Supposed liquidation of an annuity of £100. sterling, or 2,400 livres tournois held by a foreigner before the war and yet unliquidated.
| Francs. | |
| Original Annuity | 2,400 |
| Tiers Consolidé Bons de deux Tiers | 2,400 |
The actual value of the whole, including the arreared dividends up to the present day is as follows:
| Francs. | |
| Tiers Consolidé as above, 800 francs sold at 60 francs | 9,600 |
| Bons de deux Tiers, ditto 1600 francs sold at 3 francs | 48 |
Arrears from the first year of the Republic to the fifth ditto (23d of September, 1792 to the 23d of September, 1797) are to be paid in Assignats, and are of no value.
| Arrears of the fifth and sixth years supposed to be liquidated so as to afford 25 per cent of their nominal value, about | 600 |
| Arrears in Bons for the year VII, valued at 50 per cent loss | 400 |
| Arrears of the year VIII, due in Bons, valued at 25 per cent loss | 600 |
| Arrears of the year IX, due in specie | 600 |
| Arrears of the year X, of which three months are nearly elapsed | 200 |
| Total of the principal and interest of an original annuity of 2,400 livres, reduced (according to law) to 800 | 12,248 |
| Or in sterling, circa | £500 |
I had almost forgot that you have asked me more than once for an explanation of the exact value of a modern franc. The following you may depend on as correct.
The unité monétaire is a piece of silver of the weight of five grammes, containing a tenth of alloy and nine tenths of pure silver. It is called Franc, and is subdivided into Décimes, and Centimes: its value is to that of the old livre tournois in the proportion of 81 to 80.
| Value in livres tournois. | |||
| liv. | sous. | deniers. | |
| Franc | 1 | 0 | 3 |
| Décime | 2 | 0.3 | |
| Centime | 2.43 | ||