whose financial knowledge he had most confidence, he resolved to reduce to two per cent. the interest upon all the funds. This much relieved those who paid, but terribly cut down the income of those who received, that is to say, the creditors of the state, who had lent their money at five per cent., according to the loan—and, public faith and usage, and who had hitherto peacefully enjoyed that interest. M. le Duc d'Orleans assembled at the Palais Royal several financiers of different rank, and resolved with them to pass this edict. It made much stir among the Parliament men, who refused to register it. But M. le Duc d'Orleans would not change his determination, and maintained his decree in spite of them.

By dint of turning and turning around the Mississippi, not to say of juggling with it, the desire came to establish, according to the example of the English, colonies in the vast countries beyond the seas. In order to people these colonies, persons without means of livelihood, sturdy beggars, female and male, and a quantity of public creatures were carried off. If this had been executed with discretion and discernment, with the necessary measures and precautions, it would have ensured the object proposed, and relieved Paris and the provinces of a heavy, useless, and often dangerous burthen; but in Paris and elsewhere so much violence, and even more roguery, were mixed up with it, that great murmuring was excited. Not the slightest care had been taken to provide for the subsistence of so many unfortunate people, either while in the place they were to embark from, or while on the road to reach it; by night they were shut up, with nothing to eat, in barns, or in the dry ditches of the towns they stopped in, all means of egress being forbidden them. They uttered cries which excited pity and indignation; but the alms collected for them not being sufficient, still less the little their conductors gave them, they everywhere died in frightful numbers.

[Illustration: Mississippi Colonization—Painted by C. E. Delort—1176]

This inhumanity, joined to the barbarity of the conductors, to violence of a kind unknown until this, and to the rascality of carrying off people who were not of the prescribed quality, but whom others thus got rid of by whispering a word in the ear of the conductors and greasing their palms; all these things, I say, caused so much stir, so much excitement, that the system, it was found, could not be kept up. Some troops had been embarked, and during the voyage were not treated much better than the others. The persons already collected were set at liberty, allowed to do what they pleased, and no more were seized. Law, regarded as the author of these seizures, became much detested, and M. le Duc d'Orleans repented having ever fallen in with the scheme.

The 22nd of May of this year, 1720, became celebrated by the publication of a decree of the Council of State, concerning the shares of the Company of the Indies (the same as that known under the name of Mississippi) and the notes of Law's bank. This decree diminished by degrees, and from month to month, the value of the shares and the notes, so that, by the end of the year, that value would have been reduced one-half.