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Reflections on the Propriety of an Immediate Conclusion of Peace

Reflections on the Propriety of an Immediate Conclusion of Peace


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1793 edition. Excerpt: ...out of the kingdom, they were eagerly sought after by the French bankers, and as their value was continually increased by this competition, so the competition was kept up by speculations on the still farther expected expected increase of their value. Though these The history of the exchange between England and France, though not properly a part of my subject, is too much connected with it to be entirely overlooked. The French Ecu de Change is considered as passing at par when it is exchanged for thirty pence sterling, (and for that reason all the reductions of French money into English, in this publication, are made at that rate) though its exact value was about 29 before the depreciation which took place at the last re-coinage of the gold, when twenty-five old louis d'ors were coined into twenty-six new ones, so that the present par is s8. Previous to the commercial treaty, it had generally been above par, and during the American war was at 32, but the balance of trade then turning in favour of England, it varied in 1777 and 1778 from 8j to 29. After the Revolution it gradually fell, till in March, 179, it was reduced to 15. In that month the Jacobin Claviere, a banker of Geneva, well versed in all the mysteries of stock-jobbing, became the minister of finance. The preceding ministers had collected bills of exchange upon foreign countries to a considerable amount, in order to pay for those supplies which the probability of a war rendered necessary: Claviere re-issued them into circulation, and thus raised the exchange in the fame month to i8 . It had declined to 17 when he returned into office, with superior powers, after the destruction of the monarchy, oa the 10th of August. He then intimated to the principal bankers, that...


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Product Details
  • ISBN-13: 9781153119771
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 26
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1153119773
  • Publisher Date: 12 Oct 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 68 gr


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