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Aug 30, 2018 · In 1716, Law introduced the bank — the Banque Générale — and gave France its first experience with paper money. The following year, he established France’s first modern corporation — the...
Sep 5, 2020 · John Law killed a man in a duel, brought the first paper money to France, and became one of the richest people in the world. Then it all collapsed.
Apr 18, 2019 · The frail monetary foundations of the system proved Law’s undoing. Owing to the bank’s extravagant printing of banknotes in 1719, France’s money supply doubled. As a result, commodity prices started to soar and the currency collapsed on the foreign exchanges.
John Law (pronounced in French in the traditional approximation of Laws, the colloquial Scottish form of the name; [1] [2] 21 April 1671 – 21 March 1729) was a Scottish-French [3] economist who distinguished money, a means of exchange, from national wealth dependent on trade.
Sep 15, 2021 · John Law was happy: he had saved the parasitic royal court from bankruptcy; he became a courtier; his initially private “Banque Générale” became the “Banque Royale” in 1718; and more and more printed money gushed forth for the rich and powerful. Law now also became finance minister.
John Law (baptized April 21, 1671, Edinburgh, Scotland—died March 21, 1729, Venice, Italy) was a Scottish monetary reformer and originator of the “Mississippi scheme” for the development of French territories in America. Law studied mathematics, commerce, and political economy in London.
Apr 10, 2018 · However, as John Law acknowledged, France had already used paper money, and the dire memory of this earlier monetary experience featured high among the arguments of those, in government, who initially opposed the Scot's proposal to establish a bank and issue notes.
