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Updated: September 11, 2025
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.
But you lose not the paper: put it away with the paper-money, quite safe. For yourself, this is half your pay I give you napoleons; ten. Count. And now once at the Chateau Sonnenberg, I repeat, you leave her in charge of two persons, one a woman, at the gate, and then back frrrrr.. Antonio-Pericles smacked on the flat of his hand, and sounded a rapid course of wheels.
After many struggles and considerable loss, I at length succeeded in obtaining the full value; but at this moment the old paper-money has again risen far beyond the fifth part, so that it is evident my salary becomes for the second time almost nil, and there is no hope of any compensation. My whole income is derived from my works.
Hence great debates arose in the assembly about paper-money, between the planting and mercantile interests. At this time the Governor, however, had so much influence as to prevail with the assembly to pass a law for sinking and paying off their paper credit in three years, by a tax on lands and negroes.
* when, by dint of expenditure and the burdens this creates, it becomes insolvent; * when, through its paper-money and forced circulation, it annuls indebtedness in the hands of the creditor, and allows the debtor to go scot-free; * when it arbitrarily seizes current capital; * when it makes forced loans and requisitions;
Through the depreciation of paper-money, the indolent land-owner or capitalist sees his income melting away in his hands; his receipts consist only of nominal values. On the 1st of January, his tenant pays him really for a half term instead of a full term; on the 1st of March, his farmer settles his account with a bag of grain.
We cannot leave Halifax without remarking that it is a city of great private virtue, and that its banks are sound. The appearance of its paper-money is not, however, inviting.
In the incident just recorded, the doctor probably had not, as a matter of fact, been stating his real opinions, though for the moment he may have imagined that he was an uncompromising "Paper-money man" or "Greenbacker," as a member of one of the minor political parties of the day was termed: the little man was poor, and Doctor Castleton had simply been drawing for him a picture of delights at least, so I conjectured.
No rhetoric could impress on a class the real spirit and strength of the middle ages as could one of my illuminated psalters or missals; no declamation upon the boldness of Luther could impress thinking young men as did citations from his ``Erfurt Sermon, which, by weakening his safe-conduct, put him virtually at the mercy of his enemies at the Diet of Worms; no statements as to the fatuity of Robespierre could equal citations from an original copy of his ``Report on the Moral and Religious Considerations which Ought to Govern the Republic''; all specifications of the folly of Marat paled before the ravings in the original copies of his newspaper, ``L'Ami du Peuple''; no statistics regarding the paper-money craze in France could so impress its actuality on students as did the seeing and handling of French revolutionary assignats and mandats, many of them with registration numbers clearly showing the enormous quantities of this currency then issued; no illustration, at second hand, of the methods of the French generals during the Revolutionary period could produce the impression given by a simple exhibition of the broadsides issued by the proconsuls of that period; no description of the collapse of the triumvirate and the Reign of Terror could equal a half-hour's reading from the ``Moniteur''; and all accounts of the Empire were dim compared to grandiose statements read from the original bulletins of Napoleon.
Certainly no panic, involving such widespread disturbance of the ordinary course of business was ever before known, either in the Old World or the New, on a paper-money basis, for the collapse of the speculative bubble at Vienna a few months earlier was a mere trifle in comparison, although it set us the example of throttling a panic by closing the avenue to the exchange of securities.
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