assignats


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assignats

Paper currency issued during the Revolution which depreciated rapidly.
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How odd to find that even this industry has its financial panics, and at times sees its assignats and greenbacks languish to zero, and everything come to a standstill.
While still a few steps from the officer she unfolded the kerchief and took out of it a white twenty-five-ruble assignat and hastily handed it to him.
All students of the French Revolution are familiar with the assignats, the paper money first issued by the nascent National Assembly in 1790 and the wide economic turmoil caused by its runaway inflation over the following years.
The official mind and public opinion seemed only to fear the extreme banking experiences of John Law, of the assignats, or of paper money in the American Colonies.
Perhaps some viewers might have been reminded of the forged assignats produced by Britain between 1793 and 1795 as a furtive means of further debasing France's economy, but in this print Cruikshank reveals the fear that British bank notes might meet with the same desperate fate as French paper money.
She is best known for her theatrical portraits of actors and fellow artists, but she supplemented her commissions by speculating on assignats during the Revolution.
The results have been disastrous, and this is particularly so with the repeated experiments with inconvertible or fiat paper currencies such those of medieval China, John Law and the assignats in 18th century France, the continentals of the Revolutionary War, the greenbacks of the Civil War, and, most recently, in modern Zimbabwe.
In 1793, an exchange control known as "the Law of the Maximum" was enforced, decreeing that "any person selling gold or silver coin, or making any difference in any transaction between paper and specie, should be imprisoned in irons for six years; that anyone who refused to accept payment in assignats, or accepted assignats at a discount, should pay a fine of six thousand francs and suffer imprisonment for twenty years in irons" (Hamilton, 1977, p.
Cameron (1974: 118-119) indica la dificultad y el lastre de futuro que supone para la economia francesa el proceso de desmonetarizacion de los assignats en 1796.
All the same, it should be noted that property that had already been sold was reimbursed in vastly depreciated assignats and vouchers redeemable only on the purchase of emigre property, thereby stripping the gesture of much of its monetary worth.
Second, the return of France to a gold-backed currency after Her years of trying to manage the disastrous hyperinflation of the assignats, moreover, pulled specie from Britain back to France.
Por su parte el propio consul estaba metido en actividades contrarrevolucionarias en Tolon (conquistado por espanoles e ingleses) al proponer al nuevo secretario de Estado, Godoy, un plan para emitir moneda francesa y assignats falsos, que habian de financiarse con creditos a bajo interes a pedir en Genova (106).