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Acronyms that contain the term mississippi scheme
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What does mississippi scheme mean?
- 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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"mississippi scheme." Abbreviations.com. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.abbreviations.com/mississippi%20scheme>.
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