ISBN: 9781235313776

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustra… Plus…

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1784 Excerpt: ... desperation; but also the public revenues wereBOOK continually and rapidly increased, in a manner which could not fail to bring about a fortunate change in the situation of government. The unexpected appearance of so many advantages, made Law be considered as a man of judgment, of extensive and elevated genius, who despised riches, and was ambitious of fame, and who wished to transmit his name to posterity by great acts. The gratitude of the people rose so high, that he was thought worthy of the most honourable and public monuments. This bold and enterprising foreigner availed himself of a disposition so favourable to him, in hastening the execution of a project, which had for a long nrne engaged his attention. In the month of August T717, he obtained permission to establish the Western Company, the rights of which were at first confined to the exclusive trade of Louisiana, and of the beavers of Canada. The privileges formerly granted for the trade to Africa, to the East-Indies, and to China, were soon incorporated with those of the new establishment. These companies, thus united, projected the paying off of the national debt, in order to put them in a condition to accomplish si) great a design, government granted them the sale of tobacco, the coinage, the excise duties, and the farms general. In order to hasten the revolution, Law. obtained on the 4th of December 1718, that the bank which he had established two years before, and which, while it''s interests were distinct from those of the state, had been of so great urility, should be erected into a royal bank. It''s bills passed as current coin between individuals, and they were taken in payment at all the royal treasuries. The BOOK The first operations of the new system gave iJJ universal satisfaction. Th... Raynal, Books, Biography and Memoir, A Philosophical and Political History of the Settlements and Trade of the Europeans in the East and West Indies Volume 2 Books>Biography and Memoir <