Cours forced
The " course forcé" or inconvertibility, unlike the " legal Tender " , is the monetary mode in which the Central bank is exempted to exchange the paper money against Noble metal. In 1914, the suppression of the free convertibility of the currencies made it possible the central banks to protect their stocks from Or and to emit as much paper money than the various governments required it. The Banque de France made " thus; avances" with the Treasury which was employed to pay the various orders what made go the " board with billets". In all the States in war, the increase in the volume of the tickets (fiduciary Inflation) resulted by a rise of the general level of the prices and in a fall of the value of the currency.
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