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The company began their work by laboring to increase the settlement of Louisiana. A wonderful interest was awakened in France by artfully circulating reports of the gold and silver mines in the Mississippi valley. The stock of the company was soon in great demand. A company of eight hundred emigrants is shipped over and the city of New Orleans is laid out. Great expectations are awakened both in France and Louisiana of the future greatness and grandeur of the province, and for the first time the pulsations of life begin to throb vigorously in the little colony.

But the prosperity was not real. It was awakened by the financial flush, springing from the erroneous and ephemeral money theory of John Law. The financial gloom having spread over France, it extends to the colony, and the bright prospect vanishes. Louisiana is in but little better condition than when she passed into the hands of the company. The members of the company held their charter until 1733, when, wearied with their burden, surrendered it.

Though the company did not accomplish for the colony all that it and others expected, still it is entitled to credit for what it did. Under its auspices the colony had been increased to 5,000 white and 2,000 black, inhabitants—the latter having been shipped from Africa and sold for one hundred and seventy-six dollars apiece on three years credit. The vast territory had been divided into nine districts