Memoirs of the Court of St. Cloud (Being secret letters from a gentleman at Paris to a nobleman in London) — Volume 5 eBook

This eBook from the Gutenberg Project consists of approximately 61 pages of information about Memoirs of the Court of St. Cloud (Being secret letters from a gentleman at Paris to a nobleman in London) — Volume 5.

Memoirs of the Court of St. Cloud (Being secret letters from a gentleman at Paris to a nobleman in London) — Volume 5 eBook

This eBook from the Gutenberg Project consists of approximately 61 pages of information about Memoirs of the Court of St. Cloud (Being secret letters from a gentleman at Paris to a nobleman in London) — Volume 5.

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 people were not tired with waiting until towards three o’clock in the afternoon, when the bank is shut up.  They then became so clamorous that a company of gendarmes was placed for protection at the entrance of the bank; but, as the tumult increased, the street was surrounded by the police guards, and above six hundred individuals, many of them women, were carried, under an escort, to different police commissaries, and to the prefecture of the police.  There most of them, after being examined, were reprimanded and released.  The same night, the police spies reported in the coffee-houses of the Palais Royal, and on the Boulevards, that this run on the bank was encouraged, and paid for, by English emissaries, some of whom were already taken, and would be executed on the next day.  In the morning, however, the streets adjoining the bank were still more crowded, and the crowd still more tumultuous, because payment was refused for all notes but those of five hundred livres.  The activity of the

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Memoirs of the Court of St. Cloud (Being secret letters from a gentleman at Paris to a nobleman in London) — Volume 5 from Project Gutenberg. Public domain.