Against this tendency toward the issue of irredeemable paper Necker
contended as best he might. He knew well to what it always had led,
even when surrounded by the most skillful guarantees. Among those who
struggled to support ideas similar to his was Bergasse, a deputy from
Lyons, whose pamphlets, then and later, against such issues exerted a
wider influence, perhaps, than any others: parts of them seem fairly
inspired. Any one to-day reading his prophecies of the evils sure to
follow such a currency would certainly ascribe to him a miraculous
foresight, were it not so clear that his prophetic power was due
simply to a knowledge of natural laws revealed by history. But this
current in favor of paper money became so strong that an effort was
made to breast it by a compromise: and during the last months of 1789
and the first months of 1790 came discussions in the National Assembly
looking to issues of notes based upon the landed property of the
Church,--which was to be confiscated for that purpose. But care was
to be taken; the issue was to be largely in the shape of notes of
1,000, 300 and 200 _livres_, too large to be used as ordinary
currency, but of convenient size to be used in purchasing the Church
lands; besides this, they were to bear interest and this would tempt
holders to hoard them. The Assembly thus held back from issuing
smaller obligations.

Remembrances of the ruin which had come from the great issues of
smaller currency at an earlier day were still vivid. Yet the pressure
toward a popular currency for universal use grew stronger and
stronger. The finance committee of the Assembly reported that "the
people demand a new circulating medium"; that "the circulation of
paper money is the best of operations"; that "it is the most free
because it reposes on the will of the people"; that "it will bind the