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02 Aug 1875

Page 1

Wilmington Daily Gazette in Wilmington, Delaware

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Newspaper

Wilmington Daily Gazette

Location

Wilmington, Delaware, United States of America

Date

Aug 02, 1875

Page

The French assignats and paper money folly

The article traces the rise and fall of the French assignats born from John Law’s theory of fiat currency. It recalls France’s 1789 decision to mint four hundred million francs in paper, legal tender, backed by land values, spurring rapid depreciation, hoarding, and volatile exchange, with farmers and shopkeepers refusing the currency by 1792.

MENTIONED IN THIS ARTICLE

France South Sea John Law Mississippi French Republic England Paris States General Talleyrand Senate Mirabeau Assembly Morin Dupont de Nemours United States of America London Cambon Congress Washingan Franklin United States Robespierre Directory

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Wilmington & Bale Rains New York Itlec Psunday Praing T ‘Dasa E.cor Ninth & Ghipley Streets Blicaney Billegas & CO Third St. Market House Miles Rosh A. W Mick Thin City Goo Wassingea Ana Poplar Sts Winnaro AVING Bisa Wosk Iit Eee Arctic Ice Company Ppfke-Ko Mead Perort Poplarat Vata Daaly Ion Sratiy Blano Ch Wieese Ain Daily Gazette Serusuep Frieid William Bt Ean Ate Eeaaliccoer Tet Tr Tv Ieee Ams Dona Sas Avery Bayt Tae Pesman Sixth and Lombard Streets Wmington Wate Mananr Oraews Nechanee Pitter Pacifi Coast Horse Medicine Ane Bere Bea James A. Plaxditie Mingtonde DE Gazette Printun Market Street Wilmington Wytees Hotel X. W. Car C.J. Ryle L'Xorizon Shore House Warne Aes Font Arronson New Castle, Delaware Bill Heads Postitheess Dodgers W. Gray Indiana King Hotel 110 Market Street Del Asste John Mealey Orange St Wilmington, del John Avis Bower Wilmington del James Molanar M. Oe. Boyer Sirhia Onco de Hamilton West Slat Street New York City B. Sharp Mark R Movari Shipley Atreet H.W. Ook Third & Shipley Haameet Street D Express Germantown Sneath Oahaat Ismog Treat Dunbar System Norten Bates Nature Instan Ani Smith Dunbar Omico David Woolman Que Vickers Atipricks Wilmington Co. Fanes Coentertown Maryland W. Vickera Attorney AT Law Coastertows Ackoneta Swinss X. Hernanas Grenadines Lawna John Wainwright Market Brrest Ghathbet Old Atand Foola Whittier

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