The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-03-02
Issues OF AssloNArs, 1880 TO l7o6.


currency specie began to make its appearance and trade
to revive The government instead of relnquishng the
issue, altered its FORM Thus assignats of their
ture mortgage the public property, which required
delay realize by sale at auction therefore
solved to for their redemption mandats" which
to be receivable for lands directly at fixed price,
say years Of its annual worth, which supposed
have been its value in 1870. This would give greater
value to the mandas than the assgnats therefore
determined to issue them the rate Of for 80
The $4,000 900 out TO be reduced to ooO
900, by forced loans and other means, which
funded in 800 100000 mandats, 800 600 900
das issued for public service making 24O0
of mandas, equivalent to 72,O0o 900 900 assignats
$l3.G00 900 OO0!! These created on the 9th
March, 1885, and in few weeks sold cents but
rose to 80 per cent but in Nov 1895 fell per cent
when the government declared they longer re-
cevable for lands except for their value and
December refused to take them at all for public Dues
they ceased to exist. Here enormous swndle
without the smallest attempt at remburng the bhold
1t necessarily involved another. The government
being deprived of paper money began calculate its re-
gular means, which were greatly deficient The public
debt under Cambon had been into annuities
These amounted to $56O0O. 600 per The direc.
tors decided to pay fourth only in money O0O
and give bonds for the balance redeemable in public
lands These became entirely unsaleabe and there
debt. This to the creditor relief, because he still
received money than when he received the whole
amo ant in assignats.
For all this terrible robbery and reputation in France
the of revolution and state necessity may with
face be pleaded. But possible paatioa can be
offered for the pat taken by Great Britain in the matter
The paper system Of France would have lasted much
longer but for the notorious forgeries of the English CO.
vernment shipoads of counterfeit assignats sent
o,JJ ;eb, IL, o-;c,~ ~ q
alist emissuries, in every part of France. This
tended more than anything to the depreciation of
the paper and the ruin Of the of the 60.
vernment The French government procured its
by issuing paper money, and directly absorbing
what wanted TO support the from the generation
then present. Tho English government did the same
thing to certain extent. It authorised the Bank
pend issue its worthless paper enacting the
time the penalties against those who attempted to
take the paper for less than its face Exchequer bills
also issued to the extent of 100000 OOO $500
but besides this 900 OO0 were add
ed to the stock debt which is the of repuda-
tion For all this horrible oppression and enormous ex
penditure whatever exists mere hate of re-
publicanism by the olgarchy prompted the measures
which kept alive by jealousy and envy of the power
OF France. The enthusiasm of the people indee
arousedby fears tina battle of Camperdewn
removed all possibility of such The was all
than his rival Robespiere. He indeed did not guillone
people, but he hanged and banshed the choicest spirits of
Ireland and the suffering of 10000 900 of starving people
for the last thirty to pay his nqutous
ney forms of human wretch far exceeding
tina. of the Reign of Terror
Even Pitt startled the atrocy of his conduct and
in Ies declared that the debt could not be increased with
out crushing the nation and that the the year
must be raised by taxation within the year but
creasng hardihood he fell again into the old system and
the people ofEngand have dug groaned and sweated
at years. in producing ESQ per annum on ESQ.,
100000 equal to 1000 900 which has been paid the
stockholders and the debt is large the
mencement of that PERIOD altho f4s6 900 or a3o
00oco all the money received from the stockho
dcrs France has long since recovered from its
while that Of England daily becoming greater In the
face Of these facts, is it ignorance insanity which
prompts the people OF the United States talk new
debts based public lands Either is 80 astonsh
ing the wonderful degree Of mpudence which prompts
the English whose has been before world
in all the characters of slave Dealers regulators tyrants
forgers, robbers-and perperatng in China the
most stupendous act of piracy and murder the world
saw-abuse the United States because they cannot pay
small debt After disCharging in full $500 100000
they escaped the rule Of blood stained cligarchy.