Fiat Money Inflation in France: How it Came, What it Brought, and How it EndedWhite, Andrew Dickson
History
Fiat Money Inflation in France: How it Came, What it Brought, and How it Ended
White, Andrew Dickson
Assignats; Inflation (Finance) -- France -- History
[Footnote 53: For a summary of the report of the Committee, with list of
articles embraced under it, and for various interesting details, see
Villeneuve Bargemont, "Histoire de l'Economie Politique," vol. ii, pp.
213-239; also Levasseur, as above. For curious examples of severe
penalties for very slight infringements on the law on the subject, see
Louis Blanc, "Histoire de la Révolution française," tome x, p. 144.
For Louis XIVth's claim see "Memoirs of Louis XIV for the Instruction of
the Dauphin."]
For a simple exposition of the way in which the exercise of this power
became simply confiscation of all private property in France, see Mallet
Du Pan's "Memoirs," London, 1852, vol. ii, p. 14.]
[Footnote 54: See Du Pont's arguments, as given by Levasseur.]
[Footnote 55: Louis Blanc calls attention to this very fact in showing
the superiority of the French _assignats_ to the old American
Continental currency, See his "Histoire de la Révolution française,"
tome xii, p. 98.]
[Footnote 56: See Sumner, as above, p. 220.]
[Footnote 57: See Levasseur, as above, vol. i, p. 178.]
[Footnote 58: See Cambon's "Report," Aug. 15, 1793, pp. 49-60; also,
"Decree of Aug. 24, 1793," sec. 31, chapters XCVI-CIII. Also, "Tableaux
de la dépréciation de papier monnaie dans le department de la Seine."]
[Footnote 59: For the example of Metz and other authorities, see
Levasseur, as above, vol. i, p. 180.]
[Footnote 60: See Von Sybel, vol. iii, p. 173.]
[Footnote 61: See Thiers; also, for curious details of measures taken to
compel farmers and merchants, see Senior, Lectures on "Results of Paper
Money," pp. 86, 87.]
[Footnote 62: See Von Sybel, vol. iv, p. 231.]
[Footnote 63: See Von Sybel, vol. iv, p. 330; also tables of
depreciation in "Moniteur"; also official reports in the White
Collection; also Caron's "Tables," etc.]
[Footnote 64: For a lifelike sketch of the way in which these exchanges
of _assignats_ for valuable property went on at periods of the rapid
depreciation of paper, see Challamel, "Les français sous la
Révolution," p. 309; also Say, "Economic Politique."]
[Footnote 65: For a very complete table of the depreciation from day to
day, see "Supplement to the Moniteur" of October 2, 1797; also Caron, as
above. For the market prices of the _louis d'or_ at the first of every
month, as the collapse approached, see Montgaillard. See also "Official
Lists" in the White Collection. For a table showing the steady rise of
the franc in gold during a single week, from 251 to 280 _francs_, see
Dewarmin, as above, vol. i, p. 136.]
[Footnote 66: See "Mèmoires de Thibaudeau," vol. ii, p. 26, also
Mercier, "Lo Nouveau Paris," vol. ii, p. 90; for curious example of the
scales of depreciation see the White Collection. See also extended table
of comparative values in 1790 and 1795. See Levasseur, as above, vol. i,
pp. 223-4.]
[Footnote 67: For a striking similar case in our own country, see
Sumner, "History of American Currency," p. 47.]
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