World History Archive May 2016 59-69
EN_01212690_0050
![World History Archive May 2016 59-69](img/medium/arch24/dvd0350/13/EN_01212690_0050.jpg)
Editorial Use Only
10 livres tournois banknote, issued by the Banque Royale, France, 1720. In 1716, Scottish economist John Law established a bank in France. It was bought by the French government in 1718 and renamed the Banque Royale. Law also founded the Mississippi Company. However, he overvalued its assets, creating a bubble, as more and more people bought shares. shareholders demanded cash payment, leading to a run on the bank and financial chaos in France.
2016-05-17
East News
Image Asset Management
WHA_067_0050
3,88MB
48cm x 31cm by 300dpi
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