Paris as It Was and as It Is / A Sketch Of The French Capital, Illustrative Of The Effects Of The Revolution

by Francis William Blagdon

BONS DE TROIS QUARTS,

So called from having been issued for the purpose of reimbursing the three-fourths of the interest of the fifth and sixth years of the Republic (1797 to 1798). They are, in all respects, assimilated to the preceding stock.

COUPONS D'EMPRUNT FORCÉ.

These are the receipts given by the government to the persons who contributed to the various forced loans. This paper is likewise assimilated to the two last-mentioned species, with this difference, that it is generally considered as a less sacred claim, and is therefore liquidated with greater difficulty. The holders of these three claims are hastening the liquidation and consolidation of them, and they are evidently right in so doing.

QUARTS AU NOM ET QUART NUMÉRAIRE.

This paper is thus denominated from its having been issued for the purpose of reimbursing the fourth of the dividend of the fifth and sixth years of the Republic (1797 to 1798). It is generally thought that this very sacred claim on the government will be funded in toto.

RACHATS DE RENTE,

Is the name given to the redemption of perpetual annuities due by individuals to the government, on a privileged mortgage on landed estates; the said annuities having been issued by the government in times of great distress, for the purpose of supplying immediate and urgent events.

This paper is not only a mere government security, but is also specially mortgaged on the estates of the person who owes the annuity to the government, and who is, at any time, at liberty to redeem it at from twenty to twenty-five years purchase. Claims of this description, mortgaged on most desirable estates near the metropolis, might be obtained for less than 60 per cent; which, at the interest of five per cent, and with the additional advantage, in some instances, of the arrears of one or two years, would produce between eight and nine per cent.

Next to the Tiers Consolidé, Rachats de Rente are particularly worthy of attention; indeed, this debt is of so secure and sacred a nature, that the government has appropriated a considerable part of it to the special purpose and service of the hospitals and schools; two species of institutions which ought ever to be sheltered from all vicissitudes, and which, whatever may be the form or character of the government, must be supported and respected.