“Mississippi begins to stagger; the actions fall and there are no more buyers; which has happened by Law’s imprudence, and boundless desire for gain. He had raised the actions to such a price that it required above forty millions to pay the interest at four per cent. When the French, by degrees, began to make this calculation, and found that it was impossible that even the King could find his account to furnish such a sum annually to support Mississippi, they found themselves cheated; and they are now crowding to sell out. Law will do what he can to support the actions, but the thing is impossible. The mystery of the matter is this: in the original fund of one hundred millions, the King and the Regent had about forty millions; and the same proportion of additional subscription of fifty millions. The company bought the coinage of the King at fifty millions, to be paid in fifteen months. Besides these fifty millions, the King or the Regent, by selling out when the actions were at four hundred, might have got two hundred millions; at which rate they might have been supported. But by buoying them up to six hundred, to make the Regent win three hundred millions, Law risks to have the whole fabric tumble to the ground. For the French, who run on boldly and impetuously in the beginning of all enterprises, run back with the same impetuosity when once they are rebuffed. I do not know if I have explained this matter to you, so as that you will be able to understand. It is, certainly, something more extravagant and more ridiculous than anything that ever happened in any other country. I wish for your diversion I could but talk one hour to you upon that subject.” Law, however, was equal to the opposition of his enemies, and treated their efforts to undermine his position with the utmost indifference and contempt. He proceeded apace with the completion of his schemes, and was now approaching the zenith of his power. All that now remained for him to accomplish of his original plans was the purchase of the great farms and several other smaller sources of the national revenues.