Bordo, Michael D.; White, Eugene N. - 2021
standard and endured a sustained inflation, France remained on a bimetallic standard for the war's duration. For wars of … inflation tax although in practice it was not a major source of wartime finance. France, on the other hand, had squandered her … Empire's fidelity. Moreover, the recent experience of assignat hyperinflation ruled out the inflation tax as a source of …