A Tale of Two Currencies: British and French Finance During the Napoleonic Wars
拿破仑战争期间，英国虽放弃金本位、大量举债并引发通胀，法国却采取更正统的财政政策，这源于英国强大的信誉使其政策更灵活，而法国因声誉不佳被迫依赖税收。
The record of British and French finance during the Napoleonic wars presents the striking picture of a financially strong nation abandoning the gold standard, borrowing heavily, and generating inflation, while a financially weaker country followed more “orthodox” policies. This paradoxical behavior is explained by Britain's strong credibility that allowed more flexible policies, while France's poor reputation forced reliance on taxation.