When a man of business, therefore, hears on every side rumors of fortunes suddenly acquired; when he finds banks liberal, and brokers busy; when he sees adventurers flush of paper capital, and full of scheme and enterprise; when he perceives a greater disposition to buy than to sell; when trade overflows its accustomed channels and deluges the country; when he hears of new regions of commercial adventure; of distant marts and distant mines, swallowing merchandise and disgorging gold; when he finds joint-stock companies of all kinds forming; railroads, canals, and locomotive engines, springing up on every side; when idlers suddenly become men of business, and dash into the game of commerce as they would into the hazards of the faro table; when he beholds the streets glittering with new equipages, palaces conjured up by the magic of speculation; tradesmen flushed with sudden success, and vying with each other in ostentatious expense; in a word, when he hears the whole community joining in the theme of "unexampled prosperity," let him look upon the whole as a "weather-breeder," and prepare for the impending storm. The foregoing remarks are intended merely as a prelude to a narrative I am about to lay before the public, of one of the most memorable instances of the infatuation of gain to be found in the whole history of commerce. I allude to the famous Mississippi Bubble. It is a matter that has passed into a proverb, and become a phrase in every one's mouth, yet of which not one merchant in ten has probably a distinct idea. I have therefore thought that an authentic account of it would be interesting and salutary, at the present moment, when we are suffering under the effects of a severe access of the credit system, and just recovering from one of its ruinous delusions. Before entering into the story of this famous chimera, it is proper to give a few particulars concerning the individual who engendered it. John Law was born in Edinburgh in 1671. His father, William Law, was a rich goldsmith, and left his son an estate of considerable value, called Lauriston, situated about four miles from Edinburgh. Goldsmiths, in those days, acted occasionally as bankers, and his father's operations, under this character, may have originally turned the thoughts of the youth to the science of calculation, in which he became an adept; so that at an early age he excelled in playing at all games of combination. In 1694 he appeared in London, where a handsome person, and an easy and insinuating address, gained him currency in the first circles and the nickname of "Beau Law." The same personal advantages gave him success in the world of gallantry, until he became involved in a quarrel with Beau Wilson, his rival in fashion, whom he killed in a duel, and then fled to France, to avoid prosecution.