WI: No Mississippi Bubble, Effects on France?

As the title says. Say the bubble never occurs or if it does, isn't half as ruinous as it was when it bursts. How would this affect both short term and long term?
 
As the title says. Say the bubble never occurs or if it does, isn't half as ruinous as it was when it bursts. How would this affect both short term and long term?

What is your PoD ?
  1. No Law system at all ?
  2. The Royal Bank notes kept the gold/silver convertibility after 1719 ?
  3. No derivative created in january 1720 ?
  4. No fusion of the Royal Bank and the India Company in february 1720 ?
  5. No artificial support of the shares price in march 1720 ?

If there is no bubble bursting in 1720, we could expect a Royal Bank working. The public debt could fin easier and less costly financing (the french public debt was not that huge compared to the British one, but its cost was far heavier). Fiscal inequalities would continue though, so it is not a magic trick allowing the Royal State to solve all its cash issues. The India Company would have a good influx of cash for the colonial enterprises. Even if Louisana itself is not so boosted, India proper could very well be the price.
 
What is your PoD ?
  1. No Law system at all ?
  2. The Royal Bank notes kept the gold/silver convertibility after 1719 ?
  3. No derivative created in january 1720 ?
  4. No fusion of the Royal Bank and the India Company in february 1720 ?
  5. No artificial support of the shares price in march 1720 ?

If there is no bubble bursting in 1720, we could expect a Royal Bank working. The public debt could fin easier and less costly financing (the french public debt was not that huge compared to the British one, but its cost was far heavier). Fiscal inequalities would continue though, so it is not a magic trick allowing the Royal State to solve all its cash issues. The India Company would have a good influx of cash for the colonial enterprises. Even if Louisana itself is not so boosted, India proper could very well be the price.

I must confess I haven't really given it much thought beyond avoiding it happening.

As to it being a panacaea to all France's fiscal woes it was never my object for it to be, but I did note that the bubble bursting retarded France's economic approach regarding financial institutions (a la Bank of England or Bank of San Carlos).
 
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