Essays On Government Control

Since the earliest settlers were never furnished with adequate food supplies, they frequently resorted to scavenging for crabs, crayfish, and seeds of wild grasses. Few farms developed along the banks of the Mississippi or along the sandy coast.Already a vast empire, the French government and its highly centralized bureaucracy disfavored policies that would have nurtured the economic independence of its colonies. Although few settlers escaped the hardships, by far the sturdiest members were those who had accompanied Iberville from Canada. In an effort to instill vitality into Louisiana, King Louis XIV granted a proprietary charter on September 14, 1712, to the merchant and nobleman, Antoine Crozat.Further, the French treasury, depleted by wars in Europe, was unable to finance adequately the Department of the Marine, which oversaw colonial operations. Louis XIV, King of France, Lettres Patentes du Roy, Qui permettent au Sieur Crozat Secretaire du Roy, de faire feul le Commerce dans toutes les Terres possedées par le Roy, & bornées par le nouveau Mexique & autres, 1712. The royal charter afforded Crozat exclusive control over all trading and commercial privileges within the colony for a 15-year period.The colony could neither be governed adequately nor profited from.Estimates placed Crozat's losses in Louisiana at just under 1 million French livres (about

Since the earliest settlers were never furnished with adequate food supplies, they frequently resorted to scavenging for crabs, crayfish, and seeds of wild grasses. Few farms developed along the banks of the Mississippi or along the sandy coast.Already a vast empire, the French government and its highly centralized bureaucracy disfavored policies that would have nurtured the economic independence of its colonies. Although few settlers escaped the hardships, by far the sturdiest members were those who had accompanied Iberville from Canada. In an effort to instill vitality into Louisiana, King Louis XIV granted a proprietary charter on September 14, 1712, to the merchant and nobleman, Antoine Crozat.Further, the French treasury, depleted by wars in Europe, was unable to finance adequately the Department of the Marine, which oversaw colonial operations. Louis XIV, King of France, Lettres Patentes du Roy, Qui permettent au Sieur Crozat Secretaire du Roy, de faire feul le Commerce dans toutes les Terres possedées par le Roy, & bornées par le nouveau Mexique & autres, 1712. The royal charter afforded Crozat exclusive control over all trading and commercial privileges within the colony for a 15-year period.The colony could neither be governed adequately nor profited from.Estimates placed Crozat's losses in Louisiana at just under 1 million French livres (about $1 billion).In September 1717 the Regent of France, Philippe, duke of Orléans, fearing that the province would again drain his country's already bankrupt treasury, placed its fortunes into the hands of John Law, a Scottish investment banker.Seeking instant fortunes, peasants and nobles from all over France jammed the Rue Quincampoix, otherwise known as "The Street of Speculators," before the offices of the Mississippi Company in Paris.

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Since the earliest settlers were never furnished with adequate food supplies, they frequently resorted to scavenging for crabs, crayfish, and seeds of wild grasses.

Few farms developed along the banks of the Mississippi or along the sandy coast.

Already a vast empire, the French government and its highly centralized bureaucracy disfavored policies that would have nurtured the economic independence of its colonies. Although few settlers escaped the hardships, by far the sturdiest members were those who had accompanied Iberville from Canada. In an effort to instill vitality into Louisiana, King Louis XIV granted a proprietary charter on September 14, 1712, to the merchant and nobleman, Antoine Crozat.

Further, the French treasury, depleted by wars in Europe, was unable to finance adequately the Department of the Marine, which oversaw colonial operations. Louis XIV, King of France, Lettres Patentes du Roy, Qui permettent au Sieur Crozat Secretaire du Roy, de faire feul le Commerce dans toutes les Terres possedées par le Roy, & bornées par le nouveau Mexique & autres, 1712. The royal charter afforded Crozat exclusive control over all trading and commercial privileges within the colony for a 15-year period.

The colony could neither be governed adequately nor profited from.

billion).In September 1717 the Regent of France, Philippe, duke of Orléans, fearing that the province would again drain his country's already bankrupt treasury, placed its fortunes into the hands of John Law, a Scottish investment banker.Seeking instant fortunes, peasants and nobles from all over France jammed the Rue Quincampoix, otherwise known as "The Street of Speculators," before the offices of the Mississippi Company in Paris.

This 1701 mapby Nicholas de Fer depicts the colony in its infant stages, a period when Louisiana's settlers were neglected by the government and left entirely to their own resources. F4 Vault : Low 251 Although all French colonies were subject to the same desperate circumstances, the Mississippi colony, as the newest in the French imperial system, fared the worst.In return he was obligated to send two ships of supplies and settlers annually and to govern the colony in accordance with French laws and customs.Unable to sustain the colony any longer, in August 1717 he petitioned the king and his ministers for release from his charter.Crozat's failure to turn Louisiana to his financial advantage once more made the colony a ward of the crown.Law cultivated a childhood talent for equations and games of chance into a career as a financier.His Company of the West, more commonly known as the Mississippi Company, was granted a 25-year proprietorship with a commercial monopoly over the colony, along lines similar to those furnished Crozat.Seeing an opportunity to simultaneously pay off the public debt and develop Louisiana by using the bank's deposits, Law also offered his company's shares to the public.The Company of the West later merged with the French East India Company and several trading concessions to form the Company of the East, which became responsible for managing the collection of revenues and taxes.Investors mortgaged estates in an effort to purchase 100-par shares of John Law's stocks, which at one point were valued at 00 apiece.Only those few who had managed to turn their stock into solid value were saved from ruin.

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