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
“If the charge you mention is laid against our ministry, viz., ‘That
Law is for setting up the Pretender, and they are setting up Mr. Law;
that the Regent will play us false; and that I have been ill-treated
for penetrating these designs; that we are in the hands of France and
dare not own it; that he understands himself with Spain, and that we
shall be the dupes of this alliance, and of this war.’ If this charge
is laid against the Ministers, it shall not be laid against them by my
words. I shall content myself to shew my conduct, that no part of that
charge lies against me.
“Believe me, my dear Craggs, I have no design to enter into any cabals,
nor to make any broils in the state. If I endeavour to show you are
wrong, it is with a design that you may get into the right way again
as soon as possible, that you may not continue to deceive yourselves.
Ask and take the assistance of people who love the King and his
government. You shall always be sure of my little help to support this
ministry. I am not for changes; nor can I be influenced by private
resentment, which, I declare to you upon my honour, I am ready to
forget, as if I never had any reason to complain. My dear Craggs, take
my word for it, Mr. Law’s plan is formed to destroy the King and his
government and our nation; and he will certainly bring his Master into
it; nor is there any other way to divert him from that design but my
showing his Master that it is dangerous for him to attack us. There is
nothing but an appearance of strength and firmness on our side, or the
miscarriage of Law’s system on this side, can save us from a war with
France. No personal credit that anybody may flatter themselves they
have with the Duke of Orleans, will signify anything to divert it. Your
letter about Gibraltar was very well writ, and it was very right to
write it; but I will give you my word for it, it will have no manner
of weight here if Law’s system takes place. If they can bully the
Ministry, or buy a party in England, we must part with Gibraltar; and
when we have parted with it we shall be every way as little secure of
peace as we are at present; and upon many accounts less able to support
a war.”
[Illustration: JOHN, 2ND EARL OF STAIR.
From a Portrait in The National Portrait Gallery, Edinburgh.]
Fresh apprehension seems to have been aroused in Stair’s mind as to
Law’s apparently deep designs for the accomplishment of some great
injury to English interests by the fact that Law about this time had
purchased large quantities of South Sea stock. He communicated his
apprehension to Craggs, who was not disposed to lay great stress upon
the circumstance. This seems to have somewhat allayed his fears, and he
accordingly wrote on 30th April:
Public-domain text, read in full here on John Shaqi.
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