hich
we have had full experience in America. I mean that of fixing the price
of provisions. But if this measure is to be attempted it ought to
be done by the Municipality. The Convention has nothing to do with
regulations of this kind; neither can they be carried into practice. The
people of Paris may say they will not give more than a certain price
for provisions, but as they cannot compel the country people to bring
provisions to market the consequence will be directly contrary to their
expectations, and they will find dearness and famine instead of plenty
and cheapness. They may force the price down upon the stock in hand, but
after that the market will be empty.

I will give you an example. In Philadelphia we undertook, among other
regulations of this kind, to regulate the price of Salt; the consequence
was that no Salt was brought to market, and the price rose to thirty-six
shillings sterling per Bushel. The price before the war was only one
shilling and sixpence per Bushel; and we regulated the price of flour
(farina) till there was none in the market, and the people were glad to
procure it at any price.

There is also a circumstance to be taken into the account which is not
much attended to. The assignats are not of the same value they were a
year ago, and as the quantity increases the value of them will diminish.
This gives the appearance of things being dear when they are not so in
fact, for in the same proportion that any kind of money falls in
value articles rise in price. If it were not for this the quantity of
assignats would be too great to be circulated. Paper money in America
fell so much in value from this excessive quantity of it, that in the
year 1781 I gave three hundred paper dollars for one pair of worsted
stockings. What I write you upon this subject is experience, and not
merely opinion. I have no personal interest in any of these matters, nor
in any party disputes. I attend only to general principles.

As soon as a constitution shall be established I shall return to
America; and be the future prosperity of France ever so great, I shall
enjoy no other part of it than the happiness of knowing it. In the mean
time I am distressed to see matters so badly conducted, and so little
attention paid to moral principles. It is these things that injure the
character of the Revolution and discourage the progress of liberty all
over the world. When I began this letter I did not intend making it so
lengthy,