Memoir of the life of John Law of Lauriston

36 LIFE OF JOHN LAW
value in them would not have yielded in the
market more than 150 or 160 livres ; but in
the subscription they were taken at their full
value ; which could not fail to operate as : a
very tempting bait to the holders to lay them
out in the purchase of shares. The company
thus became creditors to the king in the sum
of 100 millions of livres, the annualrent of
which was fixed at the rent of 4 per cent ; the
first year's interest to be employed for com-
mercial purposes, and the annualrents of the
following years to be allotted for paying re-
gularly the "dividend, at the rate of twenty
livres per annum each share, exclusive of th Jx
proportion of the profits of the trade.*
Of this Company of the West, Mr. Law,
(who had now advanced so high in the Re-
gent's favour, that the whole ministerial power
r was reckoned to be divided among him, the
Abbe du Bois, minister for foreign affairs,
and M. d'Argenson, keeper of the seals,) was
named director general. The actions were
* Examen, i. 211. Stewart, ii. 235.