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Scottish economist (1671–1729) known as a monetary reformer and as the originator of the 'Mississippi scheme' for the development of French territories in America. LS in French, signed “Law,” one page, 8 x 12.25, January 31, 1720. Addressed from Paris, a letter to a provincial French official, transmitting copies of a newly issued decree of the King's Council concerning the regulation of coinage and directing that it be published throughout the recipient's jurisdiction (loosely translated): “I am sending you several copies of the decree of the Council that has just been issued concerning the course of the currency, which I consider necessary for you to publish throughout the whole extent of your district, as soon as you have received it. I ask that you acknowledge receipt of this decree and inform me of its execution.” In fine condition.
Written just weeks after John Law became Controller General of Finances, this letter dates to the height of his extraordinary influence over the French economy. A Scottish-born financier who had converted to Catholicism and become a naturalized French subject in order to hold the office, Law oversaw the sweeping monetary and banking reforms that became known as the Mississippi System. Issued only months before the collapse of the Mississippi Bubble, the document originates from one of the most consequential financial experiments in modern history, when Law's paper-money policies were reshaping the French economy through the authority of the Crown.
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