FRANCE - NOTE: CINQ NOUVEAUX FRANCS VICTOR HUGO, type 1959. June 1, 1961 - SPL

John Law's System and the East India Company. Fourteen original documents representing the parable of Law's System. 1719 - 1723 A collection of edicts from the King's Council of State concerning the extraordinary progression of John Law's system. These documents attest to some of the most important institutional steps through which John Law gained complete control of French finances after the creation of the General Bank and the East India Company. The first two relate precisely to the founding of the Company and the acquisition of the right to manage the Fermes Générales, which collected most of the excise taxes in France and America. The parable of the System of Law, which ended in bankruptcy in 1720, and the measures taken to contain France's financial collapse are then documented. 1. Arrest du Conseil D'Etat du Roy, Par lequel Sa Majeste Casse & Annulle, a commencer au premier Octobre prochain, le Bail des Fermes Generales fait a Aymard Lambert, pour cinq années qui en restent à expirer ... ... du 27 Aoust 1719.Paris, Veuve Saugrain & Pierre Prault, 1719 4to; 250x200 mm. 4 pp. Headpiece. Handwritten annotation on last page. Missing on lower left corner, not affecting text, traces of use. Founding of the East India Company. With this Decree, Law acquires the right to manage, the 'Fermes Generales,' which collected most of the excise in France (about 37% of state revenue). The lease to Aymard Lambert is cancelled, who will be paid compensation of '48,500,000 livres', La Compagnie des Indes absorbs the other Colonial Companies and obtains the State Privilege on the collection of indirect taxes.At the end is Nicolas de Launay's affidavit of guarantee 'Escuyer Conseiller Secretaire du Roy, Maison Couronne de France et de ses Finances.'Wroth & Annan 701 (ediz. Imprimerie Royale, 8 p.); only two copies in the U.S. 2. Arrest du Conseil d'Etat du Roy, Pour la Prise de Possession de la Ferme Generales Unies, par la Compagnie des Indies, sous le nom d'Armand Pillavoine pour neuf Années, ... du Premier Septembre 1719.Paris, Veuve Saugrain & Pierre Prault, 1719 4to; 245x180 mm. 4 pp. Headpiece. Handwritten annotation on last page. Missing on lower left corner, not affecting text, traces of use. Leases for the Compagnie des Indes, including the 'Domaines d'Occident,' are assigned, for nine years, to Armand Pillovoine. Tax collection is transferred from A. Lambert and his Procurators and submitted to the aforementioned Pillovoine. The 'Fermes des Domaines d'Occident' collected dues within French possessions in North America, including taxes on wine, spirits and tobacco in Canada and in 'Nouvelle France'.At the end is the affidavit of guarantee of Nicolas de Launay 'Escuyer Conseiller Secretaire du Roy, Maison Couronne de France et de ses Finances.'Wroth & Annan 703, only two copies in the U.S. 3. Arrest du Conseil d'Estat du Roy, Qui Ordonne que les Commis & Employez dans les Sous-Fermes, continueront leurs Exercices ... du dix septieme Octobre 1719.Paris, Veuve Saugrain & Pierre Prault, [1719]. 4to; 260x205 mm. Pp. 3, 1 blank. Headpiece. Handwritten annotation on last page. Missing on lower left corner, not affecting text, traces of use. Very Rare. Organization of the administration of the Compagnie: tax collection officers, who were employees of A. Lambert, may continue to perform their duties without taking a new oath. At end the attestation of guarantee of Nicolas de Launay 'Escuyer Conseiller Secretaire du Roy, Maison Couronne de France et de ses Finances.'No in Wroth & Annan. 4. Arrest du conseil d'Estat du Roy, concernant les Billets de Banque, les Actions de la Compagnie des Indes, le cours des especes, & le prix des matieres d'or & d'argent. Du 5 mars 1720.Toulouse, Claude-Gilles Lecamus, [1720]. 4to; 255x180 mm. Pp. 8. Vignette xil. Handwritten annotation on last page. Missing on lower left corner, not affecting text, traces of use. Crucial phase in the adventure of John Law, founder in 1716 of the first private bank with the right to issue banknotes, then of the Compagnie d'Ouest in 1718, finally deviser of a monetary system by uniting the bank, the Company and the State, which had control of foreign trade and large enterprises in the kingdom. After a short period of activity, the imprudence of transmissions, speculative fever and competition eventually led to bankruptcy. Wroth & Annan, 778 (Ediz. Imprimerie Royale). 5. Arrest du Conseil d'Estat du Roy, qui ordonne l'execution des Arrests des 9. 18 Decembre 1717 ... et en consequence que le Recouvrement des droits d'Insinuation & Centieme Deniers ... se