Before 1685 the trade balance with France was in deficit for the colony; Therefore, metal currency is rare there. The settlers then use beaver pelts, foreign exchange (Spanish, Portuguese) and barter.

Intendant Jacques de Meulles is the inventor of card money. He arrived in New France in 1682 and stayed there for four years to solve the problems with the Iroquois. He has to pay his soldiers, but the money is sorely lacking. In the winter of 1685 he no longer had the means to pay them and came up with the idea of ​​setting up card money. “At this point, card money becomes so-called need money,” explains Emmanuel Bernier.

The first issue of card money consists of very small currencies for everyday transactions. However, Versailles is skeptical about this use of maps.

A success

The residents of New France were obliged to return the cards and therefore had to be compensated. This depot works at first, but in the 1690s the cards continued to circulate as people hoarded them; they keep them instead of handing them over to management. So the system is changing. In 1729 card money was an institution. Versailles does without and ends up sending boxes of the same size to cards.

On the other hand, hoarding leads to a lack of money. “In the 1730s, for one of the rare times, Versailles officially allowed the production of card money,” explains Emmanuel Bernier.

After the British conquest, France started a restitution program that lasted 10 to 20 years. “There are tens of millions of dollars printed in the last few years of the colony,” says Emmanuel Bernier. François Bigot, the last director, becomes the scapegoat for the generosity of the administration. “He had to pay out of his own pocket. He was sentenced. »

Finally, Emmanuel Bernier analyzes the impact of the use of card money on New France.