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The Patowmac Guardian, And Berkeley Advertiser
Martinsburg, Shepherdstown, Berkeley County, Jefferson County, West Virginia
What is this article about?
Letter from Paris, Aug 23, describes severe economic distress in France post-revolution: diminished commerce in capital cities, reputable merchants seeking creditor protections, only the rich unaffected, essential trades nearly halted.
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What future benefits are to be expected from our revolution remains for time to shew; but the present distress exceeds every thing that can be imagined. The commerce, not only of Paris, but of all the capital towns of France, is so much diminished that many reputable houses, who by their books appear able to pay 40s. for every pound they owe, are under the necessity of applying to the Garde du Sceaux for letters of licence, to protect them against their needy creditors. The number of these daily applications is beyond belief. If this be the case with houses of reputation, what must it be with those which in themselves are not solid.
There is in fact but one class of people who are exempt from this general distress; and this is the rich, who have their money locked up in their coffers, to draw out as they please. Every branch of trade which is founded on necessity, such as butchers, bakers, &c. &c. are almost at a stand.
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Where did it happen?
Foreign News Details
Primary Location
Paris
Event Date
August 23
Outcome
commerce diminished in paris and capital towns of france; many reputable houses applying for letters of licence to protect against creditors; only the rich exempt from general distress; trade in necessities almost at a stand.
Event Details
A letter from Paris reports present distress exceeding imagination after the revolution. Commerce in Paris and all capital towns of France is much diminished, leading reputable houses to seek protection via letters of licence from the Garde du Sceaux against needy creditors. Applications are numerous. Less solid houses face worse situations. Only the rich, with money in coffers, are exempt. Branches of trade founded on necessity, like butchers and bakers, are almost at a stand.