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Paris As It Was and As It Is

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Independently of these divers into futurity, the corners of streets
and walls of public squares, are covered with hand-bills announcing
books containing secrets, sympathetic calculations of numbers in the
lottery, the explanation of dreams in regard to those numbers,
together with the different manners of telling fortunes, and
interpreting prognostics.

At all times, the marvellous has prevailed over simple truth, and the
Cumæan Sibyl attracted the inquisitive in greater crowds than
Socrates, Plato, or any philosopher, had pupils in the whole course
of their existence.

In Paris, the sciences are really making a rapid progress,
notwithstanding the fooleries of the pseudo-philosophers, who parade
the streets, and here, on the _Boulevards_, as well as in other parts
of the town, exhibit lessons of physics.

One has an electrifying machine, and phials filled with phosphorus:
for two _sous_, he gives you a slight shock, and makes you a present
of a small phial.

Farther on, you meet with a _camera obscura_, whose effect surprises
the spectators the more, as the objects represented within it have
the motion which they do not find in common optics.

There, you see a double refracting telescope: for two _sous_, you
enjoy its effect. At either end, you place any object whatever, and
though a hat, a board, or a child be introduced between the two
glasses, the object placed appears not, on that account, the less
clear and distinct to the eye of the person looking through the
opposite glass. _Pierre_ has seen, and cannot believe his eyes:
_Jacques_ wishes to see, and, on seeing, is in ecstacy: next comes
_Fanchon_, who remains stupified. Enthusiasm becomes general, and the
witnesses of their delirium are ready to go mad at not having two
_sous_ in their pocket.

Another fellow, in short, has a microscope, of which he extols the
beauty, and, above all, the effects: he will not describe the causes
which produce them, because he is unacquainted with them; but,
provided he adapts his lessons to the understanding of those who
listen to him, this is all he wants. Sometimes he may be heard to say
to the people about him: "Gentlemen, give me a creeping insect, and
for one _sou_, I will shew it to you as big as my fist." Sometimes
too, unfortunately for him, the insect which he requires is more
easily found among part of his auditors, than the money.

P.S. For the preceding account of the Parisian conjurers I am
indebted to M. Pujoulx.



LETTER XXVIII.

_Paris, December 4, 1802_.

In one of your former letters you questioned me on a subject, which,
though it had not escaped my notice, I was desirous to avoid, till I
should be able to obtain on it some precise information. This I have
done; and I hasten to present you with the following sketch, which
will afford you a tolerably-correct idea of the

FRENCH FUNDS, AND NATIONAL DEBT.

The booked or consolidated debt is called

TIERS CONSOLIDÉ,

from its being the consolidated third of the national debt, of which
the remaining two-thirds were reimbursed in _Bons de deux Tiers_ in
1797 and 98. It bears interest at five per Cent. payable half yearly
at the _Banque de France_. The payment of the interest is at present
six months in arrear. But the intention of the government is, by
paying off in specie the interest of one whole year, to pay in future
as soon as due.

The days of payment are the 1st of Germinal (23d of March) and the
1st of Vendémiaire (23d of September).

This stock purchased at the present price of from 55 to 60 would
produce from eight to nine per cent. The general opinion is, that it
will rise to 80; and as it is the chief stock, and the standard of
the national credit, it is the interest, and must be the constant
object of the government to keep up its price.

There is a _Caisse d'amortissement_ or Sinking Fund, for the special
purpose of paying off this stock, the effect of which, though not
exactly known, must shortly be very considerable. The _Tiers
Consolidé_ is saleable and transferable at a moment's warning, and at
a trifling expense. It is not subject to taxation, nor open to
attachments, either on the principal or interest.

For purchasing, no sort of formality is required; but for receiving
interest, or selling, it is necessary to produce a power of attorney.
An established rule is, that the seller always retains his right to
half a year's interest at the succeeding stated period of payment, so
that he who purchases in the interval between March and September, is
entitled to the interest commencing from the 23d of the latter month
only; and he who buys between September and March, receives not his
first dividend till the 23d of the following September.

TIERS PROVISOIRE.

This is the debt, yet unbooked, which is composed of the provisional
claims of the creditors of the emigrants, the contractors, and
various other holders of claims on the government.

The _Tiers Provisoire_ is to be booked before the 1st of Vendémiaire,
year XII of the Republic (23d of September, 1803), and will from that
day bear interest of five per cent; so that, setting aside the danger
of any retrospect in the interval, and that of any other change, it
is at the present price, of from 15 to 50, cheaper than the _Tiers
Consolidé_ to which, in about eighteen months, it will, in every
respect, be assimilated.

BONS DE DEUX TIERS,

Is paper issued for the purpose of reimbursing the reduced two-thirds
of the National Debt, and in the origin rendered applicable to the
purchase of national houses and estates in the French Colonies, since
ordered to be funded at five per cent; so that the price of this
species of paper is entirely subordinate to that of the _Tiers
Consolidé_ and supposing that to be 60 francs per cent, the _Bon de
deux Tiers_ would be worth 3 francs. There are no hopes, however
distant, that the government will ever restore the _Bons de deux
Tiers_ to their original value.

BONS DE TROIS QUARTS,

So called from having been issued for the purpose of reimbursing the
three-fourths of the interest of the fifth and sixth years of the
Republic (1797 to 1798). They are, in all respects, assimilated to
the preceding stock.

COUPONS D'EMPRUNT FORCÉ.

These are the receipts given by the government to the persons who
contributed to the various forced loans. This paper is likewise
assimilated to the two last-mentioned species, with this difference,
that it is generally considered as a less sacred claim, and is
therefore liquidated with greater difficulty. The holders of these
three claims are hastening the liquidation and consolidation of them,
and they are evidently right in so doing.

QUARTS AU NOM ET QUART NUMÉRAIRE.


This paper is thus denominated from its having been issued for the
purpose of reimbursing the fourth of the dividend of the fifth and
sixth years of the Republic (1797 to 1798). It is generally thought
that this very sacred claim on the government will be funded _in
toto_.

RACHATS DE RENTE,

Is the name given to the redemption of perpetual annuities due by
individuals to the government, on a privileged mortgage on landed
estates; the said annuities having been issued by the government in
times of great distress, for the purpose of supplying immediate and
urgent events.

This paper is not only a mere government security, but is also
specially mortgaged on the estates of the person who owes the annuity
to the government, and who is, at any time, at liberty to redeem it
at from twenty to twenty-five years purchase. Claims of this
description, mortgaged on most desirable estates near the metropolis,
might be obtained for less than 60 per cent; which, at the interest
of five per cent, and with the additional advantage, in some
instances, of the arrears of one or two years, would produce between
eight and nine per cent.

Next to the _Tiers Consolidé_, _Rachats de Rente_ are particularly
worthy of attention; indeed, this debt is of so secure and sacred a
nature, that the government has appropriated a considerable part of
it to the special purpose and service of the hospitals and schools;
two species of institutions which ought ever to be sheltered from all
vicissitudes, and which, whatever may be the form or character of the
government, must be supported and respected.

ACTIONS DE LA BANQUE DE FRANCE.

These are shares in the National Bank of France, which are limited to
the number of thirty thousand, and were originally worth one thousand
francs each; they therefore form a capital of 30,000,000 francs, or
£1,250,000 sterling, and afford as follows:

1. A dividend which at present, and since the foundation, has
averaged from eight to ten per cent, arising from the profits on
discount.

2. A profit of from four to five per cent more on the discount of
paper, which every holder of an _action_ or share effects at the
Bank, at the rate of one-half per cent per month, or six per cent for
the whole year.

The present price of an _action_ is about twelve hundred francs,
which may be considered as producing:

80 francs; dividend paid by the Bank on each share.

30 francs; certain profits according to the present discount of
bills.

110 francs; per share 10-10/11 per cent.

_Actions de la Banque de France_, though subject, in common with all
stocks, to the influence of the government, are, however, far more
independent of it than any other, and are the more secure, as the
National Bank is not only composed of all the first bankers, but also
supported by the principal merchants in the country. This investment
is at present very beneficial, and certainly promises great eventual
advantages. The dividends are paid in two half-yearly instalments.

ACTIONS DE LA CAISSE DE COMMERCE,
ET
ACTIONS DU COMPTOIR COMMERCIAL.

The _Caisse de Commerce_ and the _Comptoir Commercial_ are two
establishments on the same plan, and affording, as nearly as
possible, the same advantages as the _Banque de France_: the
only difference is as follows:

1. These last two are, as far as any commercial establishment can be,
independent of the government, and are more so than the _Banque de
France_, as the _actions_ or shares are not considered as being a
public fund.

2. The _Actions de la Caisse de Commerce_ limited in number to two
thousand four hundred, originally cost 5000 francs, and are now worth
6000. The holder of each _action_ moreover, signs circulating notes
to the amount of five thousand francs, which form the paper currency
of the Bank, and for the payment of which the said holder would be
responsible, were the Bank to stop payment.

3. The _Actions du Comptoir Commercial_ are still issued by the
administrators of the establishment. The number of _actions_ is not
as yet limited: the price of each _action_ is fifteen hundred francs
(_circa_ £60 sterling), and the plan and advantages are almost
entirely similar to those of the two last-mentioned institutions.

The _Banque de France_ the _Caisse de Commerce_, and the _Comptoir
Commercial_, discount three times a week. The first, the paper of the
banking-houses and the principal commercial houses holding
bank-stock; the second, the paper of the wholesale merchants of every
class; and the third, the paper of retailers of all descriptions; and
in a circulation which amounts to 100 millions of francs (_circa_ 4
millions sterling) per month, there have not, it is said, been seen,
in the course of the last month, protests to the amount of 20,000
francs.

BONS DE L'AN VII ET DE L'AN VIII.

Is a denomination applied to paper, issued for the purpose of paying
the dividend of the debt during the seventh and eighth years of the
Republic.

These _Bons_ are no further deserving of notice than as they still
form a part of the floating debt, and are an article of the supposed
liquidation at the conclusion of the present summary. It is therefore
unnecessary to say more of them.

ARRÉRAGES DES ANNÉES V ET VI.

These are the arrears due to such holders of stock as, during the
fifth and sixth years of the Republic, had not their dividend paid in
_Bons de trois Quarts_ and _Quart Numéraire_, mentioned in Art. IV
and VI of this sketch. I also notice them as forming an essential
part of the above-mentioned supposed liquidation, at the end of the
sketch, and shall only add that it is the general opinion that they
will be funded.

To the preceding principal investments and claims on the government,
might be added the following:

_Coupes de Bois.
Cédules Hypothécaires.
Rescriptions de Domaines Nationaux.
Actions de la Caisse des Rentiers.
Actions des Indes.
Bons de Moines et Réligieuses.
Obligations de Reçeveur._

However, they are almost entirely unworthy of attention, and afford
but occasionally openings for speculation. Of the last, (_Obligations
de Reçeveur_) it may be necessary to observe that they are monthy
acceptances issued by the Receivers-General of all the departments,
which the government has given to the five bankers, charged with
supplying money for the current service, as security for their
advances, and which are commonly discounted at from 7/8 to one per
cent per month.

I shall terminate this concise, though accurate sketch of the French
funds by a general statement of the National Debt, and by an account
of an annuity supposed to be held by a foreigner before the
revolution, and which, to become _Tiers Consolidé_, must undergo the
regular process of reduction and liquidation.


_National Debt_.

_Francs._

Consolidated Stock (_Tiers Consolidé_) 38,750,000
Floating Debt, to be consolidated, about 23,000,000
Life Annuities 20,000,000
Ecclesiastical, Military, and other Pensions 19,000,000
-----------
100,750,000

The value of a _franc_ is something more
than 10_d_. English money: according to
which calculation, the National Debt of
France is in round numbers no more than £4,000,000

Supposed liquidation of an annuity of £100. sterling, or 2,400
_livres tournois_ held by a foreigner before the war and yet
unliquidated.

_Francs._
Original Annuity 2,400
_Tiers Consolidé
Bons de deux Tiers_ 2,400

The actual value of the whole, including the arreared dividends up to
the present day is as follows:

_Francs._
_Tiers Consolidé_ as above,
800 francs sold at 60 francs 9,600
_Bons de deux Tiers_, ditto
1600 francs sold at 3 francs 48


Arrears from the first year of the Republic to the fifth ditto (23d
of September, 1792 to the 23d of September, 1797) are to be paid in
Assignats, and are of no value.

Arrears of the fifth and sixth years supposed to
be liquidated so as to afford 25 per cent of
their nominal value, about 600
Arrears in _Bons_ for the year VII, valued at 50
per cent loss 400
Arrears of the year VIII, due in _Bons_, valued
at 25 per cent loss 600
Arrears of the year IX, due in specie 600
Arrears of the year X, of which three months
are nearly elapsed 200
-----
Total of the principal and interest of an original
annuity of 2,400 livres, reduced (according
to law) to 800 12,248
Or in sterling, _circa_ £500
------

I had almost forgot that you have asked me more than once for an
explanation of the exact value of a modern franc. The following you
may depend on as correct.

The _unité monétaire_ is a piece of silver of the weight of five
_grammes_, containing a tenth of alloy and nine tenths of pure
silver. It is called _Franc_, and is subdivided into _Décimes_, and
_Centimes_: its value is to that of the old _livre tournois_ in the
proportion of 81 to 80.

_Value in livres tournois._
liv. sous. deniers.
Franc 1 0 3
Décime 2 0.3
Centime 2.43



LETTER XXIX.

_Paris, December 7, 1801_.

At the grand monthly parade of the 15th of last Brumaire, I had seen
the First Consul chiefly on horseback: on which account, I determined
to avail myself of that of the 15th of the present month of Frimaire,
in order to obtain a nearer view of his person. On these occasions,
none but officers in complete uniform are admitted into the palace of
the _Tuileries_, unless provided with tickets, which are distributed
to a certain number at the discretion of the governor. General A----y
sent me tickets by ten o'clock this morning, and about half after
eleven, I repaired to the palace.

On reaching the vestibule from the garden of the _Tuileries_, you
ascend the grand stair-case to the left, which conducts you to the
guard-room above it in the centre pavilion. Hence you enter the
apartments of the Chief Consul.

On the days of the grand parade, the first room is destined for
officers as low as the rank of captain, and persons admitted with
tickets; the second, for field-officers; the third, for generals; and
the fourth, for councellors of state, and the diplomatic corps. To
the east, the windows of these apartments command the court-yard
where the troops are assembled; while to the west, they afford a fine
view of the garden of the _Tuileries_ and the avenue leading to the
_Barrière de Chaillot_. In the first-room, those windows which
overlook the parade were occupied by persons standing five or six in
depth, some of whom, as I was informed, had been patient enough to
retain their places for the space of two or three hours, and among
them were a few ladies. Here, a sort of lane was formed from door to
door by some grenadiers of the consular guard. I found both sides of
this lane so much crowded, that I readily accepted the invitation of
a _chef de brigade_ of my acquaintance to accompany him into the
second room; this, he observed, was no more than a privilege to which
I was entitled. This room was also crowded; but it exhibited a most
brilliant _coup d'oeil_ from the great variety and richness of the
uniforms of the field-officers here assembled, by which mine was
entirely eclipsed. The lace or embroidery is not merely confined to
the coats, jackets, and pantaloons, but extends to the sword belts,
and even to the boots, which are universally worn by the military.
Indeed, all the foreign ambassadors admit that none of the levees of
the European courts can vie in splendour with those of the Chief
Consul.

My first care on entering this room, was to place myself in a
situation which might afford me an uninterrupted view of BONAPARTE.
About twenty-five minutes past twelve, his sortie was announced by a
_huissier_. Immediately after, he came out of the inner apartment,
attended by several officers of rank, and, traversing all the other
rooms with a quick step, proceeded, uncovered, to the parade, the
order of which I have described to you in a former letter. On the
present occasion, however, it lasted longer on account of the
distribution of arms of honour, which the First Consul presents with
his own hand to those heroes who have signalized themselves in
fighting their country's battles.

This part of the ceremony, which was all that I saw of the parade
yesterday, naturally revived in my mind the following question, so
often agitated: "Are the military successes of the French the
consequences of a new system of operations and new tactics, or merely
the effect of the blind courage of a mass of men, led on by chiefs
whose resolutions were decided by presence of mind alone and
circumstances?"

The latter method of explaining their victories has been frequently
adopted, and the French generals have been reproached with lavishing
the lives of thousands for the sake of gaining unimportant
advantages, or repairing inconsiderable faults.

Sometimes, indeed, it should seem that a murderous obstinacy has
obtained them successes to which prudence had not paved the way; but,
certainly, the French can boast, too, of memorable days when talent
had traced the road to courage, when vast plans combined with
judgment, have been followed with perseverance, when resources have
been found in those awful moments in which Victory, hovering over a
field of carnage, leaves the issue of the conflict doubtful, till a
sudden thought, a ray of genius, inclines her in favour of the
general, thus inspired, and then art may be said to triumph over art,
and valour over valour.

And whence came most of these generals who have shewn this
inspiration, if I may so term it? Some, as is well known, emerged
from the schools of jurisprudence; some, from the studies of the
arts; and others, from the counting-houses of commerce, as well as
from the lowest ranks of the army. Previously to the revolution it
was not admitted, in this country at least, that such sources could
furnish men fit to be one day the arbiters of battles and of the fate
of empires. Till that period, all those Frenchmen who had
distinguished themselves in the field, had devoted themselves from
their infancy to the profession of arms, were born near the throne of
which they constituted the lustre, or in that cast who arrogated to
themselves the exclusive right of defending their country. The glory
of the soldier was not considered; and a private must have been more
than a hero to be as much remarked as a second lieutenant.

Men of reflection, seeing the old tactics fail against successful
essays, against enthusiasm whose effects are incalculable, studied
whether new ideas did not direct some new means; for it would have
been no less absurd to grant all to valour than to attribute all to
art. But to return to the main subject of my letter.

In about three quarters of an hour, BONAPARTE came back from the
parade, with the same suite as before, that is, preceded by his
aides-de-camp, and followed by the generals and field-officers of the
consular guard, the governor of the palace, the general commanding
the first military division, and him at the head of the garrison of
Paris. For my part, I scarcely saw any one but himself; BONAPARTE
alone absorbed my whole attention.

A circumstance occurred which gave me an opportunity of observing the
Chief Consul with critical minuteness. I had left the second room,
and taken my station in front of the row of gazers, close to the
folding-doors which opened into the first room, in order to see him
receive petitions and memorials. There was no occasion for BONAPARTE
to cast his eyes from side to side, like the _Grand Monarque_ coming
from mass, by way of inviting petitioners to approach him. They
presented themselves in such numbers that, after he put his hat under
his arm, both his hands were full in a moment. To enable him to
receive other petitions, he was under the necessity of delivering the
first two handfuls to his aides-de-camp. I should like to learn what
becomes of all these papers, and whether he locks them up in a little
desk of which he alone has the key, as was the practice of Lewis XIV.

When BONAPARTE approached the door of the second room, he was
effectually impeded in his progress by a lady, dressed in white, who,
throwing herself at his feet, gracefully presented to him a memorial,
which he received with much apparent courtesy; but still seemed, by
his manner, desirous to pass forward. However, the crowd was so
considerable and so intent on viewing this scene, that the
grenadiers, posted near the spot where it took place, were obliged to
use some degree of violence before they could succeed in clearing a
passage.

Of all the portraits which you and I have seen of BONAPARTE in
England, that painted by Masquerier, and exhibited in Piccadilly,
presents the greatest resemblance. But for his side-face, you may,
for twelve _sous_, here procure a perfect likeness of it at almost
every stall in the street. In short, his features are such as may, in
my opinion, be easily copied by any artist of moderate abilities.
However incompetent I may be to the task, I shall, as you desire it,
attempt to _sketch_ his person; though I doubt not that any French
_commis_, in the habit of describing people by words, might do it
greater justice.

BONAPARTE is rather below the middle size, somewhat inclined to
stoop, and thin in person; but, though of a slight make, he appears
to be muscular, and capable of fatigue; his forehead is broad, and
shaded by dark brown hair, which is cut short behind; his eyes, of
the same colour, are full, quick, and prominent; his nose is
aquiline; his chin, protuberant and pointed; his complexion, of a
yellow hue; and his cheeks, hollow. His countenance, which is of a
melancholy cast, expresses much sagacity and reflection: his manner
is grave and deliberate, but at the same time open. On the whole, his
aspect announces him to be of a temperate and phlegmatic disposition;
but warm and tenacious in the pursuit of his object, and impatient of
contradiction. Such, at least, is the judgment which I should form of
BONAPARTE from his external appearance.

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