still more, extreme necessities, such as the deceased King
experienced in the years 1707-8-9 and 10,--a hundred things, in fact,
could overthrow the bank, the allurements of which were, at once, too
great and too easy. But to add to the reality of this bank, the chimera
of the Mississippi, with its shares, its special jargon, its science (a
continual juggle for drawing money from one person to give it to
another), was to almost guarantee that these shares should at last end in
smoke (since we had neither mines, nor quarries of the philosopher's
stone), and that the few would be enriched at the expense of the many, as
in fact happened.

What hastened the fall of the bank, and of the system, was the
inconceivable prodigality of M. le Duc d'Orleans, who, without bounds,
and worse still, if it can be, without choice, could not resist the
importunities even of those whom he knew, beyond all doubt, to have been
the most opposed to him, and who were completely despicable, but gave
with open hands; and more frequently allowed money to be drawn from him
by people who laughed at him, and who were grateful only to their
effrontery. People with difficulty believe what they have seen; and
posterity will consider as a fable what we ourselves look upon as a
dream. At last, so much was given to a greedy and prodigal nation,
always covetous and in want on account of its luxury, its disorder, and
its confusion of ranks, that paper became scarce, and the mills could not
furnish enough.

It may be imagined by this, what abuse had been made of a bank,
established as a resource always ready, but which could not exist as such
without being always delicately adjusted; and above all, kept in a state
to meet the obligations it had contracted. I obtained information on
this point from Law, when he came to me on Tuesday mornings; for a long
time he played with me before admitting his embarrassments, and
complained modestly and timidly, that the Regent was ruining everything
by his extravagance. I knew from outsiders more than he thought, and it
was this that induced me to press him upon his balance-sheet. In
admitting to me, at last, although faintly, what he could no longer hide,
he assured me he should not be wanting in resources provided M. le Duc
d'Orleans left him free. That did not persuade me. Soon after, the
notes began to lose favour; then to fall into discredit, and the
discredit to become public. Then came the necessity to sust