Chapter

Grain Money in France

December 1966

DOI:10.1016/B978-0-08-011679-2.50105-4

In book: Primitive Money (pp.296-298)

Authors:

This chapter describes use of grain money in France. By 1795, the assignat had ceased to be the standard of value. Precious metals were the recognized standard of value. The fluctuations in the price of gold and that of grain in terms of assignats were practically the same, while the prices of other commodities rose to a different degree. According to a speech by Depute Cresson on 25 November 1795 in the Convention, the price of gold and grain had risen 150-fold while that of meat had risen only 40-fold. In 1785 Depute Jean Bon-St.-Andre proposed to the Convention that the value of goods should be based on grain, the unit to be a quintal of grain. To some extent, grain was in fact adopted for the purpose of tax payments. The degree of 3 Thermidor III (21 July 1795) stipulated that land tax was to be payable half in assignats and half in grain. The determination of its quality and quantity was to be made on the basis of grain prices in 1790.

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