Besides receiving taxes, they pay the creditors of the state in their departments, conduct all operations affecting departmental loans, buy and sell government stock (rentes) on behalf of individuals, and conduct certain banking operations.
Perpetual 3% rentes 888,870,400
Terminable 3% rentes 148,490,400
I In 1894 the rentes then standing at 43/4% were reduced to 33/4%, and in 1902 to 3%.
The Constituent Assembly, by the law dated the 22nd of November 1790, decided that in future there should be no appanages in real estate, and that younger sons of monarchs, married and over twenty-five years of age, should be provided for by yearly grants (rentes apanageres) from the public funds.
Etienne Pascal, who had bought some of the hotel-de-ville rentes, protested against Richelieu's reduction of the interest, and to escape the Bastille had to go into hiding.