PARIS. Quittance de 95(?) Livres 6 Sols. Not in cat.Shak. black. Folds and a tear at the left border. Very early life rente issued to finance the French State, based on a Royal Decree from 1656 while almost all rentes discovered so far are issued from 1689 onwards. A brief word on the concept of these French Royal rentes: from the 16th century onwards, the French government raised (amongst others, e.g. taxes) money through the capitalisation of anticipated tax and duty revenues by the issue of annuities, whereby a capital sum was paid to the government against the issue of a bond to pay a fixed annuity out of future income, usually from the receipts of the stipulated tax or duty. These rentes were either for the lifetime of the person nominated, or perpetual. For much more info, we recommend Howard Shakespeare's book entitled 'France - The Royal Loans 1689-1789' (available through us).
Themes: BEFORE 1800, CITY & STATE BONDS
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