French exploration of the Mississippi Valley led to the claim of Louisiana in 1682.37 In 1712, Antoine Crozat obtained a 15-year trade monopoly over the territory with the Compagnie de la Louisiane.37 In 1717, John Law founded the Compagnie d'Occident (Company of the West), which absorbed Crozat's company and received perpetual control of Louisiana and a 25-year monopoly on trade with France and the beaver fur trade in Canada.37 The company had the right to maintain a military force, make treaties with natives, and received French military support.37 It appointed Bienville as military commander, who founded New Orleans in 1718.37 The company was responsible for transporting 6,000 settlers and 3,000 enslaved people to the colony.49 It transported settlers, including Germans (origin of the "German Coast").37 It acquired other monopolies (tobacco, Compagnie du Sénégal) and rights (coinage, tax collection), merging with Law's bank (Banque Royale) and becoming the Compagnie des Indes (Company of the Indies) in 1719.37 Its shares were the subject of intense speculation ("Mississippi Bubble"), with prices rising from 500 to 10,000 livres between January and December 1719.49 The bubble burst in 1720, leading to the fall of shares, Law's dismissal, and the company being placed under receivership in 1721.37