The closing months of 1719, and the opening months of 1720, saw the system at the height of its prosperity. Everything proceeded smoothly. Nothing ruffled the high hopes entertained by all as to its future. At the General Assembly of the proprietors of the Company held, on 30th December, 1719, for the purpose of communicating its position since the previous assembly, and of submitting the accounts for this year, it was reported that, although an accurate balance could not be struck owing to the overwhelming duties of the directors in carrying through the extensive negotiations of the previous months, “the proprietors may be assured that everything passes for the good and advantage of the Company; that the colonies of Louisiana are going on prosperously; that the trade to India, and that to Africa, and to the north, are assuming new vigour; that the produce of the Farms General is visible increasing; that there will be very considerable profits arising from the administration and striking of the coin and from the refining of the materials; that the Company wish to economize the expenses of taxations, and of the emoluments given to the Receivers General of Finance, so that the dividend of the old shares of the Western Company might be fixed at present at the proportion of 40 per cent. and a like dividend for the hundred and fifty millions of the new shares in the India Company.” The board of directors consisted of thirty members, each of whom was obliged to deposit 200 shares as security for his good administration. Their salaries were originally fixed at 6000 livres, but at the same meeting were increased to 30,000 livres, by no means an exorbitant sum in view of the magnitude of their labours and the greatness of their responsibility.