turned to Edinburgh in the year 1700. It is certain
that he published in that city his _Proposals and Reasons for constituting
a Council of Trade_. This pamphlet did not excite much attention.

[1] Miss Elizabeth Villiers, afterwards Countess of Orkney.

In a short time afterwards he published a project for establishing what he
called a Land-bank,[2] the notes issued by which were never to exceed
the value of the entire lands of the state, upon ordinary interest, or
were to be equal in value to the land, with the right to enter into
possession at a certain time. The project excited a good deal of
discussion in the Scottish Parliament, and a motion for the establishment
of such a bank was brought forward by a neutral party, called the
Squadrone, whom Law had interested in his favour. The Parliament
ultimately passed a resolution to the effect, that, to establish any kind
of paper credit, so as to force it to pass, was an improper expedient for
the nation.

[2] The wits of the day called it a _sand-bank_, which would
wreck the vessel of the state.

Upon the failure of this project, and of his efforts to procure a pardon
for the murder of Mr. Wilson, Law withdrew to the Continent, and resumed
his old habits of gaming. For fourteen years he continued to roam about,
in Flanders, Holland, Germany, Hungary, Italy, and France. He soon became
intimately acquainted with the extent of the trade and resources of each,
and daily more confirmed in his opinion that no country could prosper
without a paper currency. During the whole of this time he appears to have
chiefly supported himself by successful play. At every gambling-house of
note in the capitals of Europe he was known and appreciated as one better
skilled in the intricacies of chance than any other man of the day. It is
stated in the _Biographie Universelle_ that he was expelled, first from
Venice, and afterwards from Genoa, by the magistrates, who thought him a
visitor too dangerous for the youth of those cities. During his residence
in Paris he rendered himself obnoxious to D'Argenson, the
lieutenant-general of the police, by whom he was ordered to quit the
capital. This did not take place, however, before he had made the
acquaintance, in the saloons, of the Duke de Vendome, the Prince de Conti,
and of the gay Duke of Orleans, the latter of whom was destined afterwards
to exercise so much influence over his fate. The Duke of Orleans was
pleased with the