official documents without proper examination, and trusted to others
what he should have undertaken himself. The cares inseparable from his
high office were burdensome to him; he saw that something was
necessary to be done, but he lacked the energy to do it, and had not
virtue enough to sacrifice his case and his pleasures in the attempt.
No wonder that, with this character, he listened favourably to the
mighty projects, so easy of execution, of the clever adventurer whom
he had formerly known, and whose talents he appreciated.

When Law presented himself at court, he was most cordially
received. He offered two memorials to the Regent, in which he set
forth the evils that had befallen France, owing to an insufficient
currency, at different times depreciated. He asserted that a metallic
currency, unaided by a paper money, was wholly inadequate to the wants
of a commercial country, and particularly cited the examples of Great
Britain and Holland to show the advantages of paper. He used many
sound arguments on the subject of credit, and proposed, as a means of
restoring that of France, then at so low an ebb among the nations,
that he should be allowed to set up a bank, which should have the
management of the royal revenues, and issue notes, both on that and on
landed security. He further proposed that this bank should be
administered in the King's name, but subject to the control of
commissioners, to be named by the States-General.

While these memorials were under consideration, Law translated
into French his essay on money and trade, and used every means to
extend through the nation his renown as a financier. He soon became
talked of. The confidants of the Regent spread abroad his praise, and
every one expected great things of Monsieur Lass. [The French
pronounced his name in this manner to avoid the ungallic sound, aw.