[2] NATCHITOCHES became an important strategic point with reference to the Spaniards in Texas, who had founded missions at San Antonio and a post at Nacodoches. [3] "COUREURS DE BOIS, or Wood Rangers, are French or Canadese, so called from employing their whole life in the rough exercise of transporting merchandise goods to the lakes of Canada and to all the other countries of that continent in order to trade with the savages. And in regard that they run in canoes a thousand leagues up the country, notwithstanding the danger of the sea and enemies, I take it they should rather be called Runners of Risks than Runners of the Woods."—_Baron la Hontan._ [4] JOHN LAW of Edinburgh was made comptroller-general of the finances of France, upon the strength of a scheme for establishing a bank, and an East India and Mississippi Company, by the profits of which the national debt of France was to be paid off. In 1716 he opened his bank, and the deluded of every rank subscribed for shares both in the bank and company. A. de Pontmartin calls it the "idolatry of the golden calf." Voltaire relates that he had seen Law come to court with dukes, marshals and bishops in his train. The imaginary riches of Louisiana furnished the basis for the scheme. At first the shares went up. In 1720 the inflated bubble exploded, spreading ruin everywhere. Law himself died in poverty. It infused a spasm of prosperity in Louisiana, soon to be followed by reaction which brought every thing to a standstill. Consult any good encyclopædia. [5] ON THE ARKANSAS, but very soon removed lower down the river. These Germans were pioneers of free labor in Louisiana. They became the market gardeners for New Orleans. [6] SLAVERY. Negro slavery was then established in the Spanish and English American colonies. [7] NEW ORLEANS was regularly laid out in 1720. It was protected from inundation by an embankment called a levee. LOUIS XIV.