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- Title
THE FRANC IN WAR AND RECONSTRUCTION.
- Authors
Miller, Harry E.
- Abstract
This article presents information on the depreciation of franc by comparing the books "The French Franc, 1914-28. The Facts and Their Interpretation," by E.L. Dulles and "The Process of Inflation in France, 1914-27," by J.H. Rogers. Dulles has provided a history of financial policy a record and appraisal of the specific events which marked the course of the inflation. Her book provides discussions of general theory. Whereas Rogers' work focuses on the data concerning the inflation and seeks to reveal their quantitative and causal interrelations. According to the author, in explaining the depreciation of the franc the two writers agree on the fact that the budget was the starting point of France's difficulties. Dulles finds that the cost of reconstruction and the heavy burden imposed by the large internal debt were the fundamental source of the disturbances. She also considered that budgetary deficits, in addition to being the prime cause of the increase in the volume of circulating media, had very important psychological effects. Rogers, too, finds the genesis of the events in the treasury deficits, and it is with these that his statistical study begins.
- Subjects
FRANCE; FRANC (French currency); DEPRECIATION; FRENCH Franc, 1914-1928: The Facts &; Their Interpretation, The (Book); PROCESS of Inflation in France, 1914-1927, The (Book); DULLES, E. L.; ROGERS, J. H.; PRICE inflation; CAPITAL losses
- Publication
Quarterly Journal of Economics, 1930, Vol 44, Issue 3, p523
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1885794