The War of the League of Augsburg (1688-1697) required the King of France to seek out alternative sources of funds, since the ordinary fiscal resources were insufficient. The monarchy therefore turned once again to the lamentable and controversial practice of monetary manipulations. The 1689 manipulation presented a new character : coins were simply “ reformed” through the stamping of a new symbol indicating their new value. The first “ reformation” of coins was managed by private entrepreneurs who worked with the staff of the monetary administration, while the process was overseen by the Contrôle général des finances. This necessitated the opening of numerous mints and the setting up of a complex management and accounting framework. The process took more time to implement than originally foreseen and its impact on specie circulation was evident. It was nevertheless a success for the state in spite of the malpractices of some of its servants.
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