em, it was found, could not be kept up. Some troops had
been embarked, and during the voyage were not treated much better than
the others. The persons already collected were set at liberty, allowed
to do what they pleased, and no more were seized. Law, regarded as the
author of these seizures, became much detested, and M. le Duc d'Orleans
repented having ever fallen in with the scheme.

The 22nd of May of this year, 1720, became celebrated by the publication
of a decree of the Council of State, concerning the shares of the Company
of the Indies (the same as that known under the name of Mississippi) and
the notes of Law's bank. This decree diminished by degrees, and from
month to month, the value of the shares and the notes, so that, by the
end of the year, that value would have been reduced one-half.

This, in the language of finance and of bankruptcy, was to turn tail with
a vengeance: and its effect, while remedying nothing, was to make people
believe that things were in a worse state than was actually the case.
Argenson, who, as we have seen, had been turned out of the finances to
make room for Law, was generally accused of suggesting this decree out of
malice, already foreseeing all the evils that must arise from it. The
uproar was general and frightful. There was not a rich person who did
not believe himself lost without resource; not a poor one who did not see
himself reduced to beggary. The Parliament, so opposed to the new money
system, did not let slip this fine opportunity. It rendered itself the
protector of the public by refusing to register the decree, and by
promptly uttering the strongest remonstrance against it. The public even
believed that to the Parliament was due the sudden revocation of the
edict, which, however, was simply caused by the universal complaining,
and the tardy discovery of the fault committed in passing it. The little
confidence in Law remaining was now radically extinguished; not an atom
of it could ever be set afloat again. Seditious writings and analytical
and reasonable pamphlets rained on all sides, and the consternation was
general.

The Parliament assembled on Monday, the 27th of May, in the morning, and
named certain of its members to go to M. le Duc d'Orleans, with
remonstrances against the decree. About noon of the same day, M. le Duc
d'Orleans sent La Vrilliere to say to the Parliament that he revoked that
decree, and that the notes would remain as before. La Vrilliere, fin