The pleasant character-mixture of swindler and prophet. – Karl Marx
The avarice which it occasioned amongst men of all conditions, from the lowest of the vulgar to the magistrates, bishops and princes of the blood, drew off the attention of every body from the public good, and from every political and ambitious view, by filling them with the dread of losing and the thirst of gain. – Voltaire
The people of their own accord ran headlong into this folly, which enriched some families and reduced many more to beggary. – Voltaire
M. Law is cried down from jealousy. Nothing can be better conducted than his bank. He has managed to clear off the late King’s terrible debts, and has diminished the taxes, thus relieving the poor from one of their greatest miseries. Wood has become considerably cheaper. The Town tax on wine, meat, and everything coming into Paris has been abolished. All this causes great joy. – Princess Elizabeth Charlotte, mother of Philippe, Duke of Orleans
I never could understand M. Law’s system. I always believed, however, that no good would come of it. I find it difficult to hide my thoughts, so I frankly told my son. He said that I was in error, and tried to explain the thing to me ; but the more he explained, the less I could understand anything about it. – Princess Elizabeth Charlotte, mother of Philippe, Duke of Orleans
On Monday I was buying stocks,
Tuesday I was winning millions,
Wednesday I was buying horses and carriage,
Thursday I was arranging my new house,
Friday I was going to the ball,
And Saturday to the hospital. – French saying in 1720
Banks save the expense of cashiers, the expense of bags and carriage, losses by bad money, and the money is safer than in the merchants’ houses, for ’tis less liable to fire or robbery, the necessary measures being taken to prevent them…. Banks where the money is pledged equal to the credit given , are sure; for, tho’ demands are made of the whole, the bank does not fail in payment. – John Law, ‘Money and Trade Considered’ (1705)
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