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Foreign News December 4, 1790

Gazette Of The United States

New York, New York County, New York

What is this article about?

France's national debt reported at 4,952,145,065 livres (206 million sterling), with National Assembly expenses and clergy debts adding 1,900 million livres. Emission of Assignats causes Paris exchange to fall to 24.5 pence per Ecu as of 6 October letters from London. Query on potential bankruptcy impact on Britain.

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The National debt of France is said to be four thousand nine hundred and fifty two millions, one hundred and forty five thousand, sixty five livres—two hundred and six millions sterling.—[How much the National Assembly will lessen this sum, time alone must determine.] By a late statement it appears, that since the meeting of the National Assembly, their expences, and the debts of the Clergy, payment of which they have assumed, with incidental charges, amount to nineteen hundred millions of livres!.- Query, whether the national bankruptcy of France, supposing such an event possible, would not affect the neighboring powers, particularly Great Britain, whose debt is about the same?

Owing to the immense emission of Assignats by the National Assembly, it is said, that letters from London of 6 October, mention, that Exchange on Paris has fallen to twenty-four pence half penny sterling pr. Ecu, or little more than eight pence pr. livre tournois.

What sub-type of article is it?

Economic Political

What keywords are associated?

French National Debt National Assembly Expenses Assignats Emission Paris Exchange Rate French Bankruptcy Query

Where did it happen?

France

Foreign News Details

Primary Location

France

Event Date

6 October

Outcome

national debt: 4,952,145,065 livres (206 million sterling); additional expenses: 1,900 million livres; exchange on paris fallen to 24.5 pence per ecu

Event Details

France's national debt is reported at four thousand nine hundred and fifty two millions, one hundred and forty five thousand, sixty five livres, equivalent to two hundred and six millions sterling. Since the National Assembly's meeting, their expenses, assumed clergy debts, and incidental charges total nineteen hundred millions of livres. Immense emission of Assignats leads to exchange on Paris falling to twenty-four pence half penny sterling per Ecu, or little more than eight pence per livre tournois, per letters from London of 6 October. Queries raised on potential bankruptcy impact on neighboring powers like Great Britain.

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