FORT ORLEANS ON THE MISSOURI. 141 



April, 1 72 1, while the building of the fort was planned in France in 17 19, exe- 

 cuted the following year, and originated as follows : 



The death of Louis XIV left France with an immense public debt, a legacy 

 bequeathed by his military glory, and when the Duke of Orleans, in 1716, as 

 Regent of France, found himself at the head of the Government, the financial 

 situation of the empire had become desperate. The load of taxation required to 

 merely pay the interest on the debt was overwhelming. In fact, the crisis was 

 such that it was proposed in the Council of State to expunge the whole debt by 

 an act of national bankruptcy. It was at this time when the wisest financiers were 

 not able to .see their way through the embarrassments of the treasury that John 

 Law came forward with his panacea — the creation of a bank by which fictitious 

 capital could be produced at will. His bank was chartered in 1716 as a private 

 institution, but met with such success that it was changed in 17 18 to the Royal 

 Bank, of which he was named the Director-General. In the meantime other finan- 

 cial delusions in the shape of stock companies were inaugurated, and among them 

 ''The Western Company," afterward known as Law's Mississippi Scheme.* To 

 this company the exclusive right to trade with Louisiana for twenty-five years was 

 given, also the right of making grants of land, of levying troops, raising fortifica- 

 tions, appointing Governors of the colony and officers commanding the troops ; in 

 fact, they received almost sovereign powers over the entire Mississippi Valley. 



Among its other privileges, the company was to be absolute owner of all the 

 mines discovered, and great expectations were based on the revenues these undis- 

 covered mines were to yield. The country of the Missouris was thought to be 

 especially rich in lead and silver, and Capt. De Bourgmont, who had served 

 several years in Canada and Louisiana, but was at this time residing in France,repre- 

 sented to the directory of the company that it would be advantageous to establish 

 a fort on the Missouri river, near the tribe of Missouris, as in addition to the profit 

 that could be derived from their trade, the knowledge of the country possessed by 

 the Indians would be of great advantage to the company in their search for 

 minerals. 



The project was favorably entertained by the company, and De Bourgmont 

 was authorized to proceed to the country of the Missouris and establish the post, 

 of which he was to be the commandant. He proceeded at once to New Orleans, 

 arriving there in 1720, and upon presenting his authority to Bienville, three boat- 

 loads of provisions and other necessaries for the execution of his plan were 

 furnished him. His military force consisted of thirty soldiers, two commissioned 

 officers, and a sergeant named DuBois. To these were added several boatmen 

 and Canadian voyagers, or courier de bois, together with some traders hcensed by 

 the company. They left New Orleans in the summer of 1720, and proceeded 



*This branch of Law's financial schemes was of great benefit to Lonisiana. The resources of the country 

 were advertised with the prodigality that characterized all of his undertakings. The press teemed with publi- 

 cations on the subject, while pamphlets setting forth the great advantages the country possessed were scatttred 

 broadcast. Hundreds were induced to go to Louisiana, and the result was that the colony received an impetus 

 which it would have been long in gathering but for Law's Company. 



