Democratic Sentinel, Volume 12, Number 6, Rensselaer, Jasper County, 2 March 1888 — Louis XV. and His Paper. [ARTICLE]

Louis XV. and His Paper.

The fact of Louis XY. being a stockjobber was a somewhat unfortunate one for those who fell into his financial clutches. He operated principally in his exchange and loan transactions through M. Bertin, his banker. The latter did his master’s stock-jobbing very profitably, too, by buying on the spot good paper at six and seven per cent., according to the scarcity of money. One day he proposed to the King an operation involving several millions. “Sire,” said he to the royal speculator, “the royal bills lose a great deal in the place; their discount is now considerable ; it is the very moment to buy several millions. I am certain they will rise, and that there must follow a considerable profit to some one in a short time.” “That paper, ” replied the canny monarch, “is not to be depended on; the risk is too great.” It was his own paper of which he was talking, —Detroit Free Press.