I think it applies to what we are doing today. and I think the causes which made this thing happen are the same causes which are making us change our feelings with regard to regulation and the extension of OPA. This statement is entitled "The Law of the Maximum": The tragic collapse of public and private prosperity in France at the close of the eighteenth century is familiar to any student of the period. Historians of the times Invariably point to the excessive issuance of paper money secured by the confiscated lands of emigrants. royalty. and the church as the basic cause for this economic disaster. Closer inspection of the period. however. reveals it to be one in which many economic experiments were attempted by the "planners" of the French socialistic revolutionists in an effort to meet the difficulties which arose not only as a result of a cheap currency but also because of diminished production consequent upon the interruptions of industry and general disorder due to the War of Revolution. One of the most important and disastrous of these experiments was the attempt to fix a maximum beyondwhich the prices of the necessities of life could not advance.
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emigrants