I shall be able to tell a good many curious particulars concerning the state of affairs here, which are not so very proper to be put into a letter. Mr. Law still brags that he will make our stocks humble, by withdrawing the French effects. He seems more bent than ever to do us mischief, believing it the only way he has left to save himself and his system. How far he may be able to draw his master into his notions, God knows. His master professes the best intentions imaginable. In the meantime they go on with the new levies with all the application imaginable; and I am assured they are giving out commissions for levying some more German regiments in Alsace. All over France they talk of a war with Britain, and the Jacobites are in greater numbers at Paris, and more insolent. They talk of great changes at this court; and that the Archbishop of Cambray is to be sent to his diocese. Law’s friends give out that he has more credit than ever at the Palace Royal. That may be; but I dare swear he has lost a great part of his master’s good opinion, though, at the same time, he is very unwilling to renounce the fine views Law had given him. I think we have nothing to fear from France at present but by surprise; but, in my opinion, it will behove us to be very attentive against something of that kind. It is plain the Jacobites have their heads filled with some such notion.
As soon as Sir Robert arrives, I shall certainly set out and leave some friends to take the best care they can to my effects.”
Thus was brought to a close an embassy which offered at its outset so bright promises, but which ended in virtual disgrace. It is very questionable if any other result could have been possible. Lord Stair possessed all the necessary qualifications for a successful ambassador, and his failure can hardly be said to have been due to want either of ability or of tact. Rather was it due to the integrity of his motives and to the high estimate he had of his office. Had he yielded to the temptation which Law set before him to enrich himself by speculation in Mississippi stock, his difference with him might never have originated, and his mission might have had a happy ending. But it is futile to speculate on probable consequences had events been other than they really were. On the other hand it is a tribute to Lord Stair’s foresight that he always predicted the downfall of Law’s schemes, and this he did even when they were at the height of their prosperity and gave every indication of probable success.