New-York tribune., 1905-01-09
WHY THE PALAIS ROYAL?
Its Use by Ne1U Franco mericon
Syndicate Someachat Ominoue

II may be questioned whether the Trrs,., ..
man and ex-Cabinet Minister. Yves Guvot and h.
associates In the new Freneh-American svndIcata
ois@"4zed Tor the commercial invasion OF -Europa
py America on a gigantic scale are wise in select
'''s the Palais Royal at Paris their headquar-
tsrs In Europe the government ii is understoo5
oelns willing TO dispose of the Palais ROYAL In re
NUrh Tor the large which the syndicate is
AeA0y 10 pay for its acquisition For the French
people who have studied their national history can
not but recall that it at the Palas ROYAL that
'ohn Law originated. close upon two hundred years
ago that extraordinary enterprise popularity known
as the Mississippi scheme and his West Indian
company, which, endowed with privileges practi-
eaily amounting 10 sovereignty all that i'm
mense region Of North Amreica then under the flag
OF France were TO bring American trade into close
relations with France and her allies on the Con-
tinsnt
The Mississippi scheme developed into one OF the
most extraordinary bubbles in financial history
The French people went insane with the fever of
speculation For a brief period sort OF madness
possessed the entire nation. Men sold their ALL and
hastened TO Paris TO speculate; everybody seemed
10 De getting richer and no one poorer And every
thing centred around the Palais Royal where John
Law. the trusted financial adviser OF the Regent
Duke OF Orleans. reiEned supreme.
Then the bubble burst. and ruin overlook not
only the government but the whole nation. a ruin
from which the people were unable TO recover.
and which ultimately brought about the terrible
revolution in the latter part OF the century.
That palace identified in the minds of the
french people with the terribly disastrous Mis-
sissippi scheme OF two hundred years ago should
now be selected as the headquarters of another
great Franeo-Americsn enterprise is surely tempt
ING fate, and cannot fail 10 be regarded by many
as onainous in the extreme.
The Palais Royal IS a creation OF Cardinal Rich
elieu. and has played notable role in the history
his stormy minority there He conceived a hatred
Tor the place and II passed into the possession OF
the House OF Orleans and during the minority OF
King Louis XIV was the scene of some of the worst
eScesses OF the Regency Of the Duke Of Orleans.
who made many additions thereto. Throughout
theteighteenth century and during the early part
or the nineteenth century It was the centre of
Farisian life In its gardens the world OF fashion
would assemble every day, and the principal the
atres. ali the finest shops and the leading
taursnts. well as the municipal public gambling
rooms. were ali housed either beneath its immense
roof or in the adjacent buildings.
King Louise Philippe. who while Napoleon
on the throne earned his bread for a time in this
country as a school teacher. lived Duke of Or
leans in the Palais Royal from the time of the
Restoration in 1913, until 1850. when his intrigues
against his cousin and benefacto-, old King
Charles y, brought about the latter's deposition
and his accession 10 the throne. Throughout
the reign Of Napoleon III Ii was the homo Of
Prince jerome Napoleon. and il was there that his
sons. Prince Victor Napoleon the present imperial
ist pretender and chief Of the onapartist party.
well Prince Louis. cavalry general IL
the Russian army, were born.
Since the establishment of the Third Republic
however fashionable life has drifted away from the
Palais Royal. No prince any longer holds court
there, the modish restaurants have moved else
where. and 40. too, have the shops in fact neg
lected and abandoned II is falling into such decay
that unless the Franco-American syndicate OF Yves
Guyot and his American friends secure possession
thereof and put into execution their plans Of con-
Plete.v remodeIling II for its use the govern
Will be confronted by the necessity of pulling
II down and converting the site into public park,
or else OF turning IL profitable account by selling
II in building lots. The Franco-Amerlcan company,
which Is understood TO be working in connection
with the Corporate Securities Company in New
York and 70 have promises OF strong official sup
port in France. will place nothing but American
goods on sale shops: the Palais Royal is. in
one word. 70 be transformed into g. vast depot Tor
the sale OF American goods OF every conceivable
character. and for their dispersal throughout Eu-
rope The scheme includes the construction OF
huge hotel 10 be conducted American principles.
and the rebuilding OF the Palais Royal Theatre and
ia by Americans.