Hostname: page-component-5db58dd55d-h5th4 Total loading time: 0 Render date: 2026-06-15T20:40:33.236Z Has data issue: false hasContentIssue false

A Tale of Two Currencies: British and French Finance During the Napoleonic Wars

Published online by Cambridge University Press:  03 March 2009

Michael D. Bordo
Affiliation:
The authors are Professors of Economics, Rutgers University, New Brunswick, NJ 08903
Eugene N. White
Affiliation:
The authors are Professors of Economics, Rutgers University, New Brunswick, NJ 08903

Abstract

The record of British and French finance during the Napoleonic wars presents the striking picture of a financially strong nation abandoning the gold standard, borrowing heavily, and generating inflation, while a financially weaker country followed more “orthodox” policies. This paradoxical behavior is explained by Britain's strong credibility that allowed more flexible policies, while France's poor reputation forced reliance on taxation.

Information

Type
Papers Presented at the Fiftieth Annual Meeting of the Economic History Association
Copyright
Copyright © The Economic History Association 1991

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable