John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc.Wiston-Glynn, A. W.
History
John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc.
Wiston-Glynn, A. W.
Law, John, 1671-1729
Stair’s following letter communicates an apparent determination of the
Regent to exclude Law from any influence on the relations of France
with England, but also indicates his hesitation to place too much
reliance upon the Regent’s assurances. “The Regent,” he writes, “so
strongly perceived the dangers into which Law would precipitate him,
that some days ago he repeatedly spoke very strongly to me of the
vanity, presumption, and insolence of this man. He said he knew Law to
be a man whose head had been turned by excessive vanity and ambition;
that nothing could satisfy him except to be absolute master; that he
had so great conceit of his own abilities and so great contempt for the
talents of other men that he was impracticable with every one; that he
had tried to make him work with the cleverest men in France, and that
he could not agree with them for two consecutive days, always being
impatient at the slightest obstacle or contradiction. He told me that
he had rated Law soundly for his insolent discourses which alarmed
everyone in such a way that he had reason to believe that Law would
contain himself; but that he saw clearly no bridle could hold him.
‘But,’ said the Regent, ‘believe me, I shall arrange matters so that
there will be no risk of Law embroiling me with the King nor separating
me from my allies. He is necessary to me in my financial affairs, but
he will not be listened to in political matters, and I shall be on my
guard against his mischievous designs.’ I should like to believe that
the Regent said what he thinks, and that he really thought it at the
moment he spoke to me; but, with all that, a great treasurer, such
as Law, is first minister wherever he chances to be in office; and
if Law’s system is established we are equally lost sooner or later.
Further, believe me, we ought to be aware of this nation; we can never,
with safety, count on their friendship, inasmuch as you could be a
dangerous enemy to them, and can bring home to them the great injury
we could cause them if they disagreed with us. On this account their
friendship will be assured; but we shall miscalculate every time we
depend on them in time of need. You will have received a messenger from
the Abbé Dubois, who would inform you that I told him last Thursday
that I would ask to be recalled. It is not from pique; but I see by the
course things are taking that I shall no longer be able to render any
service to the King at this court.”
Public-domain text, read in full here on John Shaqi.
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