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by Andrew Dickson White (Author)
Fiat Money Inflation In France is a historical account of the economic crisis that took place in France during the 18th century. Written by Andrew Dickson White, the book describes the events that led to the inflation of paper money and the eventual collapse of the French economy. The book begins with an overview of the French monetary system before the crisis, which was based on gold and silver coins. However, due to the financial strain of the Seven Years' War and other factors, the French government began to issue paper money that was not backed by any precious metal. This led to a rapid increase in the money supply and a corresponding decrease in the value of the currency.As the value of the currency plummeted, prices for goods and services skyrocketed, leading to social unrest and economic chaos. The book provides a detailed account of the various attempts by the French government to stabilize the economy, including the introduction of new currency and price controls. However, these efforts were largely unsuccessful, and the crisis continued to worsen.Fiat Money Inflation In France is a valuable resource for anyone interested in the history of economics or the French Revolution. It provides a detailed and engaging account of a pivotal moment in French history, and offers insights into the dangers of uncontrolled inflation and the importance of sound monetary policy.The question will naturally be asked, On whom did this vast depreciation mainly fall at last? When this currency had sunk to about one three-hundredth part of its nominal value and, after that, to nothing, in whose hands was the bulk of it? The answer is simple. I shall give it in the exact words of that thoughtful historian from whom I have already quoted: ""Before the end of the year 1795 the paper money was almost exclusively in the hands of the working classes, employees and men of small means, whose property was not large enough to invest in stores of goods or national lands.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.
