La Révolution et les banques en France : de la Caisse d'escompte à la Banque de France

Plessis, Alain

doi:10.3406/reco.1989.409182

Cited by 4 publications

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“…Indeed, its days were counted with the approaching French revolution. However, as noted for example by Plessis (1989Plessis ( , 1009Plessis ( -1010, the Banque de France closely followed the template of the Caisse d'Escompte, and its statutes would have been written by six banking houses of Paris who all had been engaged in the Caisse d'Escompte.…”

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

“…In 1790 the Bank was fully reimbursed by the Government and could resume convertibility. In 1792, it could still play an important role as LOLR in the Paris financial crises triggered by the revolution of enslaved workers in St. Domingo, and it would have saved in particular one major bank from illiquidity (Plessis, 1989(Plessis, , 1006, i.e. would have acted as LOLR.…”

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

“…• Special measures to support its success. According to for example Plessis (1989Plessis ( , 1004Plessis ( -1005, the Government played an important role in both the initial creation of the bank and in its actual kick-off in 1778: it would have sponsored its establishment, and in 1778 Turgot "invited the principal banks of Paris to subscribe 1500 shares of 3000 pounds each, which had still not been subscribed. As of this moment, all big Paris bank names (…) are part of its Administrative Council, and she [the Caisse d'Escompte] becomes the 'bank of the bankers'.…”

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

“…• How and why the bank ceased operations: The radicalisation of the revolution led to the closure of the bank in August 1793 (Plessis, 1989(Plessis, , 1007. However, the Banque de France, created in 1800, followed the model of the Caisse d'Escompte and may be considered as its reestablishment under a new name.…”

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

“…Sources: Mirabeau (1785), Caisse d'Escompte (1789), Gaudot (1789), Duclos-Dufresnoy (1789), Say (1848), Courtois (1875, 68-79), Bigo (1927), Harsin (1933, 83-89), Marion (1934), Roberds and Velde (2014, 66-69). The general context of French banking in the years around the revolution is discussed for example in Plessis (1989). Mirabeau (1785, 127-139).…”

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

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Early French and German Central Bank Charts and Regulations

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Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

Section: [Prohibition To Export Precious Metal]mentioning

confidence: 99%

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confidence: 99%

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Between Independence and Impunity: The Theory of Proto-Central Banking After the Crisis of 1720

Jackson¹

2020

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While traveling through Italy in August of 1728, Montesquieu paid a visit to John Law in his Venetian exile. Law was a Scottish gambler and convicted murderer who had risen to briefly serve as Contrôleur général des finances, and in that capacity had launched an unprecedented attempt to centralize and reform the French financial and fiscal order, which ended in the world's first international financial crisis in 1720. 1 That centralization project, which he called his "System," hinged on two components: first, swapping government debt for equity in his Mississippi Company, which centered around his bank and which increasingly consolidated more and more components of the French state; and second, the printing of paper money from his bank, which he used partly to buy up other monopolies, and partly to support the price of his company's stock. His project collapsed in the summer of 1720 amid hyperinflation and a run on his bank. The flight of capital from France helped inflate a stock market bubble in London, centering around the South Sea Company's own debt-for-equity swap. That bubble collapsed in the winter when the South Sea Company was exposed as a fraud and a pyramid scheme. Though often separated in national historiographies, the bubbles in Paris and London were linked by practices, people, and capital into a single financial event, with repercussions from Louisiana to Lisbon to Leipzig. 2 The year after the crisis, Montesquieu had portrayed Law in the Lettres persanes as a manipulative wizard-king and as the profligate son of the wind god Aeolus, which have since become the canonical representations of Law in historical memory. 3 Law must have forgiven him, because Montesquieu reports that they

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Some Pre-1800 French and German Central Bank Charters and Regulations

Bindseil

2018

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La Révolution et les banques en France : de la Caisse d'escompte à la Banque de France

Cited by 4 publications

References 0 publications

Early French and German Central Bank Charts and Regulations

Early French and German Central Bank Charts and Regulations

Between Independence and Impunity: The Theory of Proto-Central Banking After the Crisis of 1720

Some Pre-1800 French and German Central Bank Charters and Regulations

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