The maxim is true, and, on this occasion, success once more demonstrates its soundness. During the year 1792, the peasant begins to discharge a portion of his arrears, but it is with assignats. In January, February, and March, 1792, the assignats diminish thirty-four, forty-four, and forty-five per cent. in value; in January, February, and March, 1793, forty-seven and fifty percent.; in May, June, and July, 1793, fifty-four, sixty, and sixty-seven per cent. Thus has the old credit of the State melted away in its hands; those who have held on to their crowns gain fifty per cent. and more. Again, the greater their delay the more their debts diminish, and already, on the strength of this, the way to release themselves at half-price is found.
