BANK FAILURES IN THEORY AND HISTORY: THE GREAT DEPRESSION AND OTHER "CONTAGIOUS" EVENTS

To carry out Mr. Law s principles, and to create a borrower which might be able to borrow the notes of the bank to any amount, a trading company had previously been created under the title of the Company of ike West, To this company was conveyed the entire province of Louisi- ana, with the vast tracts claimed by France on both banks of the Missis- sippi, and hence the name of Mississippi System by which the company was commonly known. But that the borrowing might go on to an indefi- nite amount, it was necessary that the business of the borrower should be indefinitely extended, so as.

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