Devaluation Collection

Midas, Transmuting all into [Gold] Paper, pub. 1797 (hand coloured engraving)
2966815 Midas, Transmuting all into [Gold] Paper, pub. 1797 (hand coloured engraving) by Gillray, James (1757-1815); Private Collection; (add.info)

A Man ruined by the depreciation of assignats, 1796 (colour litho)
CHT157329 A Man ruined by the depreciation of assignats, 1796 (colour litho) by French School, (18th century); Musee de la Ville de Paris, Musee Carnavalet, Paris

Bartering in Russia after the collapse of the currency following the Russian Revolution
473612 Bartering in Russia after the collapse of the currency following the Russian Revolution, illustration from La Domenica del Corriere, 1 June, 1919 (colour litho) by Beltrame

Midas Transmuting all into Gold Paper, published by Hannah Humphrey in 1797
NCO190488 Midas Transmuting all into Gold Paper, published by Hannah Humphrey in 1797 (hand-coloured etching) by Gillray, James (1757-1815)

Churchill as Leader of the Opposition in House of Commons
The devaluation debate in the House of Commons: Winston Churchill, then Leader of the Opposition, making a speech in which he accused Sir Stafford Cripps, Chancellor of the Exchequer

ANTI-BOLSHEVIK CARTOON. The Three Stages. 1916: Under the imperial government, 290 million rubles are printed per month. 1917: Under the interim government, 832 million rubles are printed

Hyperinflation of German currency, 1923. The depreciation in value of money made paper notes so worthless that children used them as building blocks

Currency devaluation, conceptual artwork
Currency devaluation, conceptual computer artwork

Burning money, conceptual image
Wasting money, conceptual image. Flames engulfing Euro notes

How John Bull Felt
After surviving the hundred pages of cartoons and skits showered upon him in our recent Special " Falling Pound" Number

A Sovereign Remedy
John Bull holds the hand of a rather unhealthy looking pound note in a satirical illustration which alludes to the falling value of sterling against the dollar in 1920

Will it Come to This
A possible scenario due to the falling value of the pound against the dollar in 1920. A brashly dressed cigar-smoking American changes a dollar at a bank and when asked how he would like it, replies

Nero
A rather drunk looking man smoking a pipe and playing an accordian sits ignoring the British pound note beside him going up in flames

A Gentle Reminder
The Dollar: Say, you two guys are looking a bit chippy; whats happened? The Sovereign & the Franc: Oh, just a bit of a scrap in France, old son: had you forgotten

Golden Grain
A satirical picture of an American reaper with a huge scythe representing the rate of exchange being sharpened with a lathe representing sterling currency

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"From Midas to Banknotes: The Tale of Devaluation" In the enchanting world of mythology, Midas possessed the extraordinary ability to transmute all he touched into shimmering gold. Fast forward to 1797, when Hannah Humphrey published an intriguing hand-coloured engraving titled "Midas Transmuting all into [Gold] Paper. " Little did she know that this artistic depiction would foreshadow a phenomenon that would plague economies for centuries to come. The year was 1796, and another artwork emerged - "A Man ruined by the depreciation of assignats. " This colour lithograph portrayed a man whose fortune had been decimated due to the devaluation of assignats. It marked one of the earliest instances where currency depreciation wreaked havoc on individuals' lives. Centuries later, in post-revolutionary Russia, bartering became commonplace after the collapse of their currency following the Russian Revolution. A stark reminder that even mighty nations could succumb to devaluation's devastating consequences. Fast forward again; we find ourselves amidst Germany's hyperinflation crisis in the early 1920s. Banknotes flooded society with increasing denominations like a five hundred mark banknote or even a twenty million mark banknote. These vividly coloured lithographs represented not wealth but rather an economy spiraling out of control. As if mocking stability further, additional banknotes were introduced - twenty and fifty million mark notes alongside a five million mark note from around 1923. Each piece served as tangible evidence of how rapidly value disintegrated under hyperinflation's grip. Amongst these chaotic times stood a ten thousand mark banknote from 1922 – its recto and verso showcasing vibrant colours yet concealing tales of economic ruin within its intricate design. Similarly haunting was a half-million-mark note from 1923; both reminders that prosperity can vanish as quickly as ink dries on paper. Not far behind, a five million and one million mark banknote from 1923 emerged.