Good money presupposes good rulers. It is only then that the corrupting influence of money is checked and true prosperity can be established. This was the case of King Saint Louis IX (1214-1270). His reign is remembered as the time of “good money” because of the justice that he administered and the value that it retained.
Author Nicholas Mayhew in his book, Coinage in France from the Dark Ages to Napoleon (1988) writes:
“The years after the death of Louis IX proved difficult. Fluctuating metal values, competition between mints on an international scale and the costs of war, all led to debasement, and men came to look back on the coinage of Louis IX with nostalgia for a time when money and coinage were simple, straightforward and sound. Like the king himself, Louis’ money was practically canonized, and came to be used as the standard against which all other money was to be measured.”