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Taine, Hippolyte, 1828-1893

"The French Revolution - Volume 1"

One hundred and twenty-three millions of
revenue, representing two thousand millions and a half of capital in
the money of that time, double, at least, that of the present day,
thus passes as a gift, or through the toleration of the National
Assembly, from the hands of creditors into those of their debtors.
To this must be added an equal sum for revenue and capital arising
from the tithes which are suppressed without compensation, and by
the same stroke. -- This is the commencement of the great
revolutionary operation, that is to say, of the universal bankruptcy
which, directly or indirectly, is to destroy all contracts, and
abolish all debts in France. Violations of property, especially of
private property, cannot be made with impunity. The Assembly
desired to lop off only the feudal branch; but, in admitting that
the State can annul, without compensation, the obligations which it
has guaranteed, it put the ax to the root of the tree, and other
rougher hands are already driving it in up to the haft.


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