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Lot 579: COMPAGNIE DES INDES
29 October 2016
Brussels, BelgiumLive Auction
Description: 13 January 1725 PARIS. Rente Viagère de 300 Livres - Edit February 1724. black. No 572. Cat. Shakespeare CI1. The Compagnie des Indes was founded in 1664 by Colbert and was granted the state monopoly of trade with the East Indies and the Pacific. Early in the reign of Louis XV, in 1719, John Law incorporated the Compagnie des Indes and the other established trading companies, being the Senegal, the Chinese, the African and the Sainte-Domingue companies into one new entity, the Compagnie d'Occident, otherwise known as the Compagnie du Mississippi, itself founded in 1717. The whole company was renamed Compagnie des Indes. At this time there was wild speculation in the Company's shares, these rising to 4.000% of the par value, but then fell catastrophically in October 1720. Some investors had made a fortune, the majority had lost heavily and many were ruined. Nevertheless the company survived, and made three issues of rentes in the eighteenth century. This contract & certificat belong to the first issue. In 1723 the crown granted certain privileges to the Company. Among these were the tax-farm of the exclusive right to sell tobacco and coffee, and also the right to hold national lotteries. In these, certain prizes were to be in cash, and others in rentes viagères, in the form of a tontine of 28.750 names. As a name died, one-half of its interests would accrue to survivors, the other half being cancelled. Numbers were drawn in a lottery to qualify for the increase due on account of deceased lenders. This process continued at least up to the 1760's. This piece is from the first issue of Compagnie des Indes rentes known to us, and like all other issues, is very rare. Payable from the tobacco and coffee monopolies. Rarity 10.
Condition Report: VF