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August 5, 1914 a law was passed...

Автор: olegj от 3-06-2013, 07:46

August 5, 1914 a law was passed...

August 5, 1914 a law was passed abolishing the exchange of notes of the Bank of France for gold and granted it the right to issue notes with a positive course. During the war, gold coins went out of circulation, and the latter was filled with irredeemable notes, reborn in paper money. The issue of these notes was used to finance military expenditures.

The extent of inflation in France during the First

 

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