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The Paper Moneys of Europe

Their Moral and Economic Significance

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Published: 1922
Language: English
Wordcount: 7,709 / 31 pg
Flesch-Kincaid Reading Ease: 59.9
LoC Category: CJ
Downloads: 418
Added to site: 2009.07.24
mnybks.net#: 24791
Origin: gutenberg.org
Genre: Non-fiction
Excerpt

icious than that of a private forger. But we have not yet realized, in our minds or in our penal codes, that public vices ought to be punished at least as vigorously as private crimes.

That, even as a desperate last resort for financing war, a flood of paper money defeats its own object was conclusively proved a few years later during the French Revolution. The French assignats "have taken their place in history as the classical example of paper money made worthless by over-issue. After their final collapse in 1796, French finance reverted perforce to a metallic basis." So Mr. Hawtrey, a British Treasury official, who has given us recently a lucid and sufficiently detailed account of this extraordinary incident--extraordinary but no longer singular, for the same course with the same results has been pursued during and since the war of 1914-1918 by Russia and Poland, and in a greater or less degree by most of the European belligerents.

The issue of French assignats began in 1789 because the assem

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While growing up in a military family, R.J. Patterson spent some of his formative years living with his family on the estate of an English baron and baroness. It was there that he developed his passion for good literature. After winning numerous awards for his writing and journalistic work, Patterson left journalism full-time to pursue writing books and now resides in the Pacific Northwest with his wife and four children. He plans to write many more thrilling novels unless the CIA presses him into service to save the world. As our Author of the Day, Patterson tells us everything about his Brady Hawk Box Set.
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