May 21, 1720. The denomination of the paper diminished by arret of council, which, in an instant, put an end to all credit, and made the bubble burst.
At this period had been coined of bank notes to the immense
| livres | |
| sum of | 2 696 400 000 |
| Of which had been issued | 2 235 083 590 |
| Remained in the bank | 461 316 410 |
Dutot, Vol. I. p. 144. Vol. II. p. 207.
May 27, 1720. The arret of the 21st of this month recalled, and the paper restored to its full denomination.
May 29, 1720. The coin raised to 82 livres 10 sols per marc.
June 3, 1720. 400,000 actions belonging to the Regent are burnt; and the 24,000 more, which were created October 4, 1719, suppressed; also 25 millions of the interest formerly granted to the company for their loan of 1600 millions, retroceded by the company, and constituted again upon the town-house of Paris.
October 10, 1720. All bank notes are ordered, by arret of this day, to be suppressed, if not brought to the bank before the 1st of December following, in order to be paid in manner therein specified.