Paper-Money Inflation in France: How It Came, What It Brought, And How It Ended ...

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Nothing could be more baseless than such an objection. The war was generally success- ful. It was pushed mainly upon foreign soil. Numer- ous contributions were levied upon the subjugated countries to support the French armies. The war was one of those of which the loss, falling apparently upon future generations, stimulates, in a sad way, trade and production in the generation in being. The main > See "Memoirs of Louis XIV." for the instruction of the dauphin.
' For a simple exposition of the
...way in which the exercise of this power became simply confiscation of all private property in France, see Mallet Du Pan's " Memoirs," London, 1852, vol. ii., p. 14.
' See specimens of these tickets in A. D. W. collection.
48 PAPER-MONEY INFLATION IN FKANCE.
cause of these evils was the old false system of confis- cating the property of an entire nation; keeping all values in fluctuation ; discouraging all enterprise ; par- alyzing all energy ; undermining sober habits ; obliter- ating thrift ; promoting extravagance and wild riot, by the issue of an irredeemable currency.


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