Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1877-02-22
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FRENCH ASSIGNATS.

e.. ...t FRENCH ASSIGNATS. 4 '5GfsE
There are very few in this country who
have not had the story of the French assig-
mats told them in one form or another, Fbpt
very little is known of their true history. st
has been a favorite pursuit of bullion writer's
to tell the people of the United States what q
terrible fate befell France because of the vast
volume of paper money issued by the revolu
tionary government of 1889; of this currency
being forced legal tender, based on the pub,
lie credit, and of the depreciation that went
on steadily in its downward course, until the
whole system collapsed
But thanks to the labors of Stephen d
Dillaye, we have for the first time in our own
language an accurate and trustworthy account
of the money and the finances of the French
revolution. This is to be found in pamphlet
entitled "Assignats and Mandates; A True
History" published by H. G. Baird d Co.,
Philadelphia. Mr. Dillaye says that the Fl.
nances of the French revolution were founded
upon a system "of robbery, con6scation. and
hate" We will briefly summarize the facts.
"The revolutionary party was without mon.
ey. 1t must recede, or it must create the
means for its support. 1t had not funds
enough under its control to pay its expenses
for day. Credit it had none. Every opdl-
nary and extraordinary means had been ex.
hausted. Every source of revenue had been
anticipated. Hypothecation had followed by.
pothecation until there was nothing to by,
pothecate A heroic remedy was demanded,
and it was found. The Catholic church was
gorged with riches, and its lands in the hands
Of its dignitaries produced an imtnense reve-
nue-dangerous as it was claimed, alike to re-
ligious liberty and to morals. By decree
of December 2, 1889, it was declared that all
the lands ofthe clergy belonged to the State
It was summary way to acquire title to these
extensive domains; but the National Assem-
bly,, knowing that it was question of life and
death, bridged the chasm and assumed the
power. IL. .
Two weeks lster, on the 10th of December,
the Assembly reported and passed law for
the issuing Of bills of credit, called assignats
or mortgages, based upon the lands con6sca-
ted from the clergy. Four hundred millions
of francs we're 6rst authorized. A cores
ponding amount in value of these lands was
pledged for their redemption .,n., .,.<t
The Church regarded the appropriation as
sacriligious robbery. 1t was taken, as the
Abbe Maury declared, "as the thief would
take it, sabre in hand" Robbery was the
moral of the basis, and force made credit Of
the robbery. On June I, 1890, the new gov:
ernment found its funds exhausted, and a
further issue of 400, 100000 francs was at once
decreed. This proceeding convinced the clerr-
gy that the whole of their domain was DOOM
ed to be swallowed up in the gulf of revolu.
tionary experiments From that moment be-
gan the tremendous coalition of all the enc;
mics of the Republic which for years bathed
Europe IN blood aroused all the energies Of
hate and despair, and made the assignat the
central object of attack because representing
the purchasing power of military France to
equip its revolutionary government. Despite
this growing opposition,a . further issue Of 8O0,-
100000 francs was decreed, on September %,
1890, with the pledge that the amount in cir.
culation should at no time exceed 100000
600 francs. .n r.
Meantime the crusade against the assignat,
was conducted with vigor, and pamphlet at.
ter pamphlet, written by distinguished men,
was published for the purpose of urging the
assignat into discredit. As Mr.. Dillaye says,
anarchy, famine, and counter revolution
waged their furious passions against the gov.
ernment. Spectators in gain and traders
upon famine were day by day organizing in.
to action" The Church, which was then all
powerful, appealed to the religious sentiment
of the nation to sustain it. Such were the
mighty forces at work against the assignat.
But the fervor of revolutionary patriotism
was 80 strong that the assignats grew into
credit, won public favor and afforded that
moneyed instrument for purchase and for ex-
change, which is essential to the existence of
every form of government, and to society"
But counterfeting broke the assignat down.
"The clergy and the nobility" says Mr.. Dill
lave "set criminal law, honor, and every
principle of honesty at defiance, and organ
lied forgery as business, and made the pass
ing Of counterfeit assig gnats their occupation-
thus attempting by crime, by stealth, and BY
felonious and secret infamy to undermine the
credit of the assignat, deprive France of it's
resources, and overthrow the revolution In
London, alone, there were seventeen manu-
featuring establishments, with force of four
hundred men devoted to the production of
false and forged assignats !! In May, 1895, it
was found that there were in circulation To-
O00OO0000 francs of forged assignats; ''exact
in form, appearance, texture" Is it Won
der that these bits of paper deprecated 1t
was not long, as the author expresses it, be-
fore the revolution twas government meas
ured by credit, and credit hanging by the
desperate chance of bankruptcy with forgery
crying from the housetops, Beware !" The
masses began to falter in their faith, and away
tumbled the whole system, spreading ruin on
every hand. -
THE CocoANUr.-The importation Of the
cocoanut is rapidly assuming the proportions
of an important branch Of business. San
Francisco is the centre of the trade, being the
port most accessible from the Pacific islands
where the cocoanut is produced. Several fac
tories in the vicinity are engaged in grating
and putting up the meat in cans for house
hold and confectionery purposes What is