John Law "of Lauriston", 1720 Dated Hand Signed Holograph Letter.
Category:Coins & Paper Money / Paper Money - World Currency
Start Price:1,400.00 USD
Estimated At:2,000.00 - 4,000.00 USD
4,250.00USD+ (765.00) buyer's premium. + applicable fees & taxes.
SOLD at 2013 Jun 04 @ 03:51UTC-4 : AST/EDT
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France, August 25, 1720, 200 mm x 325 mm 1 page holograph letter hand signed by Law regarding the exchange of 200,000 Livres for 10,000 Livres banknotes. VF condition with minor toning at margins. John Law, Scottish financier and speculator; founded Banque Générale in 1716, the first bank in France which issued paper currency, was created for the development and colonization of Louisiana in 1717, called the "Mississippi Scheme", Law fled on collapse of the Scheme due to over issue of paper currency and hostile government action (ca.1720). This letter was written during the collapse of his financial empire.