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Sale 122
Lot 1682
France. 20 Francs, 1831-A (Paris). Fr-553a; KM-739.1. Variety with incuse edge lettering. Weight 0.1867 ounce. Louis Philippe I. PCGS graded AU-53. In special PCGS Ship of Gold holder which contains One Pinch of Gold Dust recovered from the S.S. Central America treasure.
Special PCGS number 674252.53/35474712. Estimated Value $500 - UP
In 1831, King Louis-Philippe, who had been brought to power by the July Revolution of the preceding year, showed his resolve in dealing with industrial revolts that threatened to destabilize southwestern France as well as with the ongoing Belgian Revolution. The latter had broken out in 1830 as an attempt to create a largely French-speaking independent kingdom of Belgium distinct from the United Kingdom of the Netherlands, but when Dutch forces crossed into Belgium on 2 August 1831 and won several victories, France unilaterally entered the conflict on the side of Belgium on 9 August. This development potentially threatened the balance of power in Europe, but fortunately Prussia and Russia, the allies of the Netherlands, were unable to offer support at the time. Without allied military assistance, the Dutch could not take on the French army and therefore agreed to a full ceasefire on 12 August and evacuated Belgium by August 20. All of this served to make Louis-Philippe look like a strong, although perhaps somewhat careless, king.
The failing French economy led to the great reduction in pay for the canuts (contracted silk weavers and their apprentices) in the environs of Lyons. In an effort to save their livelihood they enlisted the aid of the regional government in negotiating a fixed price for silkwork with the manufacturers. However, when many manufacturers refused to pay the established price, on 20 November the canuts stopped work and marched to Lyons to air their grievances. After a clash with military forces that left 600 dead and injured, they occupied the city on the next day. Louis-Philippe dispatched an army of 20,000 men to retake Lyons, but warned against executions lest it create outrage against the young July Monarchy. The army entered Lyons without firing a shot, installed a garrison, and abolished the fixed price for silkwork-all of which was attributed to a natural "recognition of the king." However, but realizing the potential of this discontent among the canuts, republicans in Paris immediately dispatched agents to Lyons to create secret societies within the silk labor associations. These would ultimately contribute to the overthrow of the July Monarchy and the creation of the Second French Republic in the February Revolution of 1848.
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| Realized $1,320 |
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