Consolidated Third would be redeemable for national lands; similar to what the Assignat was originally before it became a paper currency The value of these bonds was only one third of the value of the national debt, thus being a form of Debt consolidation. This would represent a repudiation of most of the state's debt, and a bankruptcy of two-thirds of the debt, leading to the euphemism of the remaining being a consolidated third. Consolidated Third The Consolidated Third (French: "le tiers consolidé") is the name given in France to the 1797 repudiation of public debt of which only one third was
Ladder of thirds Ladder of thirds A ladder of thirds (coined by van der Merwe 1989, adapted from Curt Sachs) is similar to the circle of fifths, though a ladder of thirds differs in being composed of thirds, major or minor, and may or may not circle back to its starting note and thus may or may not be an interval cycle. Triadic chords may be considered as part of a ladder of thirds. It is a modal frame found in Blues and British folk music. Though a pentatonic type, the melodies come "into being through piling up thirds below and/or above a