The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-01-13
THE LOOTING OF AVIATION
HISTORY OF JOHN Law, 9AMsL Err
DUELIST AND MURDERER.


Early in the Eighteenth Century He
Got Control of the French Treas
ury-Colossal swiudlinR-sucoessfu
Schemes for Deiraudiug the Public,
Compared With Which Ali the
Achievements of Modern Napoleons
of Finance Are insignificant.
j. Armoy Knor in the Neu York Herdld
The magnitude of the Panama swindle,
its story OF peculation and plumber appel
US. AS the news from Paris comes flashing
under the seas from day to day we are
shocked by the recital of the record of dis
aster. of venality and crime, of regulations
destroyed by greed and OF great names bar
tered for gold. Memories of Credit Mobilier
and the South Sea bubble como to us, and
we wonder IL, in all the history of swindling,
from the day the Israelltes spoiled the
Egyptians Of their silver and gold until
that other day memorable as Black Friday,
when gold was king and the greed of gain
brought thousands to ruin, there ever was a
scheme OF fraud as gigantic as that of the
Panama plunderers. Probably in this cent
ury there has not been anything to equal
it, but in days agone there was a scheme OF
fraudulent financiering compared with
which that of the Panama people was a
mere case of petty larceny. The name of
the chief actor in thess most gigantic finan-
cial operations was John Law.
To call this man Napoleon of finance"
would be a sort of anachronism, for he
iourished before Napoleon was known. In
his battles and victories in the field of
finance, however, his ambition, audacity
and perseverance were as those of the con-
4 - A. R-lH
mage and conquest. There was parallel
also in their disastrous ends.
ABLE TO GIVE GOULD POINTS.
In the extent Of the monetary transac-
tions of our own Napoleon of finance :"
| and oven of the late Wizard Of Wall
| Street" neither Of these men would have
| cut any thing but poor figure alongside of
John Law. He was gambler, libertine,
| O convicted murderer and an escaped con-
vict, and yet he ruled France for O time
| more surely than did the king The ma
tional treasury was in his hands. The
savings Of the poor aud the surplus of the
rich alike paid him tribute. For years all
he touched seemed TO prosper. He was
| courtsd by princes and dukes. and the
| money lenders aud bankers Of Europe
| bowed the knee before him. When he
asked the public to subscribe q sum equal
to 500 900, 600 70 one of his projects, he got
it in a day; and men literally fought for
the privilege of subscribing.
| The notes issued by bis bank were at a
premium. The people preferred them to
| the coin Of the realm. Yet this man died
an exile and a pauper. execrated by the
same people who had cheered him In the
days Of his prosperity and power.
BEGAN BORROWING EARLY.
John Law was a Scotchman, born in 1871.
His father had made a fortune as a gold
smith and had bought an estate which in
| cluded the domains,of Raudleston and Law
| riston. Young Law was brought up as
became the son OF a country gentleman of
| that time. He was educated at Edinburgh,
and when he left college was considered
| the handsomest man and the most accom~
| plished gentleman in Edinburgh. He
mastered the science OF mathematics, and
| knew all that was then known of political
economy. Before he was Of age he showed
| decided ability in matters financial and
succeeded in borrowing money from all his
| acquaintance, payment to be made when
he succeeded to the estate left him by his
father. who died when John was IA years Of
| age.
When John Law became of age Edin-
| burgh was too small for him. He went to
London, where for time he lived a very
fast life. At the green table he was a sue
| cessful plunger. He was very popular with
men, for he was a nervy loser at cards and
generous with his money when he won.
With the ladies he was said to be almost
| irresistible One of his numerous iutrigues
led to q duel between him aud man known
as Beau Wilson.
Law killed Wilson, was tried for murder
found guilty and sentenced to death. He
had influential friends, who succeeded in
having sentence suspended. Law escaped
from the kings bench prison in january,
| 1895, and fed TO the continent. He spent
the next four years in Paris Rome, Amster-
dam Genoa and Venice, where he studied
the financial and commercial customs Of
these cities.
GREATEST OF GAMBLERS.