RICHARD CANTILLON 279 and that, putting everything to the worst, you cannot be hurt in the Business.' ' The plaintiff (Lord Montgomery) explains the drift of this letter. He says that 500 ]?vres Tourno?s were pa?d upon each action, and that '1,200' means so much per cent., so that an action would, ?n Cant?]]on's opinion, ?n a short time afterwards, sell for no more than 6,000 l?vres; though then, and till the 22nd May following, they passed for 9,000. '28d.' means that a French crown would only be wortl? 28d.; though by A rr?t of 11th March preceding it December or January; would have its intended was to be worth about 50d. the next and the Herberrs thought this effect. As Cant?llon and Hughes ?ook the crown at 28d. (for which they had advanced only 18d.) Can- tillon did not doubt but that they would make a profit of 3,000 l?vres on each actaeon. ' Scaramouch w?ll brighten, and that you have the finest Game in the World to play,' meant that 'the actions and other the paper credit of France would greatly s?nk ?n value, and that darkness and m?sfortune would fall upon the people of that kingdom, whereby the sa?d partnership would be great ga?ners by reason that they had or would sell at 9,000 l?vres each' all the actions left as securities, and replace them at a cheaper rate. The Regent's A?t reducing the actions from 9,000 to 6,000 livres was dated 21 May, 1720, new st?tle. ' Ever after th?s A?r?t the actions and paper credit of France did con- tinue to s?nk ?n value, and finally became worth little or nothing.' Immediately the A?t was known ?t was communicated by Hughes to Cant?llon, whose replies are dated 15th and 19th May; but this ?s old st?tle. ' 15 May, 1720..I observe what you mention of R and L [meaning the then Regent of France and Mr. John Law] and it is plain Scaramouch begins to appear. If he continues we shall get consider- ably; and you are made in Reputation as well as Fortune.' 'London, 19 May, 1720. I could not well contain my Pleasure in the gain I suppose made by this Turn; but I told Furnese ? I did not expect it so soon, and gave him or any other now the Bank Bills are that I told you I would disinherit you if you the least Hint of our views. But 'tis reported reinstated. Be that as it will, I shall always have an Eye to the Teaster and splendid Shilling. I am surprised Mr. L--[meaning the late Mr. John Law] should say they were declared Enemies who remitted, since there was no declaration against it. I have Stock for the P s and Lady M [meaning the Princess d'Auvergne and Lady Mary Herbert], but everything is strangely risen One of his intimate friends.
