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Mississippi Bubble

The French “South-Sea Scheme,” and equally disastrous. It was projected by John Law, a Scotchman, and had for its object the payment of the National Debt of France, which amounted to 208 millions sterling, on being granted the exclusive trade of Louisiana, on the banks of the Mississippi. (1717-1720.) (See South Sea.)

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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