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Aalborg Map on Though some contemporary critics found the system of official brokers old-fashioned or medieval, modern theorists do not. In the bourse, officials used an auction system to set stock prices at a level where supply equaled demand. A particular security was traded at that set price for the remainder of the session, a practice devised to minimize speculative activities. Economists John Maynard KEYNES and Leon WALRUS both used this example in their models of ideal price formation and defense of perfect competition The monopoly of the agents was briefly rescinded during the FRENCH REVOLUTION, but restored by Napoleon to help refinance French debt. Because of their close relationship with the government, the agents became major handlers of government securities, especially foreign securities, in the 19th century. Until 1914, more than half of the transactions of the bourse involved foreign countries and total foreign investment topped $14 million. While these operations were normally profitable, the French would be the chief victims of the repudiation of debt that followed the RUSSIAN REVOLUTION. Aalborg Map 2016.