From opposition on the ground of policy alone to personal differences was an easy stage. Law, conscious of his own power, had been hitherto somewhat indifferent to the efforts of Lord Stair to weaken his direction of the foreign policy of France. A rumour, however, which gained circulation towards the end of the year determined him to rid the French court of a man who he thought was moved not less by personal enmity than by the interests of the country he represented. Two circumstances had happened of an alarming nature which threatened the safety of the Bank and the value of Mississippi stock. A run had been made upon the Bank, and an attack upon the market had been organised with a view to depreciating the price of shares. These disturbing events had been attributed to Lord Stair, and Law at once informed the Regent to whom the matter was of great concern. Lord Stair was innocent of the charge, and naturally sought an interview with the Regent in order to disabuse his mind. The result was satisfactory so far as the assurances of the Regent went, but displayed the latter’s duplicity since he was throughout unquestionably on the side of Law. Stair’s letter descriptive of the interview was dated 11th December. “Several days ago I was informed on very good authority, that Mr. Law told the Duke of Orleans that it was I who had latterly been the cause of the attack on the Bank. I thereupon resolved to clear myself with him, and I turned the conversation in such a way that he mentioned he had been told that I had been the cause of the attack. I said to him, ‘My Lord, I understand that Mr. Law has had a talk with you, and I am very pleased to have the opportunity of proving to you that he is absolutely false in all his statements. It is true that the subjects of the King, my master, have considerable wealth in this country, which it would have been very easy for me to have used to the prejudice of the Bank. But if it is true that neither I nor any other subject of the King had taken billets in order to have them changed at the Bank; if we have not placed shares on the market in order to depreciate them; if it is true that I have had no communication with those who have run on the Bank, you ought to be convinced that Mr. Law’s talk is not only false but is the most atrocious calumny and the most unworthy; a calumny which does not tend only to deceive you on my account, a trustworthy servant at all times, through gratitude and through affection; but which tends to embroil you with my master, the King, who is your best friend and ally; for I know that Mr. Law stated at the same time that what I did in this respect I did by order of my court.