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Koning en Koningin van de Mississippi.
Selling price: $100
Sold in 2013
John Law (1671-1729), the son of an Edinburgh banker and successful financier who established the Banque Générale in France in 1715, founded the Compagnie de l'Occident for the exploitation of the resources of French Louisiana after Antoine Crozat had surrendered his charter in 1717. Law's reputation caused the stock to sell readily. The organization soon enlarged its activities by absorbing other commercial companies, its name then being changed to the 'Company of the Indies.'
Enormous profits were anticipated...and the increasing demand for its stock led to wild speculation. The expected immense and immediate gains were not realized, and soon the scheme revealed itself as a purely speculative venture. In 1720 the company failed, the 'bubble' bust, and the stockholders lost their entire investment, many being completely ruined.
Reference: Concise Dictionary of American History, NY: Scribner's, 1962, pp.617-18).
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