Lead: Convinced he knew how to create wealth, the financier, John Law settled in Paris in 1714 and began his campaign to start a national bank.

Intro.: A Moment in Time with Dan Roberts.

Content: After years of observing the trading and banking system of early 18th Century Europe, John Law asked the Scottish Parliament if he could set up a national bank so as to issue paper money and, in his view, create wealth. They turned him down but he had better luck with the French. After seventy years on the throne, old King Louis XIV was about to die. He had made France the center of European cultural life but his wars and his extravagant lifestyle symbolized by the magnificent palace at Versailles had left France under a crushing load of debt.


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