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war finance

戦費 ／ war-finance　—　Institutions

What a war costs.

Denarius of the horseman (Bolskan) Denarius of the horseman (Bolskan)2nd century BC to the early 1st century BC Billon denier tournois (debased issue) Billon denier tournois (debased issue)1295–1303 Agnel d'or (the gold lamb) Agnel d'or (the gold lamb)1311
A photograph of the real thing this term names.

⚠ This may be the most frequently recurring term in this school. Debasement, the over-issuance of banknotes, the suspension of convertibility, the invention of public bonds — most of these arose from the question of how to finance war expenses.