11 April 1790: (counter)revolutionary finance

…they long for you at the P. R. [Palais-Royal] in order to explain to them the difference between an assignat forcé, & a paper money – & to shew them how 400 millions of a paper circulating medium are to call into circulation all the specie that the Aristocrats are hiding in the same manner as they were monopolising & secreting the flour last year in order to effect a counter revolution – these are the fashionable themes at present – & a man who should venture to doubt about one or the other must take care to have his proofs in hand, or pass for an Aristocrat. I have never yet seen Hamilton’s plan of finance…. What do you think of Hamilton’s opinion that money could be borrowed at 4 P. Cent? – on what was it founded?

Short to Gouverneur Morris, in A diary of the French revolution, by Gouverneur Morris, 1752-1816. Ed. by Beatrix Cary Davenport. Vol. 1 (Boston, 1939), p. 470-471.


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