The Farmington times and herald. (Farmington, St. Francois Co., Mo.) 1902-1905, 1904-07-15
CHAPTER V.
DIVERS ENVIRONMENTS OF JOHN
LAW


them.
Sir" said he, 81 should be glad to
please not only friend OF Sir Arthur
Pembroke. but also gentleman OF
such parts as yourself. | hesitate to
promise"
But you must promise" said John
Law.
We'll, then, do promise Will
have this apparel at your place on the
day which you name. 'Tis most extra
ordinary, but the order shall be exc
Cuted.
Law but half heard him, for he was
already turning toward the door where
re beckoned again for his waiting
chair
ITO the offices of the Bank OF En-.
gland" he directed. And forthwith he
was again jogging through the crowded
streets of London
The offices of the Bank OF England,
to which this young adyenturer now
so nonchalantly directed his course
were then not housed In any such state
~ cdifiCe as that which now covers
the heart of the financial world, nor
did the location of the young and
struggling institution, in a by-street of
the great city, tend to give dignity TO
a concern which still lacked impor
lance and assuredness. Thithcr, then
might have gone almost any young
traveller who needed letter of credit
Dashed or bill changed after the
fashion Of the passing goldsmiths.
Yet It was not as mere transient
customer of n money changer that
young Law now sought The Bank of
England. nor was It as commercial
house that the bank then commanded
attention. That bank, young as II was
had already become a pillar Of the
throne of England. William, distract
ed by wars abroad and factions at
home. found his demands for funds
ever in excess OF the supply. More
than that, the people Of England dis.
covered themselves in possession of q
currency fuctuating, mutilated and
ull5ldbl't 81 lllhl Nv lllbh hllf" NllhA
was his actual fortune Tho shrewd
young hnancicr. Montague. chancellor
of the eXChequer. who either by wis
dom or good fortune had sanctioned
The founding Of the Bank of England
was at this very time addressing him.
self to the question of a recolnage OF
the specie Of the realm Of England
lie needed help, ne demanded ideas,
nor was he too particular whence he
obtained either the one or the other
John Law was in London on no such
blind quest as he had himself declared
He was here by the invitation, secret
yet none the less obligatory, Of Monta.
que, controller of the financial policy
OF England. And he was to meet, here
upon this fair morning. none less than
my Lord Somcrs, keeper of the seals:
uone less than Sir Isaac Newton. the
greatest mathematician of his time.
none less than John Locke. the most
leaned philosopher of the day Strong
company this, for young and unknown
man. yet in the belief Of Montague
himself n young man and n gambler
by instinct. not too strong for this
young Scotchman who had startled the
parliament of his own land by some
OF the most remarkable theories OF
finance which had ever been proposed
in any country or to any government
As Law had himself arrogantly an.
nOunCcd he was indeed philosopher
and mathematician, young as he was;
and these things Montague was him.
self keen enough to know
II promised. then, to he a strange
and interesting council. this which was
to meet to-day at the Bank of England
to adjust the value of Engand's coin.
age; two PHILOSOPHERS one pompous
trimmer and two gamblers. the young.
or and more daring Of whom was now
calmly threading the streets Of Lon
don on his way to meeting which
might mean much to him.
All those at the board looked with
some intentness AT the figure of the
young man from the North, who came
as the guest OF Montague With small
fOrmality the latter rose and advanced
TO meet Law with an eager grasp Of
the hand. lie made him known to the
others present promptly. but with a
half apology
Gentlemen" said he, Il have made
bold to ask the presence with us of o
young man who has much concerned
himself with problems such as those
which we have now in hand Sir Isaac
Newton, this is Mr.. Law Of Edinboro
Mr. Law, the fame of John Locke !
need not lay before you, and Of my
Lord Somers you need no advice. Mr.
Law, | shall pray you to be seated
Il shall but serve as your mouth
piece to the court, gentlemen" re.
sumed Montague. seating himself and
turning At once to the business OF the
lay. 1--WE are all agreed as TO the
urgency of the case. The king needs
behind him In these times q contented
people You have already seen the i'm,
minence of a popular discomfort which
may shake the throne Of England, none
too safe in these days Of change. That
we must reorganize the coinage is I'M
derstood and agreed. The question is,
how best to do this without further un.
settling the times" One after another,
he called upon each Of those present
for suggestions, leaving John Law to
the test.
MIR. Law" said Montague, "by your
leave and by the leave of these gentle
men here present, shall take the lib
erty of asking you II there doth occur
to your mind any plan by which We
may be relieved of certain Of these
difficulties. | am aware, sir. that you
are much n student in these matters.'|
grave silence fell upon all. John
Law, young, confident and arrogant
In many ways as he was, none the less
possessed soDriety and depth OF
thought, just as he possessed the e1-
ternal dignity to give II fitting vehicle
He sazed now at the men before him,
not with timorousness or trepidation
His face was grave. and he returned
their glances calmly as he rose and