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This book by Andrew Dickson White was originally published in 1912. White was a historian, educator, diplomat and a scholar. The book traces the initiation and ultimate consequences of the paper money in revolutionary France in the 1790s.
It shows the devastating effects of a fiat money money program not only on the french economy but on the moral fiber of the nation. Probably the most interesting aspect of this book is the similarity of the arguments for a fiat money policy to those found in the monetary policy of the United States today. The disastrous consequences of such a policy are clearly shown. It's a reminder that those who ignore history are bound to repeat it.
