The Title of it is, A Commission of the Office of Comptroller-General of the Finances, for Mr. John Law.
De par le Dieu porte-marotte,
Nous Général de la Calotte,
Attendu que le Régiment
Est obligé sensiblement
Au Sieur Law, de qui la Science
Et conduite dans la Finance
Nous a donné maints Calotins,
En inventant les Bulletins,
Autrement dits Billets de Banque,
Pour servir au jeu de la Blanque,
Jeu non renouvellé des Grecs,
Comme le Fade jeu de l’Oye,
Mais imaginé tout exprès
Pour exciter l’homme à la joye:
Témoin les Plaisans viremens,
Et continuels changemens,
Que l’on a vu dans le Royaume
De Quinquempoix & de Vendôme,
Et Principauté de Soissons,
Où l’Achat & le Dividende
Causoient un Rumeur st grande,
Qu’on ne vit jamais tant de Rats
Obseder gens de tous états:
Mari, Femme, Garçon & Fille!
Laquais, Servantes, la Famille!
En un mot, sans rien excepter,
Venoit jouer & blanqueter,
Et s’y portoit de telle sorte,
Qu’il falloit Gardes à la Porte
Pour renvoyer chacun chez soi,
Après les trois coups de Beffroi.
Là de tous Païs & Provinces,
Marchands, Magistrats, Artisans,
Prélats, Guerriers & Courtisans,
Ducs & Pairs, & même des Princes,
Non du Païs, mais bien forains,
Accouroient comme des Essains,
Malgré vent, grêle, pluye & crotte,
Pour y jouer à la Marotte,
En beaux & bons deniers comptant,
Contre des Voleurs Calotines,
Dont la France & terres voisines
Se pourront souvenir longtems.
A ces Causes, vu l’Abondance
Des Calotins qui sont en France
De tous Rangs & de tous états,
Par le moyen du dit Sieur Las,
Nous lui consions nos Finances;
Voulons que sur ses Ordonnances
Nos fonds soient œconomisés,
Augmentés & réalisés;
Afin que selon son merite
Chacun ait part, grosse ou petite,
Dans nos immenses Revenus,
Tant de gros Fonds que de menus.
Or comme un pareil Ministere
Est sert étendu dans sa Sphere,
Lui donnons pour prémier Commis,
Nompar[61] qui des moins endormis
Connoit la manœuvre diverse
De la Finance & du Commerce.
Lui donnons pour Profits & Droit,
Pensions, Gages & Salaries,
Le quart de tous les Angles droits,
Que couperont les Commissaires
Au papier qui sera visé,
Et duquel en homme avisé
Il a si bien grossi le nombre,
Que la France y seroit à l’ombre,
Si tous le Billets rassemblés,
Et les uns aux autres collés,
On en pouvoit saire une Tente.
Au surplus de ladite Rente,
Lui donnons notre grand Cordon,
Passant de la droite à la gauche,
Ainsi qu’un légere ébauche
De sa droiture, dont le fond
Va si loin que [62]Terrasson même,
Grand calculateur du Système,
Ne pourroit pas le mesurer.
En outre, pour mieux honorer
Le chef de ce grand Personnage,
Qui fit bouquer tout homme sage,
Et soi disant docte & profond,
Lui donnons Calotte de plomb,
De la haute et prémiere classe;
Et pour surcroit de telle grace,
Joignons à ces [63]Coqs dont la voix
Chanta la Justice au François,
Papillons, Rats & Girouettes,
Hannetons Grelots, & Sonnettes.
En mémoirs d’un si beau chant,
Qu’au sortir de France on publie
Qù il va chanter en Italie,
Où sans doute il aura beau champ
Pour exercer son grand Génie,
Et sa connoissance infinie
Dans l’art de décupler les sonds
Par Billets payables à vue,
Desquels aujourd’hui nous voyons
En France une si bonne Issue.
Ordonnons à tous les Païs
De notre vaste Dépendance,
De l’ecouter dans ses avis,
Sur-tout dans l’art de la Finance;
Art qu’il possede eminemment.
Fait au Conseil du Régiment[64].
’Tis certain, that never was any thing more splendid, than the short Reign of his Fortune. The French perfectly idoliz’d, him, and even those who turned their Backs to his Altar, could not help admiring him as an extraordinary Man. The Nobility did not scruple to pay their Homage to him; and I have seen Dukes and Peers of France waiting in his Antichamber, like the meanest Subjects. Towards the Close, there was no coming to the Speech of him without Money. The Swiss must be feed for Entrance at his Gate, the Lacqueys
for Admittance into his Antichamber, and the Valets de Chambre for the Privilege of Access to his Presence-Chamber or Closet. The Audiences too were very short, and People were quickly dismissed with very little Merchandise for a great deal of Money. Mean time he was civil, and his Fortune did not seem to have puff’d him up. He was a fine handsome Man, of a fair Complexion, as the English generally are, and had a very noble Port. Nobody understood Algebra better than he did, and, let his Enemies say what they please, his System was good in itself, and might have been beneficial to France, if it had been punctually follow’d.
The Scheme was calculated for keeping two Thirds more of Species in the Kingdom, than of Bills, in which Case there would always have been Money enough to have paid off those Bills. But this did not satisfy the Avarice of the Under-strappers; and in 1720, when the Bank Bills were put down, there were two Thirds of Bills in the Kingdom, to one Third of Money, viz. five hundred Millions of Money, to a thousand Millions in Bills; and M. d’Argenson, the Protector of the four Brothers of the Name of Paris, prevailed on the Regent to circulate 1760 Millions of extraordinary Bills not registered, with which People bought and sold Shares; and during this Commerce, the Bills were realiz’d by the Brokers into Species; insomuch that, according to a Computation then made by Barême, they say, that at the Time of the total Suppression of the Bills, which was in October 1720, there were more Livres Tournois in the famous Bank of Missisippi, than there had been Minutes since the Creation of the World. All this Variety of Bills had so stupified the Parisians, and they gave them such intire Credit, that before the Arret of the
fifteenth of May 1720, which sunk the Bills from ten per Cent. per Mensem to half their Value, a Parisian did not care to be paid in Specie; for he thought Bills were far better, not only because they were not liable to be lower’d, but because they were more ready to count, and especially to carry. A Man that had Millions in his Pocket did not perceive the Weight of ’em, whereas but one hundred Louis-d’ors are too heavy; and, how was it possible for a Man to carry them in his Pocket without being tir’d? While Peoples Fortunes were in Paper, I could boast of having had a Letter-case once in my Hands, in which there were Notes to the Value of thirty-two Millions. If they had been my own, I question whether I should have let them lie in Bank Bills, with the Hazard of losing half the Value. What follows, is a short, but curious Account of this Scheme[65].