The Mississippi Bubble: How the Star of Good Fortune Rose and Set and Rose Again, by a Woman's Grace, for One John Law of LauristonHough, Emerson
General
The Mississippi Bubble: How the Star of Good Fortune Rose and Set and Rose Again, by a Woman's Grace, for One John Law of Lauriston
Hough, Emerson
Law, John, 1671-1729 -- Fiction
Near by the latter, and indeed the central figure of this gathering, was
one less distinguished than either of the above, evidently neither of
churchly ancestry nor civic distinction--Henri Varenne, sometime clerk
for the noted Paris Frères, farmers of the national revenues. Varenne,
now serving but as clerk in the new bank of L'as et Compagnie, could
have been called a man of no great standing; yet it was he whose
presence had called hither these others to this unusual meeting. In
point of fact, Varenne was a spy, a spy chosen by the jealous Paris
Frères, to learn what he might of the internal mechanism of this new and
startling institution which had sprung into such sudden prominence.
"As to the bank of these brothers L'as," said the Prince de Conti,
rapping out emphasis with his sword hilt on the table, "it surely has
much to commend it. Here is one of its notes, and witness what it says.
'The bank promises to pay to the bearer at sight the sum of fifty livres
in coin of the weight and standard of this day.' That is to say, of this
date which it bears. Following these, are the words 'value received.'
Now, my notary tells me that these words make this absolutely safe, so
that I know what it means in coin to me at this day, or a year from now.
Is it not so, Monsieur Fraslin?"
The Jew reached out his hand, took the note, and peered over it in close
scrutiny.
"'Tis no wonder, Monsieur le Prince," said he, presently, "that orders
have been given by the Government to receive this note without discount
for the payment of the general taxes. Upon my reputation, I must say to
you that these notes will pass current better than your uncertain coin.
The specie of the king has been changed twice in value by the king's
orders. Yet this bases itself upon a specie value which is not subject
to any change. Therein lies its own value."
"It is indeed true," broke in Varenne. "Not a day goes by at this new
bank but persons come to us and demand our notes rather than coin of the
realm of France."
"Yes, yes," broke in the prince, "we are agreed as to all this, but
there is much talk about further plans of this Monsieur L'as. He has the
ear of his Grace the regent, surely. Now, sir, tell us what you know of
these future affairs."
"The rumor is, as I understand it," answered Varenne, "that he is to
take over control of the Company of the West--to succeed, in short, to
the shoes of Anthony Crozat. There come curious stories of this province
of Louisiana."
"Of course," resumed the prince, with easy wisdom, "we all of us know of
the voyage of L'Huillier, who, with his four ships, went up this great
river Messasebe, and who, as is well known, found that river of Blue
Earth, described by early writers as abounding in gold and gems."
Public-domain text, read in full here on John Shaqi.
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