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Gazette Of The United States
Philadelphia, Philadelphia County, Pennsylvania
What is this article about?
An American in Paris warns against sending property to France due to falling prices and poor sales prospects. A decree mandates use of Mandats as currency, banning specie transactions with severe penalties, expecting it to facilitate debt payments.
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"I yet remain without the pleasure of a line from you, and now have only time to say to you not to send any property here, as the prices are much fallen, and no prospects of sale at present. Yesterday a decree passed for the issuing of Mandats, to be received in all cases as specie, which is forbidden to be bought, sold, or dealt in, in any way. You are only to buy or sell in Mandats, under the penalty of 4 years imprisonment in chains, and a heavy fine; an equal punishment on him, who refuses to receive when tendered. The debts due I expect will now soon be paid, as the paper will issue in a few days."
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Where did it happen?
Foreign News Details
Primary Location
Paris
Event Date
1796 03 24
Outcome
decree enforces mandats as legal tender, bans specie dealings with penalties of 4 years imprisonment and fines; expected to enable debt payments soon.
Event Details
Letter advises against sending property to France amid falling prices and no sales prospects. A decree issued yesterday mandates Mandats as equivalent to specie, prohibits buying, selling, or dealing in specie, requires all transactions in Mandats with severe penalties for non-compliance, including equal punishment for refusing Mandats when tendered.