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1720 Arrêt of Louis XV on the Billets Issued by the Bank under John Law

Currency:USD Category:Coins & Paper Money Start Price:400.00 USD Estimated At:600.00 USD
1720 Arrêt of Louis XV on the Billets Issued by the Bank under John Law
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[Louis XV]. ARREST DU CONSEIL D'ESTAT DU ROY, CONCERNANT LES BILLETS DE BANQUE. Extrait des Registres du Conseil d'Estat, du onzième juin 1720. 8vo [25.5 by 20 cm], self-covered. 4 pages; woodcut headpiece. Very good. Issued on the same day as the so-called "Bubble Act," an attempt to reign in the excesses being caused by rampant speculation caused by the frenzy of trading of South Sea Company stock, this arrêt calls for the public burning of bank notes and other measures to ameliorate the chaos being caused to the French economy at this time. A highly interesting document from the peak of the John Law period.