The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-15
CHAPTER vi.
The Greatest Need.

The Greatest Need.
There sprang now with incredible swift
ness upward and outward an Aladdin
editice of illusion. 1t was as though in
deed this genius who had waved his wand
and hidden this fairy palace of chimera
to arise, had used for his material the
intangible, iridescent film of bubbles light
as air. Wider and wider spread the bal
loon Of phantaSm. Higher and higher 1t
foated. on it fixed the eyes Of France.
And France laughed and asked that yet
other bubbles should be blown.
AL France was mad, and to its mad
ness there was joined that Of all Europe.
The population Of Paris doubled. The
prices Of labor and commodities trebled
In day. There was now none willing to
be called artisan. Every man was broker
in stocks. Bubbles, bubbles, dreams,
fantasies-these were the things all car
ried In their hands and in their hearts.
These made the object Of their desire, Of
their pursuit un1maginably passionate and
frenZied.
With leap from the somberness OF
the reign of Louis, all France went to the
extreme Of levity. Costumes changed.
Manners. but late devout, grew debon-
nair. Morals, once lax, now grew yet
more lax The blaze and tinsel, the mu-
sic and the rouge, the wine, the flowing,
uncounted gold-all Paris might have
been called a golden brothel Of delirious
delight, tenanted by a people utterly gone
mad.
1t was q house made of bubbles. Its
domes were Of bubbles. Its roof was Of
bubbles, and its walls. It's windows were
of that nacreous film. Even its founda-
lions had naught in them more substan-
tial than an evanescent dream of gauze-
like web, frail as the spiders house upon
the dew-hung grasses.
Yet as to this latter, there should be
somewhat Of a qualification. The wiz
ard who created this fairy structure saw
1t swiftly grow beyond it's original plan
saw unforeseen results spring from those
causes which were first we'll within his
comprehension.
Berated by later generations as an ad-
venturer, a schemer, a charlatan, Law
originally deserved anything but such a
verdict Of his public Dishonest he was
HS. tnsincere he never was; and as
sx<ent Of fundamentals, he was in ad-
vssTce OF his age. which is ever to be
accursed. His method was but the FORE
runner Of the modern commercial sys-
tenn, which Is of itself to-day but tough
er faith bubble. as may be seen in all
the changing cycles Of finance and trade.
His bank was but a portion Of nobler
dream. His system was but one vast
belief, one glorious hope.
The Company Of the West-this 1t was
that made John Laws heart throb. Amer
ica-its trade-its futurel He saw in his
dreams what we see to-day In reality:
dllu ITO OuDDlo VI I'LL inc 1r6QE1eO 9ar1S
streets equaled this splendid dream of a
renewed and revived humanity that is a
fact to-day.
But there came to this dreamer and
doer at the very door Of his success
that which arrested him even upon his
blow which in a flash his far-seeing mind
knew was to mean ultimate ruin. In a
word, the loose principles Of dissolute
man We're to ruin France. and with it one
who had once saved France from ruin
Philippe Of Orleans found it ever diff
f1cut to say no to a friend, and more so
if that friend were a woman; and Of
the latter sort, none had more than he
Men and women alike, these could all
see only this abundance of money made
of paper. What, then, was to prevent
the regent, all powerful, from print
giving it to his friends? The re-
gent did so. Never were mistresses bet
ter paid than those Of Philippe Of Orleans,
receiving in effect faithlessness in re-
turn for insincerity
Philippe Of Orleans could not see why.
since credit based on specie made pos-
'sible great volume Of accepted notes,
credit based on all France might not
warrant an indefinite issue Of such notes
He offered his director general all the
concessions which the crown could give,
all the revenue producing elements of
France-1n effect, all France itself, as
security. In return he asked but the
small privilege Of printing for himself as
much money as he chose and whenever he
saw fit!
The notes Of the private bank OF Law
were an absolute promise to pay a Ger
tain and definite sum, not changeable or
indefinite sum; and Law made It a. part of
his published creed that any banker was
worthy Of death who issued notes without
having the specie wherewith to pay them.
He insisted that the payment should mean
specie In the value of the day on which
the note was issued This item the
regent like little, as being too irksome for