The Winter of 1794 1795

On december 20 fourth 17 94, the national convention repealed the general maximum. But as was the luck of french freemarket enthusiasts during the revolutionary period, they abolished the maximum just as europe was headed into one of its worst winters on record. The winter froze all the rivers and this not only ground the internal transportation system to a halt, but it also shut down all the mills. In january 17 95, people were literally dropping dead of starvation in the streets. As the paper flew off the presses, hyper inflation took hold. By the spring of 17 five assignon will be trading at just eight % face value. It would never recover from this. Crippling lack of