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 Public Debt in France in the 19th century


François R. VELDE * Économiste, Département de recherche économique, Federal Reserve Bank of Chicago. Contact : fvelde@frbchi.org.

In this article, we review the history of the French public debt during the long 19th century, from the consulate to the great war. We evaluate the importance of this debt and the main lines of its evolution by linking it to budget surpluses. Finally, we present the range of financial instruments used by the Fench government and the main methods of debt management.