Book Description

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1859 edition. Excerpt: ...believed that so large an amount of property would glut. The holder of the assignats might use them as money or claim the land which they represented. As more forfeitures occurred, the issue of assignats increased. But it soon ceased to be measured by property and was enlarged according to the exigencies of the revolutionary government. The paper money fell to hah," then to a sixth part of the value of the same denomination in silver, and sinking rapidly through successive grades of decrease, silver held at last the value of one hundred and fifty times its denomination in paper. In August of 1793, 3,776 millions of francs were thus put in circulation; and virtually, the assignats became worthless. (11.) "The cupidity which it (speculation) excited among all classes of people, from the very lowest up to magistrates, bishops, and even princes, distracted all attention from public affairs, and all minds from political ambitious schemes, by filling them with the fear of losing and avidity of gain. It was a new and prodigious game in which all citizens bet, one against another. Desperate gamblers will not quit their cards to annoy the government. It happened, from a series of causes perceptible only to the most experienced and most sagacious understanding, that a system entirely chimerical created a real commerce and revived the Indian Company, formerly established, by the celebrated Colbert, and ruined by the wars. In fine, although there were many private fortunes ruined, the nation soon became more commercial and more rich. This system quickened the intelligence as civil war arouses the courage of a nation. "The fury for speculation was an epidemic disorder which spread into Holland and England. It merits the attention of...