The Reign of Terror continues—8 Vendemiaire Year II: The National Convention, of the Republic of France, passes the Law of the General Maximum, freezing wages and prices, prohibiting hoarding of all goods sold in the republic.

       Postscript: This led to shortages, rationing and inevitably a spy system to insure compliance.  Penalties were extremely harsh: the death penalty was imposed on either party seeking to pay at a discount in lawful Money (gold or silver Coin) instead of legal tender (paper Assignats).

      [updated 6/12/2026]