red persons
had been again taken up for their mutinous conduct. Of these many were,
on the same evening, loaded with chains, and, placed in carts under
military escort, paraded about near the bank and the Palais Royal; the
police having, as a measure of safety, under suspicion that they were
influenced by British gold, condemned them to be transported to Cayenne;
and the carts set out on the same night for Rochefort, the place of their
embarkation.

On the following day, not an individual approached the bank, but all
trade and all payments were at a stand; nobody would sell but for ready
money, and nobody who had bank-notes would part with cash. Some Jews and
money-brokers in the Palais Royal offered cash for these bills, at a
discount of from ten to twenty per cent. But these usurers were, in
their turn, taken up and transported, as agents of Pitt. An interview
was then demanded by the directors and principal bankers with the
Ministers of Finance and of the Public Treasury. In this conference it
was settled that, as soon as the two millions of dollars on their way
from Spain had arrived at Paris, the bank should reassume its payments.
These dollars Government would lend the bank for three months, and take
in return its notes, but the bank was, nevertheless, to pay an interest
of six per cent. during that period. All the bankers agreed not to press
unnecessarily for any exchange of bills into cash, and to keep up the
credit of the bank even by the individual credit of their own houses.

You know, I suppose, that the Bank of France has never issued but two
sorts of notes; those of one thousand livres--and those of five hundred
livres. At the day of its stoppage, sixty millions of livres--of the
former, and fifteen millions of livres--of the latter, were in
circulation; and I have heard a banker assert that the bank had not then
six millions of livres--in money and bullion, to satisfy the claims of
its creditors, or to honour its bills.

The shock given to the credit of the bank by this last requisition of
Bonaparte will be felt for a long time, and will with difficulty ever be
repaired under his despotic government. Even now, when the bank pays in
cash, our merchants make a difference from five to ten per cent. between
purchasing for specie or paying in bank-notes; and this mistrust will not
be lessened hereafter. You may, perhaps, object that, as long as the
bank pays, it is absurd for any one possessing its