Banknotes acquire legal tender in France
If a banknote is « legal tender », this means that it must be accepted for any settlement, just like metal coins. The legal tender of Banque de France banknotes was lifted in 1850 and finally restored in 1870. Furthermore, in 1848, the Banque de France imposed « forced currency » dispensing the Banque de France from the obligation to reimburse in cash the banknotes that it received. This obligation was, however, restored several times, before being finally withdrawn in 1936.