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Fiat Money Inflation in France
Contributor(s): White, Andrew Dickson (Author)

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 ISBN: 1545061165     ISBN-13: 9781545061169
Publisher: Createspace Independent Publishing Platform
OUR PRICE: $11.30  

Binding Type: Paperback - See All Available Formats & Editions
Published: April 2017
Qty:
Additional Information
BISAC Categories:
- History
- Business & Economics | Economics - General
- Business & Economics | Economic History
Physical Information: 0.16" H x 6" W x 9" L (0.25 lbs) 76 pages
Themes:
- Cultural Region - French
 
Descriptions, Reviews, Etc.
Publisher Description:
Notwithstanding the fact that the paper currency issued was the direct obligation of the State, that much of it was interest bearing, and that all of it was secured upon the finest real estate in France, and that penalties in the way of fines, imprisonments and death were enacted from time to time to maintain its circulation at fixed values, there was a steady depreciation in value until it reached zero point and culminated in repudiation. The aggregate of the issues amounted to no less than the enormous and unthinkable sum of $9,500,000,000, and in the middle of 1797 when public repudiation took place, there was no less than $4,200,000,000 in face value of assignats and mandats outstanding; the loss, as always, falling mostly upon the poor and the ignorant. In the attempt to maintain fixed values for the paper currency the Government became involved in an equally futile attempt to maintain a tariff of legal prices for commodities. Here again penalties of fines, of imprisonments and of death were powerless to accomplish the end in view.
 
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