LETTER CLVIII.—­TO JOHN JAY, September 3, 1788

TO JOHN JAY.

Paris, September 3, 1788.

Sir,

By Mrs. Barclay I had the honor of sending you letters of the 3rd, 10th, and 11th of August; since which, I wrote you of the 20th of the same month, by a casual conveyance, as is the present.

In my letter of the 20th, I informed you of the act of public bankruptcy which had taken place here.  The effect of this would have been a forced loan of about one hundred and eighty millions of livres, in the course of the present and ensuing year.  But it did not yield a sufficient immediate relief.  The treasury became literally moneyless, and all purposes depending on this mover came to a stand.  The Archbishop was hereupon removed, with Monsieur Lambert, the Comptroller General; and Mr. Necker was called in, as Director General of the finance.  To soften the Archbishop’s dismission, a cardinal’s hat is asked for him from Rome, and his nephew promised the succession to the Archbishopric of Sens.  The public joy, on this change of administration, was very great indeed.  The people of Paris were amusing themselves with trying and burning the Archbishop in effigy, and rejoicing on the appointment of Mr. Necker.  The commanding officer of the city-guards undertook to forbid this, and not being obeyed, he charged the mob with fixed bayonets, killed two or three, and wounded many:  this stopped their rejoicings for that day; but enraged at being thus obstructed in amusements wherein they had committed no disorder whatever, they collected in great numbers the next day, attacked the guards in various places, burnt ten or twelve guard-houses, killed two or three of the guards, and had about six or eight of their own number killed.  The city was hereupon put under martial law, and after a while, the tumult subsided, and peace was restored.  The public stocks rose ten per cent, on the day of Mr. Necker’s appointment:  he was immediately offered considerable sums of money, and has been able so far to wave the benefit of the act of bankruptcy, as to pay in cash all demands, except the remboursements des capitaux.  For these, and for a sure supply of other wants, he will depend on the States General, and will hasten their meetings, as is thought.  No other change has yet taken place in the administration.  The minister of war, however, must certainly follow his brother, and some think, and all wish, that Monsieur de Lamoignon, the Garde des Sceaux, may go out also.  The administration of justice is still suspended.  The whole kingdom seems tranquil at this moment.