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Almanach Royal, Annee Bissextile 1792 - ECONOMICS DUBUISSON Pierre-Paul - 1792. 
1792 - (ECONOMICS) (DUBUISSON, Pierre-Paul). Almanach Royal, AnnĂ©e Bissextile M.DCC.XCII. Paris: Testu, . Octavo, contemporary full crimson morocco, gilt coat of arms of La Caisse d'Escompte on both boards, elaborately gilt-decorated spine and boards, raised bands, silk endpapers, all edges gilt. Housed in a custom morocco clamshell box. $22,000.French Almanach Royal for 1792, issued only one year before the execution of Louis XVI and Marie-Antoindette, a rare volume displaying the gilt armorial coat of arms of La Caisse d'Escompte, controversial predecessor to the Banque of France, founded in 1776 and ended amidst revolutionary unrest one year after publication of this alamanac, with elaborate gilt tooling by plaque of celebrated royal binder Pierre Paul Dubuisson.This volume, which displays the magnificent armorial gilt coat of arms of La Caisse d'Escompte, is a splendid example of the exceptional skill of one of the most famed bookbinders of the age, Pierre Paul Dubuisson, who became the official bookbinder to King Louis XV in 1758. Dubuisson is credited with the invention of gold tooling by plaque; each design featuring elaborate borders that leave a central space for the owner's armorial coat of arms, in this instance that of La Caisse d'Escompte, predecessor to the Banque of France and the French Treasury Department. Following the failure of a tentative Caisse d'Escompte in 1767, "Finance Minister Turgot established by government decree another Caisse d'Escompte in 1776. This institution was empowered to discount bills of exchange and commercial paper at 4 percent, buy and sell gold and silver, and act as the government's bank". By 1783 the fiscal crisis of the Ancien Regime had deepened, and the Caisse and its stockholders became captives of the French government". The state absorbed virtually all the financial capital of the Caisse. In August public confidence crumbled, panic erupted, and the Caisse had to redeem 33 million livres in bank notes before the panic subsided". Panic broke out again in August 1788". The government came to the aid of the Caisse by making its bank notes legal tender. It also authorized the redemption of bank notes in discounted commercial paper. The Caisse advanced more funds to the government before revolution broke out in July 1789. The revolutionary government continued to receive advances as the National Assembly debated proposals to transform the Caisse into a national bank. The National Assembly issued its own paper money, the infamous assignats, and the Caisse received payment in these inconvertible, legal tender notes. The Caisse wobbled on, still making advances to the government, until August 1793 when the revolutionary government took over its assets". The first two French experiments with public banking, the Banque Royale and the Caisse d'Escompte, ended in hyperinflation". Despite two unhappy experiences with public banks, France under Napoleon established the Bank of France, and the organization of the Bank of France strongly influenced the design of the Federal Reserve System in the United States" (Encyclopedia of Money). The sumptuous binding of this rare volume features one of the plaque models attributed to Dubuisson and identified by Edouard Rahir: No. 184k (Livres dans de riches reliures, plate 38). This official Almanach Royal for 1792, one of a yearly series founded by Laurent d'Houry and subsequently issued by Testu, chronicles the births, marriages and deaths of French royalty, and a record of members of officials in the revolutionary AssemblĂ©e Nationale, along with extensive coverage of other governmental, legislative and cultural officials. With folding frontispiece map; title page with engraved royal coat of arms. Text in French. Olivier, 1620. See Calantaris, Manuel 284:figure 10. Tiny bit of penciled marginalia to verso of front free endpaper.Interior generally fresh with light scattered foxing, minor rubbing, faint soiling to front board. A highly desirable near-f [Attributes: First Edition; Hard Cover]
[Bookseller: Bauman Rare Books]
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