Page:Memoirs of Extraordinary Popular Delusions and the Madness of Crowds Vol 1.djvu/50

34 had forgotten the intrigues of an unworthy court. Law himself, and the Chevalier de Conflans, a gentleman of the regent's household, were dispatched in a post-chaise with orders to bring the ex-chancellor to Paris along with them. D'Aguesseau consented to render what assistance he could, contrary to the advice of his friends, who did not approve that he should accept any recal to office of which Law was the bearer. On his arrival in Paris, five counsellors of the parliament were admitted to confer with the Commissary of Finance; and on the 1st of June an order was published abolishing the law which made it criminal to amass coin to the amount of more than five hundred livres. Every one was permitted to have as much specie as he pleased. In order that the banknotes might be withdrawn, twenty-five millions of new notes were created, on the security of the revenues of the city of Paris, at two and a half per cent. The bank-notes withdrawn were publicly burned in front of the Hôtel de Ville. The new notes were principally of the value of ten livres each; and on the 10th of June the bank was re-opened, with a sufficiency of silver coin to give in change for them.

These measures were productive of considerable advantage. All the population of Paris hastened to the bank to get coin for their small notes: and silver becoming scarce, they were paid in copper. Very few complained that this was too heavy, although poor fellows might be continually seen toiling and sweating along the streets, laden with more than they could comfortably carry, in the shape of change for fifty livres. The crowds around the bank were so great, that hardly a day passed that some one was not pressed to death. On the 9th of July, the multitude was so dense and clamorous that the guards stationed at the entrance of the Mazarin Gardens closed the gate and refused to admit any more. The crowd became incensed, and flung stones through the railings upon the soldiers. The latter, incensed in their turn, threatened to fire upon the people. At that point one of them was hit by a stone, and, taking up his piece, he fired into the crowd. One man fell dead immediately, and another was severely wounded. It was every instant expected that a general assault would have been commenced upon the bank; but the gates of