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Louis XIV's long reign and wars had nearly bankrupted the French monarchy. Rather than reduce spending, the Regency of Louis XV of France endorsed the monetary theories of Scottish financier John Law.In 1716, Law was given a charter for the Banque Royale under which the national debt was assigned to the bank in return for extraordinary privileges. Engineering By Design The Penguin Classic Crime Omnibus Engineering By Design By Jesse Colombo. Here is a list of infamous stock market crashes, economic bubbles and financial crises that have occurred throughout history. 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The Mississippi Bubble was an economic bubble in France in the early 1700s that developed in parallel with Britain’s disastrous South Sea Bubble.The mastermind behind the Mississippi Bubble was John Law, a Scottish financier, gambler and playboy who ascended into the upper echelons of French public finance through his … The Penguin Classic Crime Omnibus The Aging Body: Physiological Changes And Psychological Consequences Engineering By Design John Law (baptised 21 April 1671 – 21 March 1729) was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade. He was appointed Controller General of Finances of France under the Duke of Orleans, who served as regent for the youthful king, Louis XV.. In 1716 Law established the Banque ... 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