Law’s Bubble
. The famous Mississippi scheme, devised by John Law, for paying off the national debt of France (1716–1720). By this “French South-Sea Bubble” the nation was almost ruined. It was called Mississippi because the company was granted the “exclusive trade of Louisiaʹna on the banks of the Mississippi.”
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Entry taken from
Dictionary of Phrase and Fable,
edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.