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Fiat Money Inflation in France, How It Came, What It Brought, And How It Ended
The question will naturally be asked, On whom did this vast depreciation mainly fall at last? When this currency had sunk to about one three-hundredth part of its nominal value and, after that, to nothing, in whose hands was the bulk of it? The answer is simple. I shall give it in the exact words of that thoughtful historian from whom I have already quoted: "Before the end of the year 1795 the paper money was almost exclusively in the hands of the working classes, employees and men of small means, whose property was not large enough to invest in stores of goods or national lands.
120 pages, Paperback
First published January 1, 1933
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About the author
Andrew Dickson White
840 books8 followersAmerican educator and diplomat Andrew Dickson White founded Cornell University with Ezra Cornell and served as its first president from 1868 to 1885 and also served as ambassador of United States to Germany from 1897 to 1902.
https://en.wikipedia.org/wiki/Andrew_...
https://en.wikipedia.org/wiki/Andrew_...
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