Entry
Law’s System — France’s first paper-money experiment, 1716–1720, closed by a bankruptcy
France’s first paper-money experiment: a bank of issue backed by colonial trade was to liquidate the debt left by the previous reign. Speculation carried the system away, and the bankruptcy left the country a lasting distrust of banknotes. (Editorial synthesis)
Law’s System began in 1716. (source: BnF)
Law’s System ended in 1720. (source: BnF)
Law’s System ended in paper money losing its value and the bank’s debts taken over by the state. (source: Encyclopædia Britannica)
Answers are drawn from a corpus established and verified by an editorial team; each one shows its source.
When a piece of information is not in that collection, the encyclopedia says so rather than inventing it — that principle is what makes every answer it does give trustworthy.