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Cheaper spirits
07/02/2018 -In Fredman’s epistle no. 24, the poet Carl Michael Bellman hails deflation as it is making aquavit cheaper. Times are bad! People are sad - but with a lower nicker comes cheaper liquor…...
Tumba Bruk is founded
07/02/2018 -The Riksbank wishes to put an end to counterfeit banknotes. One way is to manufacture paper that is difficult to copy. So the bank starts its own paper mill at Tumba.
Anckarström shoots the king
07/02/2018 -Gustav III is murdered by a borrower who has made large losses due to the king’s manipulation of the value of money.
Military defeat leads to banking crisis
07/02/2018 -While the war is going well, many people deposit money in the Bank of the Estates of the Realm (Sveriges Riksbank). But when they attempt to withdraw it, following the defeat at Poltava, there is no money to be had. The Bank simply freezes its...
The silver standard is reintroduced
07/02/2018 -Many previous attempts had been made to stabilise the value of money by making it possible to redeem banknotes for silver. This does not succeed until the reign of Charles XIV Johan. ...
New policy creates inflation
07/02/2018 -When the Hats took power, it was the end for the cautious economic policy that had long been pursued. The new policy caused inflation to soar.