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
A new element of concern for Lord Stair now introduced itself, and
bulked largely in his subsequent correspondence up to the time of his
departure from Paris. The occupation of Gibraltar by Britain was a sore
point with France and Spain, and many efforts were made at various
times to obtain her dislodgment. Lord Stanhope’s visit to Paris at
this time was taken advantage of by the Regent and Dubois for the
purpose of negotiating its evacuation if possible, and, according
to Stair, he had given some hope of this being brought about. On the
faith of this, the Regent had apparently assured the King of Spain
that Gibraltar would be given up, and felt that his honour was now
involved in this hope being realised. It was soon evident however that
the English government had no intention at any time of entertaining
proposals for its evacuation, and alarm was felt that a rupture might
take place. Law, we are informed by Stair, was anxious to declare war,
and was confident that the resources of France, owing to the operation
of his system, were sufficient to result in a successful issue. He
became very bitter in his conversation about England, and spoke with
a degree of insolence, revolting even to the French. One evening he
invited to dinner Lord Bolingbroke, and so fierce was his denunciation
of the English that the latter vowed he would never again set foot in
Law’s house. On the same occasion one of Stair’s friends had said to
Law, “Sir, what is this rumour which runs through Paris about us going
to have war? I am persuaded that you have nothing to do with it. A
man who thinks of making a flourishing state by commerce, and by the
establishments which require peace, does not think of war.” Law replied
coldly to him, “Sir, I do not wish war, but I do not fear it.”
Lord Stair’s conclusions were undoubtedly biassed by the deep
feelings of resentment he naturally fostered towards the man who had
accomplished his downfall, and he was too ready to make use of any
rumour which in any degree gave colour to the character of the designs
he attributed to Law. There is no substantial evidence that Law really
went so far as Stair would have us believe, and was using every means
in his power to induce the Regent to make the question of Gibraltar
an occasion for hostilities. It is impossible to say more than that
Law was merely an interested spectator, but not an active participant
during the progress of the affair. As first minister, he would be
under the necessity of guarding his opinions when expressed upon the
subject, but there is no reason to believe that he meant more than he
said when he stated he did not wish war, but did not fear it. Yet Stair
sees underlying this remark the insolence of Law with which he has been
endeavouring to impress the government at home, and points out that if
this be his attitude when his system is likely to fall to pieces, what
would it be if his system yet proved a success.
Public-domain text, read in full here on John Shaqi.
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