Means For Carrying The Proposed Plan Into Execution,
Each canton shall elect in its primary assemblies, three persons, as commissionersfor that canton, who shall take cognizance, and keep a register of all mattershappening in that canton, conformable to the charter that shall be establishedby law for carrying this plan into execution.
II. The law shall fix the manner in which the property of deceased personsshall be ascertained.
III. When the amount of the property of any deceased persons shall be ascertained,the principal heir to that property, or the eldest of the co-heirs, if oflawful age, or if under age, the person authorized by the ill ofthe deceased to represent him or them, shall give bond to the commissionersof the canton to pay the said tenth part thereof in four equal quarterlypayments, within the space of one year or sooner, at the choice of the payers.One-half of the whole property shall remain as a security until the bondbe paid off.
IV. The bond shall be registered in the office of the commissioners of thecanton, and the original bonds shall be deposited in the national bank atParis. The bank shall publish every quarter of a year the amount of thebonds in its possession, and also the bonds that shall have been paid off,or what parts thereof, since the last quarterly publication.
The national bank shall issue bank notes upon the security of the bondsin its possession. The notes so issued, shall be applied to pay the pensionsof aged persons, and the compensations to persons arriving at twenty-oneyears of age. It is both reasonable and generous to suppose, that personsnot under immediate necessity, will suspend their right of drawing on thefund, until it acquire, as it will do, a greater degreeof ability. In this case, it is proposed, that an honorary register be kept,in each canton, of the names of the persons thus suspending that right,at least during the present war.
VI. As the inheritors of property must always take up their bonds in fourquarterly payments, or sooner if they choose, there will always be numeraire arriving at the bank after the expiration of the first quarter, to exchangefor the bank notes that shall be brought in.
VII. The bank notes being thus put in circulation, upon the best of allpossible security, that of actual property, to more than four times thea mount of the bonds upon which the notes are issued, and with numeraire continually arriving at the bank to exchange or pay them off wheneverthey shall be presented for that purpose, they will acquire a permanentvalue in all parts of the Republic. They can therefore be received in paymentof taxes, or emprunts equal to numeraire, because theGovernment can always receive numerairefor them at the bank.
VIII. It will be necessary that the payments of the ten per cent be madein numeraire for the first year from the establishmentof the plan. But after the expiration of the first year, the inheritorsof property may pay ten per cent either in bank notes issued upon the fund,or in numeraire.
If the payments be in numeraire , it will lie asa deposit at the bank, be exchanged for a quantity of notes equalto that amount; and if in notes issued upon the fund, it will cause a demandupon the fund equal thereto; and thus the operation of the plan will createmeans to carry itself into execution.