since that in which Abraham, after
losing Sarah, bought, for ready-money, a sepulchre for her and for her
children. But Law was a man of system, and of system so deep, that
nobody ever could get to the bottom of it, though he spoke easily, well
and clearly, but with a good deal of English in his French.

He remained several years at Venice, upon very scanty means, and died
there a Catholic, having lived decently, but very humbly, wisely, and
modestly, and received with piety the last sacraments of the Church.

Thus terminates all I have to say of Law. But a painful truth remains.
I have to speak of the woful disorder in the finances which his system
led to, disorder which was not fully known until after his departure from
France. Then people saw, at last, where all the golden schemes that had
flooded upon popular credulity had borne us;--not to the smiling and
fertile shores of Prosperity and Confidence, as may be imagined; but to
the bleak rocks and dangerous sands of Ruin and Mistrust, where dull
clouds obscure the sky, and where there is no protection against the
storm.

CHAPTER CII

Not long after the flight of Law, that is to say, on Sunday, the 24th of
January, of the new year, 1721, a council was held at the Tuileries, at
four o'clock in the afternoon, principally for the purpose of examining
the state of the finances and of Law's Bank and India Company. It was,
in fact, high time to do something to diminish the overgrown disorder and
confusion everywhere reigning. For some time there had been complete
stagnation in all financial matters; the credit of the King had step by
step diminished, private fortune had become more and more uncertain. The
bag was at last empty, the cards were cast aside, the last trick was
played: The administration of the finances had passed into the hands of
La Houssaye, and his first act was to call the attention of the Regency
Council to the position of the bank and the company. We were prepared to
hear that things were in a very bad state, but we were scarcely prepared
to find that they so closely resembled utter ruin and bankruptcy.

I need not relate all that passed at this council; the substance of it is
enough. From the statement there of M. le Duc d'Orleans, it appeared
that Law had issued 1,200,000,000 livres of bank notes more than he ought
to have issued. The first 600,00,000 livres had not done much harm,
because they had been kept locked up in the bank; but