Chapter

The Rise and Rise of the Mississippi Company, 1719

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print June 1997 | ISBN: 9780198286493
Published online November 2003 | e-ISBN: 9780191596674 | DOI: http://dx.doi.org/10.1093/019828649X.003.0014
 The Rise and Rise of the Mississippi Company, 1719

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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.

Keywords: mint; Mississippi Company; national debt; shares; speculation; takeovers; trading companies

Chapter.  12658 words.  Illustrated.

Subjects: History of Economic Thought

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