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
"Nothing!" exclaimed Varenne, bitterly, "except that every minute of
this day is worth a million francs. Man, do you know?"--and in his
frenzy he caught De la Chaise by the collar and half shook him out of
his usual calm--"man, can you not see that Jean L'as has brought
revolution into Paris? Oh! This L'as, this devil of a L'as! A thousand
louis, my friend, a hundred, ten--give me but ten louis, and I will make
you rich! A day of miracles is here!"
CHAPTER VI
THE GREATEST NEED
There sprang now with incredible swiftness upward and outward an Aladdin
edifice of illusion. It was as though indeed this genius who had waved
his wand and bidden this fairy palace of chimera to arise, had used for
his material the intangible, iridescent film of bubbles, light as air.
Wider and wider spread the balloon of phantasm. Higher and higher it
floated, on it fixed the eyes of France. And France laughed, and asked
that yet other bubbles should be blown.
All France was mad, and to its madness there was joined that of all
Europe. The population of Paris doubled. The prices of labor and
commodities trebled in a day. There was now none willing to be called
artisan. Every man was broker in stocks. Bubbles, bubbles, dreams,
fantasies--these were the things all carried in their hands and in their
hearts. These made the object of their desire, of their pursuit
unimaginably passionate and frenzied.
With a leap from the somberness of the reign of Louis, all France went
to the extreme of levity. Costumes changed. Manners, but late devout,
grew debonair. Morals, once lax, now grew yet more lax. The blaze and
tinsel, the music and the rouge, the wine, the flowing, uncounted
gold--all Paris might have been called a golden brothel of delirious
delight, tenanted by a people utterly gone mad.
It was a house made of bubbles. Its domes were of bubbles. Its roof was
of bubbles, and its walls. Its windows were of that nacreous film. Even
its foundations had naught in them more substantial than an evanescent
dream of gauze-like web, frail as the spider's house upon the dew-hung
grasses.
Yet as to this latter, there should be somewhat of qualification. The
wizard who created this fairy structure saw it swiftly grow beyond its
original plan, saw unforeseen results spring from those causes which
were first well within his comprehension.
Berated by later generations as an adventurer, a schemer, a charlatan,
Law originally deserved anything but such a verdict of his public.
Dishonest he was not, insincere he never was; and as a student of
fundamentals, he was in advance of his age, which is ever to be
accursed. His method was but the forerunner of the modern commercial
system, which is of itself to-day but a tougher faith bubble, as may be
seen in all the changing cycles of finance and trade. His bank was but
a portion of a nobler dream. His system was but one vast belief, one
glorious hope.
Public-domain text, read in full here on John Shaqi.
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