The Paper Moneys of Europe; Their Moral And Economic Significance
The Paper Moneys of Europe; Their Moral And Economic Significance
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In our eReader you can find the full English version of the book. Read The Paper Moneys of Europe; Their Moral And Economic Significance Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Paper Moneys of Europe; Their Moral And Economic Significance
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To quickly assess the difficulty of the text, read a short excerpt:
Here was a forced currency indeed.^ For a few months an artificial im- 9 R. G. Hawtrey, Currency and Credit* Longmans Green & Co.» London^ 1919* Digitized by Google OF EUROPE 23 provement was effected in the value of the assignat by these ferocious measures; but in 1795, after the Terror, the system and the paper money collapsed. The gold and silver money, which had been hoarded, returned to circulation. In June, 1795, the quotation of the assignat oscillated violently. On one day a louis of 24... livres would buy 450 paper livres, on another, 1000." Paper notes which fluctuated so violently were useless as money. They could not serve either as a medium of exchange or as a measure of value. Country people expressed their contempt for the assignats by calling them V argent de Parts.
A new currency of mandats was tried, «® Hawtrey, op. cit., chap. xv.
Digitized by Google 24 THE PAPER MONEYS into which assignats were made convert- ible. It was a complete failure. The assignats were wound up in 1796, and in February, 1797, there was "a general demonetisation of paper money."" The holders got practically nothing.
What to read after The Paper Moneys of Europe; Their Moral And Economic Significance?
You can find similar books in the "Read Also" column, or choose other free books by Hirst Francis Wrigley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Here was a forced currency indeed.^ For a few months an artificial im- 9 R. G. Hawtrey, Currency and Credit* Longmans Green & Co.» London^ 1919* Digitized by Google OF EUROPE 23 provement was effected in the value of the assignat by these ferocious measures; but in 1795, after the Terror, the system and the paper money collapsed. The gold and silver money, which had been hoarded, returned to circulation. In June, 1795, the quotation of the assignat oscillated violently. On one day a louis of 24... livres would buy 450 paper livres, on another, 1000." Paper notes which fluctuated so violently were useless as money. They could not serve either as a medium of exchange or as a measure of value. Country people expressed their contempt for the assignats by calling them V argent de Parts.
A new currency of mandats was tried, «® Hawtrey, op. cit., chap. xv.
Digitized by Google 24 THE PAPER MONEYS into which assignats were made convert- ible. It was a complete failure. The assignats were wound up in 1796, and in February, 1797, there was "a general demonetisation of paper money."" The holders got practically nothing.
What to read after The Paper Moneys of Europe; Their Moral And Economic Significance?
You can find similar books in the "Read Also" column, or choose other free books by Hirst Francis Wrigley to read onlineMoreLess
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