41(return)[ Von Sybel, vol. i, pp. 509, 510, 515; also Villeneuve Bargemont, "Histoire de l'Economie Politique," vol. ii, p. 213.]
42(return)[ As to the purchasing power of money at that time, see Arthur Young, "Travels in France during the Years 1787, 1788 and 1789." For notices of the small currency with examples of satirical verses written regarding it, see Challamel, "Les français sous la Révolution," pp. 307, 308. See also Mercier, "Le Nouveau Paris," edition of 1800, chapter ccv., entitled "Parchemin Monnaie." A series of these petty notes will be found in the White collection of the Cornell University Library. They are very dirty and much worn, but being printed on parchment, remain perfectly legible. For issue of quarter-"sou" pieces see Levasseur, p. 180.]
43(return)[ See Levasseur, vol. i, p. 176.]
44(return)[ For Chaumette's brilliant display of fictitious reasons for the decline see Thiers, Shoberl's translation, published by Bentley, vol. iii, p. 248.]
45(return)[ For these fluctuations, see Caron, as above, p. 387.]
46(return)[ One of the Forced Loan certificates will be found in the White Collection in the Library of Cornell University.]
47(return)[ For details of these transactions, see Levasseur, as above, vol. i, chap. 6, pp. 181, et seq. Original specimens of these notes, bearing the portrait of Louis XVI will be found in the Cornell University Library (White Collection) and for the whole series perfectly photographed in the same collection, Dewarmin, "Cent ans de numismatique française," vol. i, pp. 143-165.]
48(return)[ For statements showing the distress and disorder that forced the Convention to establish the "Maximum" see Levasseur, vol. i, pp. 188-193.]
49(return)[ See Levasseur, as above, vol. i, pp. 195-225.]
50(return)[ See specimens of these tickets in the White Collection in the Cornell Library.]
51(return)[ For these condemnations to the guillotine see the officially published trials and also the lists of the condemned, in the White Collection, also the lists given daily in the "Moniteur." For the spy system, see Levasseur, vol. i, p. 194.]
52(return)[ See Levasseur, as above, vol. i, p. 186. For an argument to show that the Convention was led into this Draconian legislation, not by necessity, but by its despotic tendencies, see Von Sybel's "History of the French Revolution," vol. iii, pp. 11, 12. For general statements of theories underlying the "Maximum," see Thiers; for a very interesting picture, by an eye-witness, of the absurdities and miseries it caused, see Mercier, "Nouveau Paris," edition of 1800, chapter XLIV.]
53(return)[ For a summary of the report of the Committee, with list of articles embraced under it, and for various interesting details, see Villeneuve Bargemont, "Histoire de l'Economie Politique," vol. ii, pp. 213-239; also Levasseur, as above. For curious examples of severe penalties for very slight infringements on the law on the subject, see Louis Blanc, "Histoire de la Révolution française," tome x, p. 144. For Louis XIVth's claim see "Memoirs of Louis XIV for the Instruction of the Dauphin."]
For a simple exposition of the way in which the exercise of this power became simply confiscation of all private property in France, see Mallet Du Pan's "Memoirs," London, 1852, vol. ii, p. 14.]
54(return)[ See Du Pont's arguments, as given by Levasseur.]
55(return)[ Louis Blanc calls attention to this very fact in showing the superiority of the Frenchassignatsto the old American Continental currency, See his "Histoire de la Révolution française," tome xii, p. 98.]
56(return)[ See Sumner, as above, p. 220.]
57(return)[ See Levasseur, as above, vol. i, p. 178.]
58(return)[ See Cambon's "Report," Aug. 15, 1793, pp. 49-60; also, "Decree of Aug. 24, 1793," sec. 31, chapters XCVI-CIII. Also, "Tableaux de la dépréciation de papier monnaie dans le department de la Seine."]
59(return)[ For the example of Metz and other authorities, see Levasseur, as above, vol. i, p. 180.]
60(return)[ See Von Sybel, vol. iii, p. 173.]
61(return)[ See Thiers; also, for curious details of measures taken to compel farmers and merchants, see Senior, Lectures on "Results of Paper Money," pp. 86, 87.]
62(return)[ See Von Sybel, vol. iv, p. 231.]
63(return)[ See Von Sybel, vol. iv, p. 330; also tables of depreciation in "Moniteur"; also official reports in the White Collection; also Caron's "Tables," etc.]
64(return)[ For a lifelike sketch of the way in which these exchanges ofassignatsfor valuable property went on at periods of the rapid depreciation of paper, see Challamel, "Les français sous la Révolution," p. 309; also Say, "Economic Politique."]
65(return)[ For a very complete table of the depreciation from day to day, see "Supplement to the Moniteur" of October 2, 1797; also Caron, as above. For the market prices of thelouis d'orat the first of every month, as the collapse approached, see Montgaillard. See also "Official Lists" in the White Collection. For a table showing the steady rise of the franc in gold during a single week, from 251 to 280francs, see Dewarmin, as above, vol. i, p. 136.]
66(return)[ See "Mèmoires de Thibaudeau," vol. ii, p. 26, also Mercier, "Lo Nouveau Paris," vol. ii, p. 90; for curious example of the scales of depreciation see the White Collection. See also extended table of comparative values in 1790 and 1795. See Levasseur, as above, vol. i, pp. 223-4.]
67(return)[ For a striking similar case in our own country, see Sumner, "History of American Currency," p. 47.]
68(return)[ See Villeneuve Bargemont, "Histoire de l'économie politique," vol. ii, p. 229.]
69(return)[ See Von Sybel, vol. iv, pp. 337, 338. See also for confirmation Challamel, "Histoire Musée," vol. ii, p. 179. For a thoughtful statement of the reasons why such paper was not invested in lands by men of moderate means, and workingmen, see Mill, "Political Economy," vol. ii, pp. 81, 82.]
70(return)[ See Von Sybel, vol. iv, p. 222.]
71(return)[ See especially Levasseur, "Histoire des classes ouvrières," etc. vol. i, pp. 219, 230 and elsewhere; also De Nervo, "Finance française," p. 280; also Stourm, as already cited. The exact amount ofassignatsin circulation at the final suppression is given by Dowarmin, (vol. i, p. 189), as 39,999,945,428livresorfrancs.]
72(return)[ For details of the mandat system very thoroughly given, see Thiers' "History of the French Revolution," Bentley's edition, vol. iv, pp. 410-412. For the issue ofassignatsandmandatsat the same time, see Dewarmin, vol. i, p. 136; also Levasseur, vol. i, pp. 230-257. For an account of "new tenor bills" in America and their failure in 1737, see Summer, pp. 27-31; for their failure in 1781, see Morse, "Life of Alexander Hamilton," vol. i, pp. 86, 87. For similar failure in Austria, see Summer, p. 314.]
73(return)[ See Marchant, "Lettre aux gens de bonne foi."]
74(return)[ See Summer, p. 44; also De Nervo, "Finances françaises," p. 282.]
75(return)[ See De Nervo, "Finances françaises," p. 282; also Levasseur, vol. i, p. 236 et seq.]
76(return)[ See Table from "Gazette de France" and extracts from other sources in Levasseur, vol. i, pp. 223-4.]
77(return)[ Among the many striking accounts of the debasing effects of "inflation" upon France under the Directory perhaps the best is that of Lacretelle, vol. xiii, pp. 32-36. For similar effect, produced by the same cause in our own country in 1819, see statement from Niles' "Register," in Sumner, p. 80. For the jumble of families reduced to beggary with families lifted into sudden wealth and for the mass of folly and misery thus mingled, see Levassour, vol. i, p. 237.]
78(return)[ For Madame Tallien and luxury of the stock-gambler classes, see Challamel, "Les français sous la Révolution," pp. 30, 33; also De Goncourt, "Les français sous le Directoire." Regarding the outburst of vice in Paris and the demoralization of the police, see Levasseur, as above.]
79(return)[ See Levasseur, Vol. i, p. 237, et seq.]
80(return)[ For specimens of counterfeitassignats, see the White Collection in the Cornell University Library, but for the great series of various issues of them in fac-simile, also for detective warnings and attempted descriptions of many varieties of them, and for the history of their Issue, see especially Dewarmin, vol. i, pp. 152-161. For photographic copies of Royalistassignats, etc., see also Dewarmin, ibid., pp. 192-197, etc. For a photograph of probably the last of the Royalist notes ever issued, bearing the words "Pro Deo, pro Rege, pro Patria" and "Armée Catholique et Royale" with the date 1799, and for the sum of 100livres, see Dewarmin, vol. i, p. 204.]
81(return)[ For similar expectation of a "shock," which did not occur, at the resumption of specie payments in Massachusetts, see Sumner, "History of American Currency," p. 34.]
82(return)[ See Thiers.]
83(return)[ See Levasseur, vol. i, p. 246.]
84(return)[ For examples of similar effects in Russia, Austria and Denmark, see Storch, "Economie Politique," vol. iv; for similar effects in the United States, see Gouge, "Paper Money and Banking in the United States," also Summer, "History of American Currency." For working out of the same principles in England, depicted in a masterly way, see Macaulay, "History of England," chap. xxi; and for curious exhibition of the same causes producing same results in ancient Greece, see a curious quotation by Macaulay in same chapter.]
85(return)[ For parallel cases in the early history of our own country, see Sumner, p. 21, and elsewhere.]
86(return)[ For a review of some of these attempts, with eloquent statement of their evil results, see "Mémoires de Durand de Maillane," pp. 166-169.]
87(return)[ For similar effect of inflated currency in enervating and undermining trade, husbandry, manufactures and morals in our own country, see Daniel Webster, cited in Sumner, pp. 45-50. For similar effects in other countries, see Senior, Storch, Macaulay and others already cited.]
88(return)[ For facts regarding French finance under Napoleon I am indebted to Hon. David A. Wells. For more recent triumphs of financial commonsense in France, see Bonnet's articles, translated by the late George Walker, Esq. For general subject, see Levasseur.]