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Thursday, November 21st, 2024
the Week of Proper 28 / Ordinary 33
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Bible Encyclopedias
Mississippi Scheme

The Nuttall Encyclopedia

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Started in France 1717 by John Law and the Government, ostensibly to develop the Mississippi basin, but really to ease the pressure on the exchequer; a company was formed and empowered to monopolise almost all the foreign trade; 624,000 shares were issued; depreciated paper currency was accepted in payment, and the national bank issued notes without stint; in 1719 the demand for shares was enormous; the nation was completely carried away; next year the crash came; the Government made every effort to save the position, but in vain; the distress was extreme, and Law had to leave the country.

Bibliography Information
Wood, James, ed. Entry for 'Mississippi Scheme'. The Nuttall Encyclopedia. https://www.studylight.org/​encyclopedias/​eng/​nut/​m/mississippi-scheme.html. Frederick Warne & Co Ltd. London. 1900.
 
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