It was the evening of the day following that on which John Law and the regent of France had met in their stormy interview. During the morning but little had transpired regarding the significant events of the previous day. In these vast and excited crowds, divided into groups and cliques and factions, aided by no bulletins, counseled by no printed page, there was but little cohesion of purpose, since there was little unity of understanding. The price of shares at one kiosk might be certain thousands of livres, whereas a square away, the price might vary by half as many livres; so impetuous was the advance of these continually rising prices, and so frenzied and careless the temper of those who bargained for them. Yet before noon of the day following the decree of the regent, which fixed the value of _actions_ upon a descending scale, the news, after a fashion of its own, spread rapidly abroad, and all too swiftly the truth was generally known. The story started in a rumor that shares had been offered and declined at a price which had been current but a few moments before. This was something which had not been known in all these feverish months of the Messasebe. Then came the story that shares could not be counted upon to realize over eight thousand livres. At that the price of all the _actions_ dropped in a flash, as Law had prophesied. A sudden wave of sanity, a panic chill of sober understanding swept over this vast multitude of still unreasoning souls who had traded so long upon this impossible supposition of an ever-advancing market. Reason still lacked among them, yet fear and sudden suspicion were not wanting. Man after man hastened swiftly away to sell privately his shares before greater drop in the price might come. He met others upon the same errand. Precisely the reverse of the old situation now obtained. As all Paris had fought to buy, so now all Paris fought to sell. The streets were filled with clamoring mobs. If earlier there had been confusion, now there was pandemonium. Never was such a scene witnessed. Never was there chronicled so swift and utter reversion of emotion in the minds of a great concourse of people. Bitter indeed was the wave of agony that swept over Paris. It began at the Messasebe, in the gardens of the Hôtel de Soisson, at that focus hard by the temple of Fortuna. It spread and spread, edging out into all the remoter portions of the walled city. It reached ultimately the extreme confines of Paris. Into the crowded square which had been decreed as the trading-place of the Messasebe System, there crowded from the outer purlieus yet other thousands of excited human beings. The end had come. The bubble had burst. There was no longer any System of the Messasebe! It was late in the day, in fact well on toward night, when the knowledge of the crash came into the neighborhood where dwelt the Lady Catharine Knollys. To her the news was brought by a servant, who excitedly burst unannounced into her mistress's presence.