This expression means “that’s it,” “that’s enough” or “we’re all squared up.” It refers to payment and is based on the street “rue Michel le Comte” in the 3rd arrondissement of Paris. This street received its name in 1270. The expression comes from the drivers of horse drawn hackney cabs who were originally based in the nearby rue Saint-Martin, at the Hôtel de Saint-Fiacre, an inn and tavern. They would use it to let their clients know that the client had paid the appropriate fee for their services. Some believe that the expression was popularised by newspaper journalists who worked in rue Réaumur, which is only about four streets away from rue Michel le Comte.

The street rue Michel le Comte was renamed rue Michel-Lepeletier from 1793 to 1806, but was returned to its original name later in 1806. It was aligned with the location of the moat that protected Paris in the time of Philippe-Auguste, who died in 1223. Rue Michel le Comte received its name during the reign of Saint-Louis in 1270.

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