soon exhaust a bank, and ruin all the holders of notes, that is to say, overthrow the realm.  M. le Duc d’Orleans agreed to this; but at the same time maintained that a King would have so much interest in never meddling or allowing minister, mistress, or favourite to meddle with the bank, that this capital inconvenience was never to be feared.  Upon that we for a long time disputed without convincing each other, so that when, some few days afterwards, he proposed the bank to the regency council, I gave my opinion as I have just explained it, but with more force and at length:  and my conclusion was to reject the bank, as a bait the most fatal, in an absolute country, while in a free country it would be a very good and very wise establishment.

Few dared to be of this opinion:  the bank passed.  Duc d’Orleans cast upon me some little reproaches, but gentle, for having spoken at such length.  I based my excuses upon my belief that by duty, honour, and conscience, I ought to speak according to my persuasion, after having well thought over the matter, and explained myself sufficiently to make my opinion well understood, and the reason I had for forming it.  Immediately after, the edict was registered without difficulty at the Parliament.  This assembly sometimes knew how to please the Regent with good grace in order to turn the cold shoulder to him afterwards with more efficacy.

Some time after, to relate all at once, M. le Duc d’Orleans wished me to see Law in order that he might explain to me his plans, and asked me to do so as a favour.  I represented to him my unskilfulness in all finance matters; that Law would in vain speak a language to me of which I understood nothing, that we should both lose our time very uselessly.  I tried to back out thus, as well as I could.  The Regent several times reverted to the charge, and at last demanded my submission.  Law came then to my house.  Though there was much of the foreigner in his bearing, in his expressions, and in his accent, he expressed himself in very good terms, with much clearness and precision.  He conversed with me a long while upon his bank, which, indeed, was an excellent thing in itself, but for another country rather than for France, and with a prince less easy than the Regent.  Law had no other solutions to give me, of my two objections, than those the Regent himself had given, which did not satisfy me.  But as the affair had passed, and there was nothing now to do but well direct it, principally upon that did our conversation turn.  I made him feel as much as I could the importance of not showing such facility, that it might be abused, with a Regent so good, so easy, so open, so surrounded.  I masked as well as I could what I wished to make him understand thereupon; and I dwelt especially upon the necessity of being prepared to satisfy instantly all bearers of notes, who should demand payment:  for upon this depended the credit or the overthrow of the bank.  Law, on going out, begged me to permit him to come sometimes and talk with me; we separated mutually satisfied, at which the Regent was still more so.