, 1805.

My LORD:--I am told that it was the want of pecuniary resources that made
Bonaparte so ill-tempered on his last levee day. He would not have come
here at all, but preceded his army to Strasburg, had his Minister of
Finances, Gaudin, and his Minister of the Public Treasury, Marbois, been
able to procure forty-four millions of livres--to pay a part of the
arrears of the troops; and for the speedy conveyance of ammunition and
artillery towards the Rhine.

Immediately after his arrival here, Bonaparte sent for the directors of
the Bank of France, informing them that within twenty-four hours they
must advance him thirty-six millions of livres--upon the revenue of the
last quarter of 1808. The president of the bank, Senator Garrat,
demanded two hours to lay before the Emperor the situation of the bank,
that His Majesty might judge what sum it was possible to spare without
ruining the credit of an establishment hitherto so useful to the commerce
of the Empire. To this Bonaparte replied that he was not ignorant of the
resources, or of the credit of the bank, any more than of its public
utility; but that the affairs of State suffered from every hour's delay,
and that, therefore, he insisted upon having the sum demanded even within
two hours, partly in paper and partly in cash; and were they to show any
more opposition, he would order the bank and all its effects to be seized
that moment. The directors bowed and returned to the bank; whither they
were followed by four waggons escorted by hussars, and belonging to the
financial department of the army of England. In these were placed eight
millions of livres in cash; and twenty-eight millions in bank-notes were
delivered to M. Lefevre, the Secretary-General of Marbois, who presented,
in exchange, Bonaparte's bond and security for the amount, bearing an
interest of five per cent. yearly.

When this money transaction was known to the public, the alarm became
general, and long before the hour the bank usually opens the adjoining
streets were crowded with persons desiring to exchange their notes for
cash. During the night the directors had taken care to pay themselves
for the banknotes in their own possession with silver or gold, and, as
they expected a run, they ordered all persons to be paid in copper coin,
as long as any money of this metal remained. It required a long time to
count those halfpennies and centimes (five of which make a sou, or
halfpenny), but the pe