Page:The humbugs of the world - An account of humbugs, delusions, impositions, quackeries, deceits and deceivers generally, in all ages (IA humbugsworld00barnrich).djvu/237

 would not send him some shares on his own terms, sent three wagon-loads of bills to Law’s bank, demanding specie. Law paid it, and complained to the Regent, who made him put two-thirds of it back again. A shrewd stock-gambler drew specie by small sums until he had about $200,000 in coin, and lest he should be forced to return it, he packed it in a cart, covered it with manure, put on a peasant’s disguise, and carted his fortune over the frontiers into Belgium. Some others quietly realized their means in like manner by driblets and funded them abroad.

By such means coin gradually grew very scarce, and signs of a panic appeared. The Regent tried to adjust matters by a decree that coin should be five per cent. less than paper; as much as to say, It is hereby enacted that there is a great deal more coin than than there is! This did not serve, and the Regent decreed again, that coin should be worth ten per cent. less than paper. Then he decreed that the bank must not pay more than $22 at once in specie; and, finally, by a bold stretch of his authority, he issued an edict that no person should have over $100 in coin, on pain of fine and confiscation. These odious laws made a great deal of trouble, spying, and distress, and rapidly aggravated the difficulty they were meant to cure. The price of shares in the great company began to fall steadily and rapidly. Law and the Regent began to be universally hated, cursed, and threatened. Various foolish and vain attempts were made to stay the coming ruin, by renewing the stories about Louisiana sending out a lot of conscripted laborers, ordering that all payments must be made in paper,