Definitions for mississippi scheme

This page provides all possible meanings and translations of the word mississippi scheme

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  1. Mississippi Scheme

    was started in France 1717 by John Law and the Government, ostensibly to develop the Mississippi basin, but really to ease the pressure on the exchequer; a company was formed and empowered to monopolise almost all the foreign trade; 624,000 shares were issued; depreciated paper currency was accepted in payment, and the national bank issued notes without stint; in 1719 the demand for shares was enormous; the nation was completely carried away; next year the crash came; the Government made every effort to save the position, but in vain; the distress was extreme, and Law had to leave the country.


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