revenue.--Report of directors for 1719.--Law’s bank converted into a Royal bank against Law’s wish.--The Regent divests notes of the bank of their most valuable features.--Provincial branches established.--Restriction of gold and silver tender.--Extravagance of successful speculators. [Illustration] The Indian Company had only yet touched the fringe of the monopolies Law intended it to embrace. It had embarked upon a sea of dazzling speculation, but its journey was only at its commencement. Its destination, however, was by no means uncertain in the mind of the great financier, and this he was to reach in the space of four months.