“I come now to take notice of another thing to you, which in my opinion is very much to be minded; and that is the spirit, behaviour and discourse of the man whom, from henceforth, you must look upon as the first minister, and that is Mr. Law. He, in all his discourse, pretends that he will set France higher than ever she was before, and put her in a condition to give the law to all Europe; that he can ruin the trade and credit of England and Holland whenever he pleases; that he can break our Bank whenever he has a mind, and our East India Company. He said publicly the other day at his own table, when Lord Londonderry was present, that there was but one great kingdom in Europe, and one great town; and that was France and Paris. He told Pitt that he would bring down our East India stock, and entered into articles with him to sell him at twelve months hence a hundred thousand pounds of stock at eleven per cent. under the present current price. “You may imagine what we have to apprehend from a man of this temper, who makes no scruple to declare such views, and who will have all the power and all the credit at his court.” Later in the same month he says, “I hope our good friends in the North will make our affairs in Parliament easy. We must in that case exert ourselves to do something decisive towards the payment of the public debts, if we do not intend to submit ourselves to the condition in which Mr. Law pretends to put all Europe. He says, _il rendra la France si grande que toutes les nations de l’Europe, enverront des Ambassadeurs à Paris, et le roy n’enverra que des couriers_.”