William Bramley/The Gods of Eden/23/231/0
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< William Bramley/The Gods of Eden | 23 | 231
Revision as of 18:25, 28 August 2012 by Infomaniac (talk | contribs) (Created page with "happened because the banknotes could be redeemed for coins in which the people had faith. After the Bank of France became nationalized, however, it issued a severe overabundance ...")
happened because the banknotes could be redeemed for coins in which the people had faith. After the Bank of France became nationalized, however, it issued a severe overabundance of notes, not just a careful and gradual increase. People quickly realized that there were far more paper notes in circulation than there were coins to back them up. The result was a shattering of popular confidence in the notes and a consequent upheaval of the French economy.
