which unit of currency in france was discontinued in 1794
Which unit of currency in France was discontinued in 1794?
Answer:
In France, the unit of currency that was discontinued in 1794 is the “livre.” Here are the key details to understand the context and background of this currency change:
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Historical Context:
- The livre had been the traditional currency unit in France since the medieval times. It was subdivided into 20 sols, and each sol was further divided into 12 deniers.
- During its long history, the livre underwent various forms, such as the livre tournois and livre parisis.
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French Revolution:
- The French Revolution, which began in 1789, brought about significant economic and social changes in France. This period emphasized the need for a more rational and uniform system of governance, including monetary reform.
- With the political upheaval, the Revolutionary government sought to stabilize the chaotic economic situation of the country. This included reforming the currency system.
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Introduction of the Franc:
- In 1795, following the discontinuation of the livre in 1794, the French government introduced a new currency unit called the “franc.” The franc was seen as a modern and logical replacement, aligned with the republic’s values of equality and rationality.
- The new franc was decimalized, meaning that 1 franc was divided into 10 décimes, and each décime was further divided into 10 centimes, simplifying calculations and transactions.
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Reason for Discontinuation:
- The discontinuation of the livre and the introduction of the franc were driven by the need for economic stabilization and modernization in post-revolutionary France.
- The new currency system was part of a broader set of reforms implemented during the Directoire period to bring order and uniformity to the nation’s finances.
Final Answer:
The unit of currency in France that was discontinued in 1794 was the livre.