| | Federal Reserve Bank of Minneapolis - The Region - Causes/Consequences of French Revolution (December 1991) (Site not responding. Last check: ) |
 | | The ultimate depreciation of that currency and the severity of the legal measures used to prop it up have been roundly criticized, but the magnitude of revenues raised via issues of the assignat during the first six years of the Revolution is impressive indeed, and was a key to the survival of the young republic. |
 | | The measures that the revolutionaries took and some of the considerations raised during the deliberations that preceded taking them, were surprisingly modern, in the sense that they present striking parallels with 20th century events and with monetary theories that have been developed during the 1970s and 1980s. |
 | | They discussed and then adjusted the denomination structure of the assignat: because the first assignats were issued in large denominations, small denomination notes were at first supplied by private banks, until the central government reclaimed a monopoly on that activity. |
| www.mpls.frb.org /pubs/region/91-12/reg9112c.cfm (1708 words) |