LS in French, signed “Nap.,” one page, 7.25 x 9, July 16, 1810. Letter to Minister of the Public Treasury Nicolas Francois, Count Mollien, written amidst the Peninsular War. In part (translated): "I estimate that Bank shares have the following values: primitive funds, 1000 francs, reserve 220 fr. which makes 1220 francs, the right on the establishment belonging to the Bank I estimate at three million, 33 f=the intrinsic value is thus 1253 fr. on July 1. That being the case, on July 15, we must add 3 fr. to the active part of the dividend, which makes 1256, we must add 3 f. on July 30, which brings the share to 1259 f. In this state of things, I want you to activate, in the easiest way possible, 4000 shares, but without surpassing their real value, that is, 1252 francs for intrinsic value, and 6 francs per month after July 1, for interest. While the price is less than 1252 f. plus interest, you will be able to conduct your operations at the service desk. I see that on July 14, they were at 1252 f., their intrinsic value thus being judged at 1255 francs." Napoleon makes one handwritten correction to the text, changing the month "January" to "July." In fine condition. A desirable letter illustrating Bonaparte's impressive grasp of economics—a necessity for financing his empire-building.
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