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Details
LAW, John (1671-1729). Document signed ('Law'), Paris, 15 March 1720, authorising on behalf of the Prince Regent for the Le Couteulx bankers in Paris to hold the sum of 3,000 livres in order to issue change.
In French, half page, 323 x 204mm, on a bifolium.
Permission to a banker to hold a limited amount of money in specie: 'S[on] A[ltesse] R[oyale] a permis aux S[ieu]rs Le Couteulx Banquiers a Paris d'avoir chez Eux la Somme de trois mil livres pour faire les appoints'.
The restrictions on the use of specie were a crucial element of Law's plan to consolidate the position of paper money in the French economy.
In French, half page, 323 x 204mm, on a bifolium.
Permission to a banker to hold a limited amount of money in specie: 'S[on] A[ltesse] R[oyale] a permis aux S[ieu]rs Le Couteulx Banquiers a Paris d'avoir chez Eux la Somme de trois mil livres pour faire les appoints'.
The restrictions on the use of specie were a crucial element of Law's plan to consolidate the position of paper money in the French economy.
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