hide Sorting

You can sort these results in two ways:

By entity
Chronological order for dates, alphabetical order for places and people.
By position (current method)
As the entities appear in the document.

You are currently sorting in ascending order. Sort in descending order.

hide Most Frequent Entities

The entities that appear most frequently in this document are shown below.

Entity Max. Freq Min. Freq
Mexico (Mexico, Mexico) 20 0 Browse Search
France (France) 18 0 Browse Search
F. H. Pierpont 15 1 Browse Search
T. H. Ellett 14 0 Browse Search
Alfred Tolleson 13 1 Browse Search
William R. Jones 10 0 Browse Search
F. Zantzinger 10 0 Browse Search
United States (United States) 10 0 Browse Search
D. C. Crowell 10 0 Browse Search
W. W. Wing 9 1 Browse Search
View all entities in this document...

Browsing named entities in a specific section of The Daily Dispatch: September 5, 1863., [Electronic resource]. Search the whole document.

Found 25 total hits in 12 results.

1 2
France (France) (search for this): article 1
We shall endeavor in this article to give a short history of the rise, progress, and catastrophe of the paper issued by the several revolutionary Governments of France, between the years 1790 and 1797, as illustrating more completely than any other event in history the dangers of an inflated currency, and the absolute necessity f some means, more stringent than any which have yet been applied, be not adopted to retire the superfluous portion of this enormous circulation. The debt of France in 1787 was about three milliards of francs, or about $600,000,000. The deplorable state of the finances, and the inability of the Government to pay the interest totally inadequate to the purpose. The printing press, once set to going, could never be stopped. We trust that some means, more effectual than any yet tried, may be devised to stop any further issues, and to bring in the greater part of the outstanding notes. Otherwise we see, from the example of France, what we may expect.
have been lately published by officers high in the favor of the Government and the estimation of the country, upon the subject of our financial condition. We allude of course to the letters of Mr. Memminger to Mr. Hunter, and the statement of Mr. Tyler, Register of the Treasury. Mr. Memminger tells Mr. Hunter that $150,000,000 currency is as much as the whole Confederacy on both sides of the Mississippi can bear, (not as much as it requires, observe, but as much as it can stand up under;) thncy is $392,000,000 and a fraction, being double as much as the whole Confederacy, including the States west of the Mississippi is capable of enduring. The whole currency on both sides of the Mississippi he therefore estimates at $452,000,000. Mr. Tyler makes a larger estimate than Mr. Memminger, stating the amount of Treasury notes heretofore issued at $624,000,000, and the outstanding circulation at $497,000,000, after deducting $126,000,000, which have been funded, and about a million more
During the Reign of Terror, which lasted but eighteen months, paper of the nominal value of seven milliards and a half of francs ($1,500,000,000) was issued. The farmers were all ruined by the maximum. Every man was afraid of the paper money, and as fast as he accumulated it passed it to the Government, and took real estate in exchange. In this way half the landed property of the kingdom changed hands. By the time of the overthrow of Robespierre, the currency had fallen so low that General Pichegru commuted his pay, which was nominally 4,000 francs, or $800 a month, for $40; and General Hoche, at the head of an army of 100,000 men, wrote to the Directory to beg that they would send him a horse, for he had none, and could not buy one with the paper money. At last, in 1797, when the public debt had reached fifty millions of francs, or about $10,000,000,000 a decree of national bankruptcy was passed — that is to say, the whole debt was repudiated. We have taken the pains to wri
tcy. Three most important papers have been lately published by officers high in the favor of the Government and the estimation of the country, upon the subject of our financial condition. We allude of course to the letters of Mr. Memminger to Mr. Hunter, and the statement of Mr. Tyler, Register of the Treasury. Mr. Memminger tells Mr. Hunter that $150,000,000 currency is as much as the whole Confederacy on both sides of the Mississippi can bear, (not as much as it requires, observe, but as muMr. Hunter that $150,000,000 currency is as much as the whole Confederacy on both sides of the Mississippi can bear, (not as much as it requires, observe, but as much as it can stand up under;) that he has set that sam afloat in the countries west of the Mississippi, (that is, he has given them a currency whose volume is equal to the capacity of endurance possessed by the whole Confederacy;) that on this side of the Mississippi the currency is $392,000,000 and a fraction, being double as much as the whole Confederacy, including the States west of the Mississippi is capable of enduring. The whole currency on both sides of the Mississippi he therefore estim
milliards and a half of francs ($1,500,000,000) was issued. The farmers were all ruined by the maximum. Every man was afraid of the paper money, and as fast as he accumulated it passed it to the Government, and took real estate in exchange. In this way half the landed property of the kingdom changed hands. By the time of the overthrow of Robespierre, the currency had fallen so low that General Pichegru commuted his pay, which was nominally 4,000 francs, or $800 a month, for $40; and General Hoche, at the head of an army of 100,000 men, wrote to the Directory to beg that they would send him a horse, for he had none, and could not buy one with the paper money. At last, in 1797, when the public debt had reached fifty millions of francs, or about $10,000,000,000 a decree of national bankruptcy was passed — that is to say, the whole debt was repudiated. We have taken the pains to write this short sketch for the sake of the example. The great mistake of the French financiers con
R. H. Memminger (search for this): article 1
cers high in the favor of the Government and the estimation of the country, upon the subject of our financial condition. We allude of course to the letters of Mr. Memminger to Mr. Hunter, and the statement of Mr. Tyler, Register of the Treasury. Mr. Memminger tells Mr. Hunter that $150,000,000 currency is as much as the whole ConMr. Memminger tells Mr. Hunter that $150,000,000 currency is as much as the whole Confederacy on both sides of the Mississippi can bear, (not as much as it requires, observe, but as much as it can stand up under;) that he has set that sam afloat in the countries west of the Mississippi, (that is, he has given them a currency whose volume is equal to the capacity of endurance possessed by the whole Confederacy;) thappi is capable of enduring. The whole currency on both sides of the Mississippi he therefore estimates at $452,000,000. Mr. Tyler makes a larger estimate than Mr. Memminger, stating the amount of Treasury notes heretofore issued at $624,000,000, and the outstanding circulation at $497,000,000, after deducting $126,000,000, which h
Talleyrand (search for this): article 1
The debt of France in 1787 was about three milliards of francs, or about $600,000,000. The deplorable state of the finances, and the inability of the Government to pay the interest of this debt occasioned the assembling of the Tiers Etta, and the meeting of that body, was the commencement of the revolution. In April, 1790, the Government so far from having extinguished any of the debt, had increased it by 1,250,000,000 francs; that is, about $250,000,000. In casting about for means, Talleyrand, himself a renegade priest, proposed to take into possession the property of the church, which constituted nearly half the real estate of the kingdom. In spite of violent opposition this measure was carried, --the immediate sale of church property to the amount of 400,000,000 francs, or $80,000,000, was ordered for the benefit of the State--and the further conduct of the affair turned over to the municipalities, who had become the purchasers in the first instance. Not doubting that they
h, which constituted nearly half the real estate of the kingdom. In spite of violent opposition this measure was carried, --the immediate sale of church property to the amount of 400,000,000 francs, or $80,000,000, was ordered for the benefit of the State--and the further conduct of the affair turned over to the municipalities, who had become the purchasers in the first instance. Not doubting that they should be able to meet their engagements by means of secondary sale, the municipality of Paris issued promissory notes to a large amount, and all the other municipalities followed their example, so that the whole amount of the notes thus issued soon reached the value of the whole amount of property confiscated. When the secondary sales took place, they were entirely disappointed in the results, and the Government took the burden off their shoulders by issuing its own promissory notes, and with them taking up the notes of the municipalities. Such was the origin of the Assignats. The
issued at $624,000,000, and the outstanding circulation at $497,000,000, after deducting $126,000,000, which have been funded, and about a million more which have been cancelled. This discrepancy has no bearing whatever upon our purpose, which is to show, from the example of another country, what must be the consequence if some means, more stringent than any which have yet been applied, be not adopted to retire the superfluous portion of this enormous circulation. The debt of France in 1787 was about three milliards of francs, or about $600,000,000. The deplorable state of the finances, and the inability of the Government to pay the interest of this debt occasioned the assembling of the Tiers Etta, and the meeting of that body, was the commencement of the revolution. In April, 1790, the Government so far from having extinguished any of the debt, had increased it by 1,250,000,000 francs; that is, about $250,000,000. In casting about for means, Talleyrand, himself a renegade prie
d thoughts constitute what is called public opinion, by presenting parallel examples drawn from the pages of history. In other words, it is their duty to point out the beacon, and leave it to others to heed the warning, or to carry the ship among the breakers, as may best suit their ideas of expediency. We shall endeavor in this article to give a short history of the rise, progress, and catastrophe of the paper issued by the several revolutionary Governments of France, between the years 1790 and 1797, as illustrating more completely than any other event in history the dangers of an inflated currency, and the absolute necessity of finding some means to reduce the volume when it has become thus inflated, under pain of absolute and irretrievable national bankruptcy. Three most important papers have been lately published by officers high in the favor of the Government and the estimation of the country, upon the subject of our financial condition. We allude of course to the letters
1 2