History, 17.10.2020 20:01, raweber

The American land was much larger than France, and the French knew little about it. Many did not even know where it was. But many had heard the rumor that this land was rich in silver and gold, the French currency. The depressed French economic environment was fertile ground for some of the monetary and economic ideas of John Law (1671–1729). Law was a Scottish financier born in Edinburgh. He was a colorful character who has been described as tall, handsome, and vain.

–"John Law and the Mississippi Bubble,"

Jon Moen

What rumor caused the French government to reconsider the value of the Louisiana colony?

Some heard that gold and silver could be found in Louisiana.

Some thought that Spain would want to buy the colony at a high price.

Some believed that there were rich reserves of oil and coal in Louisiana.

Some wondered if money could be made by trading with American Indians.

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The American land was much larger than France, and the French knew little about it. Many did not eve...