Narrative and Critical History of America, Vol. 5 (of 8): The English and French in North America 1689-1763
History
Narrative and Critical History of America, Vol. 5 (of 8): The English and French in North America 1689-1763
America -- Discovery and exploration; America -- History; United States -- History
=I.= LAW AND THE MISSISSIPPI BUBBLE.—The literature of the Mississippi
Scheme is extensive, and includes the relations of Law’s system to
general monetary science. The Mississippi excitement instigated the
South Sea Scheme in England. Holland, also, was largely affected,
and gave, as well as England and France, considerable additions to
the contemporary mass of brochures which grew out of these financial
revolutions. Law’s own pleas and expositions, as issued in pamphlets,
are the central sources of his own views or pretensions, and are
included in the _Œuvres de J. Law_, published at Paris in 1790. These
writings are again found in Daire’s _Économistes financiers;_ where
will also be met the _Essai politique sur le commerce_ of Melon, Law’s
secretary,—a production which Levasseur styles an allegorical history
of the system,—and the _Réflexions politiques sur les finances et le
commerce_ of Dutot, another of Law’s partisans, who was one of the
cashiers of the Company of the Indies, and undertook to correct what he
thought misconceptions in Melon; and he was in turn criticised by an
opponent of Law, Paris Duverney, in a little book printed at the Hague
in 1740, as _Examen du livre intitulé, etc._
Law’s proposal for his Mississippi Company is also included in a Dutch
collection of similar propositions, printed at the Hague in 1721 as
_Verzameling van alle de projecten en conditien van de compagnien van
assuratie_, etc.
There are various _Lettres patentes_, _Édits_, _Arrests_,
_Ordonnances_, etc., issued separately by the French Government,
some of which are included in a volume published at Amsterdam in
1720,—_Recueil d’arrests et autres pièces pour l’établissement de la
compagnie d’occident_. Others will be found, by title at least, in the
_Recueil général des anciennes lois Françoises_ (Paris, 1830), vol.
xxi., with the preambles given at length of some of the more important.
Neither of these collections is complete, nor does that of Duhautchamp
take their place; but all three, doubtless, contain the chief of such
documents.
A few of the contemporary publications may be noted:—
_Some Considerations on the Consequences of the French settling
Colonies on the Mississippi, from a Gentleman_ [Beresford] _of America
to his Friend in London_, London, 1720 (Carter-Brown, vol. iii. no.
275).
_Impartial Inquiry into the Right of the French King to the Territory
west of the Mississippi_ (London, n. d.).
_The Chimera; or, the French way of paying National Debts laid open_
(London, 1720).
_Full and Impartial Account of the Company of the Mississippi ...
projected and settled by Mr. Law_. To which is added a _Description
of the Country of the Mississippi and a Relation of the Discovery of
it, in Two Letters from a Gentleman to his Friend_ (London, 1720). In
French and English (cf. Carter-Brown, vol. iii. no. 276). This is an
incentive to the speculation.
Public-domain text, read in full here on John Shaqi.
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