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Foreign News
December 5, 1751
The Virginia Gazette
Richmond, Williamsburg, Richmond County, Virginia
What is this article about?
In Paris, a merchant who invested 12,000 livres in annuities died shortly after, leaving his wife and daughter destitute. Duke de Richelieu brought them to King Louis XV, who graciously continued the annuity for their lives, highlighting risks of new financial schemes.
Clipping
OCR Quality
98%
Excellent
Full Text
Aug 15. By a private Letter from Paris we learn, that an eminent Burgess of that City, who had acquired about twelve Thousand Livres by his Trade, laid it out in Annuities, and died in a very few Days after leaving a Wife and Daughter in very narrow Circumstances. These poor Women being brought into the King's Presence by the Duke de Richelieu, threw themselves at his Majesty's Feet, and acquainted him with their melancholy Situation, when he was graciously pleased to order the Annuity to be continued for their joint Lives. This Charity was truly Royal but at the same Time the Case plainly shows, what terrible Effects naturally spring from encouraging this new Scheme for easing the Finances.
What sub-type of article is it?
Court News
Economic
What keywords are associated?
Paris Merchant
Royal Charity
Annuities
Financial Schemes
Duke De Richelieu
What entities or persons were involved?
Duke De Richelieu
King
Where did it happen?
Paris
Foreign News Details
Primary Location
Paris
Event Date
Aug 15
Key Persons
Duke De Richelieu
King
Outcome
king orders annuity continued for wife and daughter's joint lives
Event Details
Eminent Paris burgess invests 12,000 livres in annuities, dies soon after, leaving family in poverty. Duke de Richelieu presents them to the King, who grants continuation of annuity. Story illustrates dangers of new financial schemes.