The public outcry was so violent that the Regent was obliged to withdraw the edict, as to which the council had not been consulted.

"Since Law became comptroller-general, his head has been turned," said the prince.

That same evening Law was arrested by the major of the Swiss; it was believed to be all over with him, but the admirable order in which were his books, kept by double entry after the Italian manner, as yet unknown in France, and the ingenious expedients he indicated for restoring credit, gave his partisans a moment's fresh confidence.

He ceased to be comptroller-general, but he remained director of the Bank.

The death-blow, however, had been dealt his system, for a panic terror had succeeded to the insensate enthusiasm of the early days.