Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-04-01

now seized upon the whole nation. Under the ex
citing effects Of lying reports, and the forcing effects
of government DEGREES, the shares of the Company
went rising in value, until they reached thirteen
hundred per cent. Nothing spoken OF, but
the price Of shares and the immense fortunes sudden
ly made by lucky spectators. Those whom Law
had deluded, used every means to delude others.
The most extravagant dreams were INDUCED, con.
corning the wealth TO flow in upon the Company,
from its colonies, its trade, and its various monOpo
lies 1t is true nothing as yet had been realized,
could in time be realized, from these distant
sources, even productive, but the imagnations of
spectators ever lin the advance, and their
lectures are imm ediatey converted into facts. Ly-
lag eports now flew from mouth to mouth Of sure
avenues to fortune suddealy thrown open. The more
extravagant the fable, the more readily it be
ieved To doubt, was to awaken anger, or incur
rdcule. In me Of public iniatuaion, it requires
small exercise Of courage to doubt popular fall
lacy.
adventurous and the avaricious, who hocked to it,
merely from the provinces but from neg hboring
countries. A stock exchange was established In
hoase in the Rue QuincampoiX, and became lmmedi-
ately the gather place of stock jobbers. The
change opened at seven o'clock, with the beat OF
drum and Sound Of BELL and closed at night with the
same signals. Guards were stationed at each end
OF the street. to maintain order, and exclude car.
riages and horses The whole street swarmed
throughout the day like beehive. Bargains of all
kinds were seized upon with avidity Shares of
stock passed from hand to hand, mounting in value,
knew not why. Fortunes made in mo-
ment, as if by magic and every lucky bargain
prompted those around to more desperae throw OF
the die, The fever went on reasng in intensity
as the day declined; and when the drum beat, and the
bell rang, at night to close the exchange there
EXPLANATIONS of impotence and despair, as il the
wheel of fortune had suddenly been stopped, when
about to make its luckiest evolution.
To engulf all classes in this ruinoHs vortex, Law
split the shares offty millions ofstock each into
one hundred shares thus in the splitting of lot
terry tickets accommodating the venture to the
humblest purse. Society was thus stirred up to Is
yery dreg, and advcnurers Of the lowest order hur
ried to the stock market. Ali honest, industrious
pursuits, and modest gains, were now despised.-
Wealth to be obtained instantly, without labor,
and without stint The upper classes were as base
in their venality the lower The highest and most
powerful mobiles, abandoning all generous pursuits
and lofty aims, engaged in the vile scufie for gain
They were even baser than the lower classes; for
some Of them, who were members Of the council Of
the regency, abused their station and their influence
and promoted measures by which shares while
in their hands, and they made immense profits.
The Duke de Bourbon the Prince of Cent?, the
Dukes de la Force and D'Antin were among the
fore most of these illustrious STOCKHOLDERS They
were nick-named the Mississippi Lords, and they
smiled at the ng title. In fact, the usual dis
tinctions Of society had lost their consequence
under the reign of this new passion. Rank, talent,
military fame, longer inspired Difference. All
spe ct for Others all pect, forgotten in
the msrcenary struggle of the stock-market. Even
prelaes and ecclesiastical corporations, forgetting
their true objects Of devotion, mingled among the
voiaries Of Mammon. Tn were no, behind those
w
nances suited 10 their avaricous purposes. Theo
logical decisions forthwith appeared, in which the
anathema launched by the church against usury, was
conveniently construed as not extending TO the trafc
in bank shares
The Able Dubois entered into the mysteries Of
stock jobbing with all the zeal of an apostle, aud
enriched himself by the spoils OF the creduous !;
and he continually drew large sums from Law,
considerations for his political influence. Faith
less TO his country, in the course of his gambling
speculaons he tran to Ems great amount
&c specie which had been paid into the royal trea-
sury thus contributing TO the subsequent dearih of
the pre- ious metals.
The female participated IN this sordid frenzy.
Prncesses Of the blood and ladies OF the highest mo-
bllitv were among the most rapacious OF stock
i0bbers The Regent seemed Ia have the riches Of
CrGsus AT his command, and layisbed money by hun
dreds Of tn usands upon his female relatives and Ia
vourtes as well upon bis roufs the dissolute COM
panons of bis debauches. My son writes the Re-
gents mother, in her correspondence, gave me
shares t. the amount Of two millions, which dis
tributed among my household. The King also took
several millions for his own household All the
royal family have had them all the children and
grandchildren Of France and the princes Of the
blood
sudden imitation of fancied wealth. The hereditary
palaces Of mobiles were pulled down, and rebuilt on
scale Of augmented splendour. Enterta nments were
given Of incredible cost and magn hcence. Never
before had been such display in houses, furniture,
equipages and amusements. Il his was particularly
the among persons OF the lower ranks, who bad
suddenly become possessed OF miIiions Luuicrous
anecdotes are related OF some OF these upstairs.
One, who had Just launched splendid carriage,
when about TO it for the first time, instead OF
getting in al the door, mounted, through habude, to
his accustomed place behind. Some ladies Of QUA
lity, seeing a wel-dresset woman covered with
diamonds, but whom nobody knew, alight from a
very handsome carriage, inquired who she was, OF
the footman. He replied, with n sneer Ii is a
lady who has recently tumblcd from garrett into
this carriage Mr. avs domcstics were said to
become m like manner suddenly enriched by tie
crumbs that fell from his table. His coac buian,
having made fortune, retired from his service !.
Mr. Law requested him TO procure a coachman in
his place. lie appeared the next day with two,
whom he pronounced equally good, and told Mr.
Law Take which Of them you choose, and will
take the Other =
Nor were these nopi hoEiini treated with the dis
lance and disdain they would formerly have expe.
rienc d from the naughty aristocsacy OF France.
The pride of the old nobesse had been siied by the
stronger instinct of avarice. They rather sought
the intimacy and confidence Of these lucky upstairs
and il has been observed that nobleman would
gladly take his seat at the table OF the Fortunate
lacqucy 81 yesterday in hopes of learning from him
the secret OF growing rich
Law now went about with countenance radiant
with success, and apparently dispensing wealth on
ever, side. lie is admirably skilled in all that
lates TO fnnace' writes the Duchess of Orleans,
the Regents mother, aud has put the affairs Of the
State in such GOOD order, that all tAs Kings debts
have been paid. He is so much run after, that he
has no repose night or day. A Duchess even kissed
his hand publicly liza Duchess Can do this, what
will other ladies dop
Wherever he went, his path. are told, was be-
set v sordid thrcnc, who waited 90 see him pass,
Ia ~ - Il .f .rI nnH