“And by what?”

“As I said, by credit.”

“Do not annoy me by things too deep, but rather suggest some definite plan, if that may be.”

“First of all, then, as I said to you years ago, we need a bank, a bank in which all the people of France shall have absolute confidence.”

“You would, then, wish a charter of some sort?”

“Only provided your Grace shall please.  I have of my own funds a half million livres or more.  This I would put into a bank of general nature, if your Grace shall please.  That should be some small guarantee of my good faith in these plans.”

“Monsieur L’as would seem to have followed play to his good fortune.”

“Never to so good fortune as when first I met your Grace,” replied Law.  “I have given to games of chance the severest thought and study.  Just as much more have I given thought and study to this enterprise which I propose now to lay before you.”

“And you ask the patent of the Crown for your bank?”

“It were better if the institution received that open endorsement.”

A slow frown settled upon the face of the other.  “That is, at the beginning, impossible, Monsieur L’as,” said the regent.  “It is you who must prove these things which you propose.”

“Let it be so, then,” said Law, with conviction.  “I make no doubt I shall obtain subscriptions for the shares.  Remember my words.  Within a few months you shall see trebled the energies of France.  Money is the only thing which we have not in France.  Why, your Grace, suppose the collectors of taxes in the South of France succeed in raising the king’s levies.  That specie must come by wheeled vehicle all the way to Paris.  Consider what loss of time is there, and consider what hindrance to the trade of the provinces from which so much specie is taken bodily, and to which it can return later only a little at a time.  Is it any wonder that usury is eating up France?  There is not money enough—­it is the one priceless thing; by which I mean only that there is not belief, not confidence, not credit enough in France.  Now, given a bank which holds the confidence of the people, and I promise the king his taxes, even as I promise to abolish usury.  You shall see money at work, money begetting money, and that begetting trade, and that producing comfort, and comfort making easier the collection of the king’s taxes.”

“By heaven! you begin to make it somewhat more plain to me.”

“One thing I beg you to observe most carefully, your Grace,” said Law, “nor must it ever be forgotten in our understanding.  The shares of this bank must have a fixed value in regard to the coin of the realm.  There must be no altering of the value of our coin.  Grant that the coin does not fluctuate, and I promise you that my bank actions, notes of the chief bank of Paris, shall soon be found better than gold or silver in the eyes of France.  Moreover, given a greater safety to foreign gold, and I promise you that too shall pour into Paris in such fashion as has never yet been seen.  Moreover, the people will follow their coin.  Paris will be the greatest capital of Europe.  This I promise you I can do.”