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When the British invaded the country, the loyalists joined them; when the British were repulsed, thousands of them were obliged to abandon their homes. The finances of the States were as much disturbed as those of the Union. Their paper-money issues shared the same fate. Their debts, funded and unfunded, increased. They were harassed by internal divisions, even among the patriots.
He drew out some paper-money to get change, when the crowd coming round, some one seized his papers, among which were several rouble notes, his invaluable passport, and a note in which he had minutely inscribed all the towns and villages he must pass through on the road to Archangel. He was in despair.
He rarely saw wife or children; yet thought he was fulfilling the promise Maria had obtained from him the evening after his return, when he briefly answered her questions or voluntarily gave her such sentences as "There was warm work at the town-hall to-day!" or, "It is more difficult to circulate the paper-money than we expected!"
The figures alarmed us, so we all put on the waiters' plate various coins in gold, which he took to the counter and returned the change, making the total about sixteen dollars. The millreis is about a dollar, but being a paper-money was at a discount, so as only to be worth about fifty-six cents in coin.
At the commencement of his regency, the debts of the State were immense, and the finances exhausted: such great evils required extraordinary remedies; he wished to persuade the people that paper-money was better than specie. Thousands became the dupes of their avarice, and too soon awoke from their dream only to curse the authors of a project which ended in their total ruin.
He made out a list of the posts, the number of versts, and the money that was to be paid; he changed some of O'Donahue's gold into Russian paper-money, and gave all the necessary instructions.
The figures alarmed us, so we all put on the waiters' plate various coins in gold, which he took to the counter and returned the change, making the total about sixteen dollars. The millreis is about a dollar, but being a paper-money was at a discount, so as only to be worth about fifty-six cents in coin.
Under proper management, that estate could be seized and sold, for the benefit of the parties he had defrauded. I was sent off to America for this purpose. 'I landed at Boston. I went on to New York. I found that he had lately changed New York paper-money for New Jersey paper money, and had banked cash in New Brunswick.
Whatever the faults of our paper-money, it claims a prominent place among the illustrations of the close of the century, for it is the only currency save copper and Mr. Memminger's designs in blue that a majority of American youth have ever seen.
When the siege was raised in March, paper-money was restored, round pieces of pasteboard, one side of which bore the Netherland lion, with the inscription, "Haec libertatis ergo," while the other had the coat-of-arms of the city and the motto "God guard Leyden."
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