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The 1720 Financial Crisis and Bank Controversy In France
In June 1720 the Council of State confirmed a rednction of two thirds of actions and created a society for insuring interest, while public credit sagged as Law resigned, Swiss guards were deployed, and the Seal was wrested from Argenson. An urgent ordinance then ordered subjects to recall foreign funds, signaling a tightening grip on royal finances amid growing unease.
MENTIONED IN THIS ARTICLE
Society of Insurance
Council of State
Phelypeaux
Law
Dagueffau