The remainder still in the hands of the public, says the arret, was to the amount of 1 169 720 540 livres, and the King declares, that the holders of them might employ them as follows:
| 1mo, In purchasing the remainder of the subscription of 25 millions of rents on the town-house of Paris, at 2½ per cent. inde | 470 000 000 | livres. | |
| 2do, In purchasing a farther sum constituted on the town-house of Paris, of 8 millions of perpetual annuities, at the rate of 2 per cent. or at the 50th penny | 00 000 000 | ||
| 3tio, In purchasing a farther sum constituted on the town-house of Paris, of 8 millions of life-rent annuities, at 4 per cent. or at the 25th penny | 100 000 000 | ||
| These sums amounted to | 970 000 000 | ||
| Sum above | 1 527 327 460 | ||
| Together | 2 497 327 460 | ||
There still remained outstanding about 200 millions of bank notes.
These were ordered to be disposed of in several different ways, mentioned in the arret of the 10th of October; which it would be needless to mention, as it would require a long explanation to make the thing understood: let it suffice that there was an outlet provided for them, which brought in between 2 and 3 per cent.
Thus we see the conclusion of the whole affair.
At the beginning, the King’s debts stood at 2000 millions capital, and 80 millions interest very ill paid.
| At the end of the scheme there had been coined of notes about | 2696 | millions. | ||
| Of which in the bank, October 10, 1720 | 707 | mil. | ||
| And paid in coin | 90 | |||
| This substracted | 797 | millions. | ||
| There remained outstanding in bank notes[[18]] | 1899 | millions. | ||
| Add to this 100 millions still due by the King to the company for the billets d’etat withdrawn in constituting the first 200,000 actions which still subsisted, and for which the company was to receive 5 per cent. | 100 | millions. | ||
| So the capital of the King’s debts remained at | 1999 | millions. | ||
| Balance gained by the whole operation | 1 | million. | ||
| Consequently there was little or no fraud as to the capital | 2000 | millions. | ||
[18]. There are, however, in France at this day, many persons who are still in possession of large sums of those notes. This makes some people believe, that all the paper was called down without any equivalent given. The reason of those notes remaining, is, that either the proprietors neglected the occasion offered by the arret of the 10th of October, or that they were in hopes that perhaps the bank might again recover its credit. They were mistaken, and the notes are lost.
Let us next examine the state of interest.
The interest at the last was,