e slowly, but not less surely, developing.

[FOR THE NEXT SECTION OF THIS GENERAL SURVEY SEE VOLUME XIV]

FOOTNOTES:

[1] See _Defeat of the Young Pretender at Culloden_, page 117.

[2] See _Cotton Manufacture Developed_, page 341.

[3] See _John Law Promotes the Mississippi Scheme_, page 1.

[4] See _Bursting of the South Sea Bubble_, page 22.

[5] See _Voltaire Directs European Thought from Geneva_, page 144.

[6] See _Bach Lays the Foundation of Modern Music_, page 31.

[7] See _First Modern Novel_, page 100.

[8] See _Watt Improves the Steam-engine_, page 302.

[9] See _Benjamin Franklin Experiments with Electricity_, page 130.

[10] See _Settlement of Georgia_, page 44.

[11] See _Rise of Methodism: Preaching of the Wesleys and of
Whitefield_, page 57.

[12] See _Prince Eugene Vanquishes the Turks: Siege and Battle of
Belgrad_, page 16.

[13] See _Conquests of Nadir Shah: Capture of Delhi_, page 72.

[14] _See Frederick the Great Seizes Silesia: Maria Theresa Appeals to
the Hungarians_, page 108.

[15] See _Seven Years' War: Battle of Torgau_, page 204.

[16] _See Clive Establishes British Supremacy in India: The Black Hole
of Calcutta: Battle of Plassey_, page 185.

[17] See _Braddock's Defeat_, page 163.

[18] See _Exile of the Acadian Neutrals_, page 181.

[19] See _Conquest of Canada: Victory of Wolfe at Quebec_, page 229.

[20] See _Usurpation of Catharine II in Russia_, page 250.

[21] See _First Partition of Poland_, page 313.

[22] See _Intellectual Revolt of Germany_, page 347.

[23] See _Pestalozzi's Method of Education_, page 364.

[24] See _Conspiracy of Pontiac_, page 267.

[25] See _American Colonies Oppose the Stamp Act_, page 289.

[26] See _Boston Tea Party_, page 333.

JOHN LAW PROMOTES THE MISSISSIPPI SCHEME

A.D. 1716

LOUIS ADOLPHE THIERS

Known under the various titles of the "Mississippi Scheme," the
"Mississippi Bubble," and the "System," the financial enterprise
originated by John Law, under authority of the French government,
proved to be the most disastrous experiment of the kind ever made by
a civilized state.

Louis XIV ended his long reign in 1715, leaving his throne to his
great-grandson, a child of five years, Louis XV. The impoverished
country was in the hands of a regent, Philippe, Duke of Orleans,
whose financial undertakings were all unfortunate. John Law, the son
of a Scotch banker, was an a