The Project Gutenberg EBook of The Memoirs of Louis XIV., Volume 8
by Duc de Saint-Simon

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Title: The Memoirs of Louis XIV., Volume 8
And His Court and of The Regency

Author: Duc de Saint-Simon

Release Date: December 3, 2004 [EBook #3867]

Language: English

Character set encoding: ASCII

*** START OF THIS PROJECT GUTENBERG EBOOK THE MEMOIRS OF LOUIS XIV., ***

Produced by David Widger

MEMOIRS OF LOUIS XIV AND HIS COURT AND OF THE REGENCY

BY THE DUKE OF SAINT-SIMON

VOLUME 8.

CHAPTER LV

Although, as we have just seen, matters were beginning to brighten a
little in Spain, they remained as dull and overcast as ever in France.
The impossibility of obtaining peace, and the exhaustion of the realm,
threw, the King into the most cruel anguish, and Desmarets into the
saddest embarrassment. The paper of all kinds with which trade was
inundated, and which had all more or less lost credit, made a chaos for
which no remedy could be perceived. State-bills, bank-bills, receiver-
general's-bills, title-bills, utensil-bills, were the ruin of private
people, who were forced by the King to take them in payment, and who lost
half, two-thirds, and sometimes more, by the transaction. This
depreciation enriched the money people, at the expense of the public; and
the circulation of money ceased, because there was no longer any money;
because the King no longer paid anybody, but drew his revenues still; and
because all the specie out of his control was locked up in the coffers of
the possessors.

The capitation tax was doubled and trebled, at the will of the Intendants
of the Provinces; merchandise and all kinds of provision were taxed to
the amount of four times their value; new taxes of all kinds and upon all
sorts of things were exacted; all this crushed nobles and roturiers,
lords and clergy, and yet did not bring enough to the King, who drew the
blood of all his subjects, squeezed out their very marrow, without
distinction, and who enriched an army of tax-gatherers and officials of
all kinds, in whose hands the best part of what was collected remained.

Desmarets, in whom the King had been forced t