1727
After the Mississippi break
In 1727 Law’s notes and shares have already broken. The Bank of England’s charter still stands. The Spanish dollar is still Atlantic money. England has not stopped gold payout.
The Mississippi System broke in 1720. Share prices fell, notes lost credibility, and holders who could fled into metal. That collapse is not repeated as a new event this year. It is not the assignats of the 1790s.
The Bank of England, chartered in 1694, is still the English note issuer under the six-partner rule of 1708. Its stop on gold payout is 1797. Amsterdam’s agio does not collapse until the lending becomes public in the 1780s. Spanish dollars remain common money in the Caribbean and British North America.