When was Louis XV born?
Louis XV of France
One economic crisis disrupted the Regency; the Scottish economist and banker John Law was named controller-general of finances. In May 1716, he opened the Banque Générale Privée ("General Private Bank"), which soon became the Banque Royal. It was mostly funded by the government, and was one of the earliest banks to issue paper money, which he promised could be exchanged for gold.[15]  He also persuaded wealthy Parisians to invest in the Mississippi Company, a scheme for the colonization of French territory of Louisiana.  The stock of the company first soared and then collapsed in 1720, taking the bank with it.  Law fled France, and wealthy Parisians became reluctant make further investments or to trust any currency but gold.[16]