1.Previous
3.Next

Banque Générale Privée ("General Private Bank"), which soon became the Banque Royal. It was mostly funded by the government, and was one of the earliest banks to issue paper money, which he promised could be exchanged for gold. He also persuaded wealthy Parisians to invest in the Mississippi Company, a scheme for the colonization of the French territory of Louisiana. The stock of the company first soared and then collapsed in 1720, taking the bank with it. Law fled France, and wealthy Parisians

1.Previous
3.Next