Abstract

In 1719, Law was successful in taking over all of the trading companies, the rights to the Mint, and the tax farms. He had created a giant holding company. In August 1719, he proposed taking over the totality of the French national debt. The Company's share price rose from 500 in the Spring to over 10,000 in the Autumn of 1719. Massive financial speculation took place on Rue Quincampoix.