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 80: For specimens of counterfeit _assignats_, see the White
Collection in the Cornell University Library, but for the great series
of various issues of them in fac-simile, also for detective warnings and
attempted descriptions of many varieties of them, and for the history of
their Issue, see especially Dewarmin, vol. i, pp. 152-161. For
photographic copies of Royalist _assignats_, etc., see also Dewarmin,
ibid., pp. 192-197, etc. For a photograph of probably the last of the
Royalist notes ever issued, bearing the words "Pro Deo, pro Rege, pro
Patria" and "Armée Catholique et Royale" with the date 1799, and for
the sum of 100 _livres_, see Dewarmin, vol. i, p. 204.]
[Footnote 81: For similar expectation of a "shock," which did not occur,
at the resumption of specie payments in Massachusetts, see Sumner,
"History of American Currency," p. 34.]
[Footnote 82: See Thiers.]
[Footnote 83: See Levasseur, vol. i, p. 246.]
[Footnote 84: For examples of similar effects in Russia, Austria and
Denmark, see Storch, "Economie Politique," vol. iv; for similar effects
in the United States, see Gouge, "Paper Money and Banking in the United
States," also Summer, "History of American Currency." For working out of
the same principles in England, depicted in a masterly way, see
Macaulay, "History of England," chap. xxi; and for curious exhibition of
the same causes producing same results in ancient Greece, see a curious
quotation by Macaulay in same chapter.]
[Footnote 85: For parallel cases in the early history of our own
country, see Sumner, p. 21, and elsewhere.]
[Footnote 86: For a review of some of these attempts, with eloquent
statement of their evil results, see "Mémoires de Durand de Maillane,"
pp. 166-169.]
[Footnote 87: For similar effect of inflated currency in enervating and
undermining trade, husbandry, manufactures and morals in our own
country, see Daniel Webster, cited in Sumner, pp. 45-50. For similar
effects in other countries, see Senior, Storch, Macaulay and others
already cited.]
[Footnote 88: For facts regarding French finance under Napoleon I am
indebted to Hon. David A. Wells. For more recent triumphs of financial
commonsense in France, see Bonnet's articles, translated by the late
George Walker, Esq. For general subject, see Levasseur.]
End of the Project Gutenberg EBook of Fiat Money Inflation in France, by
Andrew Dickson White
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