While d'Iberville was away, his brother Bienville started on an expedition to explore the Mississippi. And he soon discovered that the French had taken possession none too soon, for not far from where New Orleans now stands, he fell in with a British ship. On board were a lot of French Huguenot families who had come to found a settlement on the Mississippi. Bienville talked to the captain, who told him that this was one of three ships sent out from England by a company formed of Huguenots and Englishmen who intended to found a colony on the Mississippi. They were not sure, however, whether they were on the Mississippi or not.
Bienville at once assured them that they were not, but were instead on a river which belonged to Louis of France, where already the French had several settlements. The British captain believed what he was told and, much to the Frenchmen's delight, turned back. Just at the spot where this took place the river makes a bed, and because of this it was given the name of English Bend, by which name it is known to this day.
D'Iberville only stayed long enough in France to gather more colonists and returned at once to Louisiana, where he founded two more towns along the coast. But the colonists sent out by Louis were of the lowest. Many of them were little more than rogues and vagabonds. The mere off-scourings of the towns, they were idle and extravagant, and the colony did not prosper.
Instead of putting gold into Louis' pockets, as he had hoped, he had constantly to pour it out to maintain the colony. Of that Louis soon grew tired. Besides this he wanted all the money he could gather to carry on the war (Queen Anne's War), which was still raging. So, in 1712, he handed Louisiana over to a wealthy merchant named Crozat to make what he could out of it.
Such great power was given to this merchant that he was little less than a king. He had every monopoly. Nobody in the colony could buy or sell the smallest thing without his permission, and every one had to work for him and not for themselves. But the people were by no means willing workers. They were, said one of their priests, "nearly all drunkards, gamblers, blasphemers and foes of everything that was good," and when they found that they are expected to work merely to put money into the proprietor's pocket they would not work at all.
So very soon Crozat found he could make nothing out of the colony. And after some vain efforts to make it pay he gave up his charter, and Louisiana once more became a royal possession.
Meanwhile France itself was in sore straits for money. Louis XIV, that magnificent and extravagant monarch, had died and left his country beggared and in want. The Duke of Orleans now ruled as Regent for little Louis XV. He was at his wit's end to know where to find money, when a clever Scots adventurer names John Law came to him with a new and splendid idea. this was to use paper money instead of gold and silver. The Regent was greatly taken with the idea, and he gave Law leave to issue the paper money. It was quite a good idea had it been kept within bounds. But it was not kept within bounds. All France went mad with eagerness to get some of the paper money which was, they thought, going to make them rich forever.
Besides issuing paper money, Law started what was known as the Mississippi Scheme or Company of the Indies in 1717. Louisiana, which had been received back from Crozat, was handed over to John Law, who undertook to settle the country, and work the gold and silver mines which were supposed to be there.
Law began at once to fill all France with stories of Louisiana and its delights. Gold and silver mines, he said, had been discovered there which were so rich that they could never be used up. Lumps of gold lay about everywhere, and one might have them for the picking up. As for silver, it was so common that it had little value except to be used for paving the streets. In proof of these stories lumps of gold said to have come from Louisiana were shown in the shops of Paris.
As to the climate, it was the most perfect on earth. It was never too hot, and never too cold, but always warm and sunny. The soil was so fertile that one had but to scratch it to produce the finest crops. Delicious fruits grew everywhere, and might be gathered all the year round. The meadows were made beautiful, and the air scented, with the loveliest of flowers. In fact Louisiana was painted as an earthly paradise, where nothing the heart could desire was lacking.