Lot 649
[Duc d'Orléans] John Law (1671-1729) Scottish economist who was controller general of finances of France under the Duc d'Orléans, who was regent for Louis XV. Manuscript document signed ("Law"), 1 page, in French, 12¾ x 8 in. (Paris), Mar. 15, 1720. Translated, the document reads: "S.A.R. [His Royal Highness, the Duc d'Orléans] has permitted the gentlemen Couteulx, bankers in Paris, to have 3,000 livres on their premises to execute the appointments made in Paris March 15, 1720." The banking house of Le Coulteux was involved with Law's financial schemes as related in Geneviève Daridan's 1994 work: MM. Le Couteulx et Cie, banquiers à Paris: Un clan familial dans la crise du XVIII3 siècle.
Law created the first Central Bank in France and founded the Mississippi Company to support trade in the French colony of Louisiana. After initial success, financial panic followed.
Estimated Value $3,000 - 4,000.
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| Realized $2,340 |
