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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 Louisiana on the banks of the Mississippi.”

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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More on Law's Bubble from Infoplease:

  • Law's Bubble - Law's Bubble The famous Mississippi scheme, devised by John Law, for paying off the national ...
  • Dictionary of Phrase and Fable: L - Definitions, origins, and illustrative excerpts for words, phases, and literary allusions starting with "L"

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