Historedia
Episode 2 of 2

Regency Approval

When
2 May 1716
Where
Paris
Part of
Founding of the Banque Générale

The Regency Council approved Law's plan to establish a private bank in May 1716.

On 2 May 1716, the Regency Council approved a motion granting John Law the power to establish a bank. This approval followed Philippe II's earlier endorsement of Law's financial scheme, which involved taking gold deposits in return for banknotes.

Sources

  1. John Law's Bank Wikipedia, revision of 2026-09-14
  2. John Law (economist) Wikipedia, revision of 2026-09-27

Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.