Question

The American land was much larger than France, and the French knew little about it. Many did not even know where it was. But many had heard the rumor that this land was rich in silver and gold, the French currency.

The depressed French economic environment was fertile ground for some of the monetary and economic ideas of John Law (1671–1729). Law was a Scottish financier born in Edinburgh. He was a colorful character who has been described as tall, handsome, and vain.


–"John Law and the Mississippi Bubble,"

Jon Moen


What rumor caused the French government to reconsider the value of the Louisiana colony?


Some heard that gold and silver could be found in Louisiana.

Some thought that Spain would want to buy the colony at a high price.

Some believed that there were rich reserves of oil and coal in Louisiana.

Some wondered if money could be made by trading with American Indians.

Answer 1

a

Step-by-step explanation:

Answer 2

Some heard that gold and silver could be found in Louisiana.

Step-by-step explanation:

Jon Moen's "John Law and the Mississippi Bubble" is an article that deals with the historical events of when John Law consolidated the trading companies in Louisiana and made it into a monopoly resulting in what is now known as the Mississippi Bubble. This event in history ended in a financial disaster for all involved.

According to the given excerpt, the writer mentioned how the French did not have any idea about where America was but have "heard the rumor that this land was rich in silver and gold" which captured their attention. This rumor led the French to reconsider the value of the American colony of Louisiana.

Thus, the correct answer is the first option.