In
1797 a partial bankruptcy was declared, interest payments being
suspended on two-thirds of the public debt, and the _assignats_
were demonetized. The republic faced much the same financial crisis as
had confronted the absolute monarchy in 1789.
[Sidenote: Continued Success in Foreign War]
From but one direction did light stream in upon the Directory--and that
was the foreign war. When the Directory assumed office, France was
still at war with Austria, Sardinia, and Great Britain. The general
plan of campaign was to advance one French army across the Rhine,
through southern Germany, and thence into the Austrian dominions, and
to dispatch another army across the Alps, through northern Italy, and
thence on to Vienna. Of the army of the Rhine such veteran generals as
Pichegru, Jourdan, and Moreau were put in charge. To the command of the
army operating in Italy, the young and inexperienced Bonaparte was
appointed.
[Sidenote: Appearance of Napoleon Bonaparte]
Napoleon Bonaparte hitherto had not been particularly conspicuous in
politics or in war.
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