These compulsory
measures for a short time gave a false credit to the bank, which proceeded
to discount merchants' notes, to lend money on jewels, plate, and other
valuables, as well as on mortgages.
Still further to force on the system an edict next appeared, forbidding any
individual, or any corporate body, civil or religious, to hold in
possession more than five hundred livres in current coin; that is to say,
about seven louis d'ors: the value of the louis-d'or in paper being, at the
time, seventy-two livres. All the gold and silver they might have above
this pittance was to be brought to the royal bank and exchanged either for
shares or bills.
As confiscation was the penalty of disobedience to this decree, and
informers were assured a share of the forfeitures, a bounty was in a manner
held out to domestic spies and traitors; and the most odious scrutiny was
awakened into the pecuniary affairs of families and individuals. The very
confidence between friends and relatives was unpaired, and all the domestic
ties and virtues of society were threatened, until a general sentiment of
indignation broke forth, that compelled the regent to rescind the odious
decree.
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