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, were engaged in his service or as his tenants, his commissioners lavished gifts on the tribes with whom they smoked the calumet.
But when, in 1727, a Jesuit priest arrived there, he found only thirty needy Frenchmen, who had been abandoned by their employer, and had no consolation but in the blandness of the climate and the unrivalled fertility of the soil.
The decline of Louisiana was a consequence of financial changes in France.
In January of 1719, the bank of Law became, by a
1719 Jan. 1. negotiation with the regent, the Bank of France; and a government which had almost absolute power of legislation conspired to give the widest extension to what was called credit.
Law might have regulated at his pleasure the interest of money, the value of stocks, the price of labor and of produce.
Marmontel. test between paper and specie began to rage,—the one buoyed up by despotic power, the other appealing
Chap. XXIII.} to common sense.
Within four years, a succession of de