The Mississippi Bubble by Emerson Hough
page 40 of 350 (11%)
page 40 of 350 (11%)
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properer figure of a man, nor one better clad, when I shall have done
with you, sir." Law but half heard him, for he was already turning toward the door, where he beckoned again for his waiting chair. "To the offices of the Bank of England," he directed. And forthwith he was again jogging through the crowded streets of London. The offices of the Bank of England, to which this young adventurer now so nonchalantly directed his course, were then not housed in any such stately edifice as that which now covers the heart of the financial world, nor did the location of the young and struggling institution, in a by-street of the great city, tend to give dignity to a concern which still lacked importance and assuredness. Thither, then, might have gone almost any young traveler who needed a letter of credit cashed, or a bill changed after the fashion of the passing goldsmiths. Yet it was not as mere transient customer of a money-changer that young Law now sought the Bank of England, nor was it as a commercial house that the bank then commanded attention. That bank, young as it was, had already become a pillar of the throne of England. William, distracted by wars abroad and factions at home, found his demands for funds ever in excess of the supply. More than that, the people of England discovered themselves in possession of a currency fluctuating, mutilated, and unstable, so that no man knew what was his actual fortune. The shrewd young financier, Montague, chancellor of the exchequer, who either by wisdom or good fortune had sanctioned the founding of the Bank of England, was at this very time addressing himself to the question of a recoinage of the specie of the realm of England. He needed help, he |
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