John Law's Company

Common card · No. 231025

John Law's Company, founded in 1717 by Scottish economist and financier John Law, was a joint-stock company that was briefly granted the entire revenue-raising capacity of the French state. It also absorbed all previous French chartered colonial companies and was popularly known as the Compagnie du Mississippi (Mississippi Company), even though under Law's leadership its overseas operations remained secondary to its domestic financial activity. In February 1720, the company acquired John Law's Bank, which had been France's first central bank. The experiment was short-lived, and after a stock market collapse of the company's shares in the second half of 1720 (the Mississippi Bubble), the company was placed under government receivership in April 1721. It emerged from that process in 1723 as the French Indies Company, focused on what had been the overseas operations of Law's Company.

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