Note 1416 — Chapter VIII · (continued 2)

Bourgoing, not aware of Ripperda's priority, says (Tableau de l'Espagne Moderne, vol. ii. p. 49), ‘L'idée de la banque nationale fut donnée au gouvernement par un banquier français, M. Cabarrus.’ Compare Rio, Historia del Reinado de Carlos III., vol. iv. pp. 122, 123: ‘Banco nacional de San Cárlos; propúsolo Cabarrús, apoyólo Floridablanca, y sancionólo el Soberano por Real cedula de 2 de junio de 1782.’ This sounds well; but the inevitable catastrophe soon came. ‘Charles IV.,’ says the Prince of the Peace, ‘had just ascended the throne; the bank of St. Carlos was rapidly falling, and on the verge of bankruptcy.’ Godoy's Memoirs, London, 1836, vol. i. p. 124.