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Millionaire : the philanderer, gambler, and duelist who invented modern finance

Author: Janet Gleeson
Publisher: New York, NY : Simon & Schuster, 2001.
Edition/Format:   Print book : Biography : English : 1st Touchstone edView all editions and formats
Summary:
On the death of France's most glorious king, Louis XIV, in 1715, few people benefited from the shift in power more than the intriguing financial genius from Edinburgh, John Law. Already notorious for killing a man in a duel and for acquiring a huge fortune from gambling, Law had proposed to the English monarch that a bank be established to issue paper money with the credit based on the value of land. But Queen Anne  Read more...
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Genre/Form: Biography
Additional Physical Format: Online version:
Gleeson, Janet.
Millionaire.
New York, NY : Simon & Schuster, 2001
(OCoLC)891416824
Named Person: John Law; John Law
Material Type: Biography
Document Type: Book
All Authors / Contributors: Janet Gleeson
ISBN: 068487296X 9780684872964
OCLC Number: 47444256
Notes: "A Touchstone book."
Description: 303 pages : illustrations ; 19 cm
Responsibility: Janet Gleeson.

Abstract:

On the death of France's most glorious king, Louis XIV, in 1715, few people benefited from the shift in power more than the intriguing financial genius from Edinburgh, John Law. Already notorious for killing a man in a duel and for acquiring a huge fortune from gambling, Law had proposed to the English monarch that a bank be established to issue paper money with the credit based on the value of land. But Queen Anne was not about to take advice from a gambler and felon. So, in exile in Paris, he convinced the bankrupt court of Louis XV of the value of his idea. Law soon engineered the revival of the French economy and found himself one of the most powerful men in Europe. In August 1717, he founded the Mississippi Company, and the Court granted him the right to trade in France's vast territory in America. The shareholders in his new trading company made such enormous profits that the term "millionaire" was coined to describe them. Paris was soon in a frenzy of speculation, conspiracies, and insatiable consumption. Before this first boom-and-bust cycle was complete, markets throughout Europe crashed, the mob began calling for Law's head, and his visionary ideas about what money could do were abandoned and forgotten.

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"The New York Times Book Review" Captivating...[Gleeson's] eye for sensual detail allows her to re-create vividly the opulent world of French regency society, a world whose hunger for easy wealth and Read more...

 
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