Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1843-04-15

hvatIabls ms a currency, spefie began fn make
lts appearances aud trade 10 revive. The ~.
yernnont, instead Of felIngnishlne tho issa
altered iis form. Thus aaslpuats were ~
Their nature n mortgage on The public proper.
y, which required delay 10 realize by sale ~
auction. l. wss therefore resolved 10 issue
for their redemption "mandats," which we're
10 be fseisPable for lands directly. at y fixed
priee, saY ~ years Of It's annual Aerth, which
was supposed to have been It's value IN 1890
This would give b greater value TO Tho man
dats than 10 The aFslRnats II was therefore
determined to issue fletn ut tbs rate Of | to 30
assigpatg. The 10000 900, 900 out WIS TO be-
REDUCED TO "a, 0OO, 100000 by forced loans and
other means, which sum was funded in 500
UU,OfD tusndats. l.SnO. 900 900 more tnatda,s
were issued fof public service, making 2,AOO,-
0OO,0OO Of tnandafa, equivalent to r. 900, 900.
900 assteHats, or $1,000, GDO, COhll! These
were created on the n March 1896, and IN d
few weeks cold n fifteen cents, but rose TO 80
p, cent: bus IN November 1896 fell 10 8 .. Ct.
when the government declared they we're no
longer receivable except for their current Va.
lue, and in December refused to take them at
all for public dues, and they ceased 10 exist.
Here was An enormous swiudle without The
smallest attempt At reimbnftfng The b;tih6ld.
S'~ - fgf's@Hb' ~ '"FbFFss Ai''fiSi- \ ig
government being deprived Of paper money
began 10 calculate It's regular means, which
were crafty deficient. The public debt III, er
Canbon had been converted into annpifies.
These amounted 10 sss55 ,GO0, 900 per annum.
The directors decided 10 pay one fourth only
in money, ~sl3,5O0.n0O, and give bonds for the
balance, rcdeeinabIe IN public lands. These
soon became entirely unaaleAbIe, and there.
fnrs it was a reputation Of - per cent. Of The
national debt. This 10 the creditor WAS a re-
lief, beeauFe hs etili received more money
than when he received the whoIe amount IN
assignais.
For all this terrible robbery and Reputation
in France, tho excuse Of revolution and State
necessity, may with eonnc face BIO pleaded.
But no possible paIIiatien can be offered for the
part taken by Great Britain in The matter.
The paper system Of France would have last
ed much longer, but for The notorious f~orgcrica
Of the English government. Shiploads Of
counterfeit assignate we're sent over and dis
bursed in paying the English agents and roy
alist emjssaries, in every part Of France, This
tended more than anything to the depreciation
Of the paper and the ruin Of tho resources Of
the government. The French government
procured it's reaonrccs by issuing paper az
money, and directly absorbing what it wanted
to support the war from the generation then
present. The English government did The
same thing TO a certain extent. IL authorised
the bank 10 suspend by issuing it's worthless
paper, enacting al the same tine the severesf
penalties agairst those who attempted to take
paper for less than its face. Excheqrer bills
were also iss ued rothe extent OF cocoon 900,
er $30O,0 5000 bot besides this, GGOO,.
100000, or S3,0OO,0 00, 900, were added to the
stock debt. which IL now on the eve Of repu.
dtation. For all this horrible oppression and
eGormous expenditure, no excuse whatever
exists. A - ere hate Of repubiicanisfn b. the
oijgarchy prompted the measures which were
kept alive by leaIonyy and envy Of the power
Of France. The enthusiasm offhe people vas
indeed aroused by fears Of invasion. but the
battle Of Coperdown removed all possibility
OF such an event. The rest was all to crafty
the ambition Of Pitt, who was no whit better
than his rival Robespiere. He. indeed, did
not gniiIosine Peep G, but he hanged and ba-
nished the choicest spirits OF ireland, and the
differing of 2o,0O0,tN0 of starving people for
he Last thirty years, 10 pay bis Ubiquitous
waste Of money, forms a mass Of human
Rretchedness far exceeding that Of the Reign
# Terror.
Even Pitt was startled at the a~trocity OF biz
conduct, and in 1873 declared that the debt
could not be increased without crushing he
nation, and that the wants OF The year must be
raised by taxation within tie year, but with
increasing hardihood he fell again into the old
system and the people Of England have dug,
groaned and sweated for ~ years. in prcdrc-
lng 30,0Mn,GCW Fer annuln on 6lO,fG0,0OG,
equal TO 8 ,G0N,0O0,HtN. which has been paid
to the stockholders, and the debt is as large
row as at The commencement of that period,
although 4s6, 10000 or $4,000 600 was
all the money ever received from the stock
holders-FTance has long since recovered
from it's exhaustion, while that of England ia
| daily becoming greater. In The face Of these
facts, il it ignorance o. insanity which prompts
he people Of the United States te talk Of new
debts, based on public lands! Either IS not
% astonishing as the wonderful degree of I'M
Gudene' which prompts the English, whose
government has been before the world in all
he characters OF slave dealers, regulators,
| tyrants, forgers, robbers--and are DOW psr2e-