Every schoolboy in France and Navarre knows John Lowe, at least by name. You must pronounce “Las,” our teachers insisted, because that’s what the French called it three centuries ago. This Scottish economist and banker went down in history for trying to introduce a paper money system in France instead of precious metals, gold and silver. Such a revolution has nothing to envy our amazing cryptocurrencies. Which, it was hoped, would break the double curse from which the country suffered: the monetary crisis (insufficient liquidity) and the financial crisis (huge national debt after the death of Louis XIV in 1715). The project, started during the regency of Philippe d’Orléans, unfortunately failed, ending in 1720. Bankruptcy of lawThe title of a devotional book by the iconic 4th-century minister Edgar Fauree and Ve Republic:
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The latter, however, is regarded by John Lowe as “The founder of the monetary economy, the most original minister in the history of France
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Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.