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Details
LAW, John (1671-1729). Letter signed ('Law') to an unidentified recipient, Paris, 15 February 1720.
In French, one page, 304 x 204mm, docketed by recipient (trimmed at lower margin, just touching signature). Provenance: formerly in the collection of Lawrence M. Lande (1906-1998).
Dismissing a technical difficulty in establishing his paper currency, Law expresses confidence in the benefits it will bring to the French economy. Responding to a letter from his correspondent of 11 February, Law admits that it would certainly be difficult to establish regulated correspondences ('des correspondances reglées') for the Banque Royale in all the cities of France where trade occurs; but whether or not these correspondences are set up, the circulation [of paper currency] must be established 'and will produce all of the effects which can be desired from it' through the execution of the relevant orders of the council of state and of the Regent.
Law's visionary perception of the potential economic benefits of paper money placed him far ahead of his time. Published in Lawrence M. Lande. The Political Economy of New France as developed by John Law – Compaigne des Indes & the French and Canadian Traders (1983), p.62.
In French, one page, 304 x 204mm, docketed by recipient (trimmed at lower margin, just touching signature). Provenance: formerly in the collection of Lawrence M. Lande (1906-1998).
Dismissing a technical difficulty in establishing his paper currency, Law expresses confidence in the benefits it will bring to the French economy. Responding to a letter from his correspondent of 11 February, Law admits that it would certainly be difficult to establish regulated correspondences ('des correspondances reglées') for the Banque Royale in all the cities of France where trade occurs; but whether or not these correspondences are set up, the circulation [of paper currency] must be established 'and will produce all of the effects which can be desired from it' through the execution of the relevant orders of the council of state and of the Regent.
Law's visionary perception of the potential economic benefits of paper money placed him far ahead of his time. Published in Lawrence M. Lande. The Political Economy of New France as developed by John Law – Compaigne des Indes & the French and Canadian Traders (1983), p.62.
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