Fiat Money Inflation in France by Andrew Dickson White
page 50 of 91 (54%)
page 50 of 91 (54%)
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and virtuous." He exulted in the fact that "France alone enjoys such
a commerce,--that it exists in no other nation." He poured contempt over political economy as "that science which quacks have corrupted, which pedants have obscured and which academicians have depreciated." France, he said, has something better, and he declared in conclusion, "The needs of the people will no longer be spied upon in order that the commercial classes may arbitrarily take advantage."[49] The first result of the _Maximum_ was that every means was taken to evade the fixed price imposed, and the farmers brought in as little produce as they possibly could. This increased the scarcity, and the people of the large cities were put on an allowance. Tickets were issued authorizing the bearer to obtain at the official prices a certain amount of bread or sugar or soap or wood or coal to cover immediate necessities.[50] But it was found that the _Maximum_, with its divinely revealed four rules, could not be made to work well--even by the shrewdest devices. In the greater part of France it could not be enforced. As to merchandise of foreign origin or merchandise into which any foreign product entered, the war had raised it far above the price allowed under the first rule, namely, the price of 1790, with an addition of one-third. Shopkeepers therefore could not sell such goods without ruin. The result was that very many went out of business and the remainder forced buyers to pay enormous charges under the very natural excuse that the seller risked his life in trading at all. That this excuse was valid is easily seen by the daily lists of those condemned to the guillotine, in which not infrequently figure the names of men charged with violating the _Maximum_ laws. Manufactures were very generally crippled and frequently destroyed, and agriculture was |
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