Arrest du Conseil d'Estat du Roy, concernant les Billets de Banque, les Actions de la Compagnie des Indes, le Cours des Especes, et le prix des Matieres d'Or & d'Argent. Du 5. Mars 1720

Claims Supported by This Source

1. Preamble: The King, having examined in council the current situation of the Indies Company, the Bank, and the specie in circulation, judged it necessary to unify the old shares, subscriptions (soumissions), and primes into a single type of share, and to establish a fixed ratio between shares and banknotes. The rapporteur was Controller-General of Finances Law (f3–f4).
2. Article 2: Fixes the shares of the Indies Company at 9,000 livres per share (f4).
3. Articles 3–4: Subscriptions and primes are to be brought to the Company within this month for conversion into shares. Subscriptions with four installments paid will be received at a value of 6,000 livres, old primes at 1,050 livres, and new primes at 5,000 livres, in exchange for shares at 9,000 livres per share (f4).
4. Article 5: From March 20, offices will be opened at the Bank to convert shares of the Indies Company into banknotes, and banknotes into shares, at the will of the holder (f4).

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