entirely reversed whenever the comparison is made not
between mere quantities of men but between their respective
degrees of discipline and training.
But it does not complete the comparison between the
available resources of the two opponents in one most
important particular--finance. The Army Bill Act, passed
at Quebec on August 1, 1812, was the greatest single
financial event in the history of Canada. It was also
full of political significance; for the parliament of
Lower Canada was overwhelmingly French-Canadian. The
million dollars authorized for issue, together with
interest at six per cent, pledged that province to the
equivalent of four years' revenue. The risk was no light
one. But it was nobly run and well rewarded. These Army
Bills were the first paper money in the whole New World
that never lost face value for a day, that paid all their
statutory interest, and that were finally redeemed at
par. The denominations ran from one dollar up to four
hundred dollars. Bills of one, two, three, and four
dollars could always be cashed at the Army Bill Office
in Quebec. After due notice the whole issue was redeemed
in November 1816. A special feature well worth noting is
the fact that Army Bills sometimes commanded a premium
of five per cent over gold itself, because, being
convertible into government bills of exchange on London,
they were secure against any fluctuations in the price
of bullion. A special comparison well worth making is
that between their own remarkable stability and the
equally remarkable instability of similar instruments of
finance in the United States, where, after vainly trying
to help the government through its difficulties, every
bank outside of New England was forced to suspend specie
payments in 1814, the year of the Great Blockade.
CHAPTER III
1812: OFF TO THE FRONT
President Madison sent his message to Congress on the
1st of June and signed the resultant 'war bill' on the
18th following. Congress was as much divided as the nation
on th