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 68: See Villeneuve Bargemont, "Histoire de l'économie
politique," vol. ii, p. 229.]
[Footnote 69: See Von Sybel, vol. iv, pp. 337, 338. See also for
confirmation Challamel, "Histoire Musée," vol. ii, p. 179. For a
thoughtful statement of the reasons why such paper was not invested in
lands by men of moderate means, and workingmen, see Mill, "Political
Economy," vol. ii, pp. 81, 82.]
[Footnote 70: See Von Sybel, vol. iv, p. 222.]
[Footnote 71: See especially Levasseur, "Histoire des classes
ouvrières," etc. vol. i, pp. 219, 230 and elsewhere; also De Nervo,
"Finance française," p. 280; also Stourm, as already cited. The exact
amount of _assignats_ in circulation at the final suppression is given
by Dowarmin, (vol. i, p. 189), as 39,999,945,428 _livres_ or _francs_.]
[Footnote 72: For details of the mandat system very thoroughly given,
see Thiers' "History of the French Revolution," Bentley's edition, vol.
iv, pp. 410-412. For the issue of _assignats_ and _mandats_ at the same
time, see Dewarmin, vol. i, p. 136; also Levasseur, vol. i, pp. 230-257.
For an account of "new tenor bills" in America and their failure in
1737, see Summer, pp. 27-31; for their failure in 1781, see Morse, "Life
of Alexander Hamilton," vol. i, pp. 86, 87. For similar failure in
Austria, see Summer, p. 314.]
[Footnote 73: See Marchant, "Lettre aux gens de bonne foi."]
[Footnote 74: See Summer, p. 44; also De Nervo, "Finances françaises,"
p. 282.]
[Footnote 75: See De Nervo, "Finances françaises," p. 282; also
Levasseur, vol. i, p. 236 et seq.]
[Footnote 76: See Table from "Gazette de France" and extracts from other
sources in Levasseur, vol. i, pp. 223-4.]
[Footnote 77: Among the many striking accounts of the debasing effects
of "inflation" upon France under the Directory perhaps the best is that
of Lacretelle, vol. xiii, pp. 32-36. For similar effect, produced by the
same cause in our own country in 1819, see statement from Niles'
"Register," in Sumner, p. 80. For the jumble of families reduced to
beggary with families lifted into sudden wealth and for the mass of
folly and misery thus mingled, see Levassour, vol. i, p. 237.]
[Footnote 78: For Madame Tallien and luxury of the stock-gambler
classes, see Challamel, "Les français sous la Révolution," pp. 30, 33;
also De Goncourt, "Les français sous le Directoire." Regarding the
outburst of vice in Paris and the demoralization of the police, see
Levasseur, as above.]
[Footnote 79: See Levasseur, Vol. i, p. 237, et seq.]
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