John Law of Lauriston

Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc.

A. W. Wiston-Glynn

• Publisher: Science & Technology Publishing
• Year: 2025
• eBook ISBN: 9782528118573
• Topic: Social Sciences
• Subtopic: Social Science Biographies
• Index: Social Sciences

John Law of Lauriston: Financier and Statesman, Founder of the Bank of France, Originator of the Mississippi Scheme, Etc. is a comprehensive biography that delves into the extraordinary life and legacy of John Law, one of the most enigmatic and influential figures in early modern European finance. Written by Alfred Henry B. Cooper, this meticulously researched volume traces Law's journey from his Scottish origins to his meteoric rise in the courts of France, where his innovative—yet controversial—financial schemes would forever alter the course of economic history. The book explores Law's early years, marked by a scandalous duel and subsequent exile, and follows his relentless pursuit of fortune and recognition across the gambling halls and financial centers of Europe. Cooper provides a vivid account of Law's intellectual development, his fascination with monetary theory, and his bold vision for economic reform. The narrative reaches its zenith with Law's appointment as Controller General of Finances under the regency of Philippe II, Duke of Orléans, where he established the Banque Générale, the precursor to the Bank of France, and launched the infamous Mississippi Scheme—a speculative venture that captivated and ultimately devastated the French economy. Through detailed analysis and engaging storytelling, the book examines the social, political, and economic context of early 18th-century France, shedding light on the forces that enabled Law's ascent and the dramatic collapse of his system. Cooper paints a nuanced portrait of Law as both a visionary and a gambler, a man whose daring innovations laid the groundwork for modern banking and finance, yet whose ambition and hubris led to one of history's most notorious financial bubbles. Rich with historical detail, personal anecdotes, and critical insights, John Law of Lauriston is not only a biography but also a study of the interplay between genius and folly, risk and reward, in the shaping of financial institutions. It is an essential read for anyone interested in economic history, the origins of modern banking, and the enduring legacy of one of history's most fascinating financial architects.

Table of contents

• JOHN LAW OF LAURISTON
• PREFACE
• ILLUSTRATIONS.
• CONTENTS
• John Law of Lauriston
• CHAPTER II
• CHAPTER III
• CHAPTER IV
• CHAPTER V
• CHAPTER VI
• CHAPTER VII
• CHAPTER VIII
• CHAPTER IX
• CHAPTER X
• CHAPTER XI
• CHAPTER XII
• Transcriber’s Notes