1) Survey the history of the financial crisis of 1848, and its relation to the revolutions of that year. 2) Consider the impact of monetary reform as a policy response to financial and civic crisis. This case documents the rise of the Bank of France as the nation's central bank, and of its banknotes as the official paper currency of the country. In addition, this is an early instance of intervention by a central bank as the lender of last resort. 3) Profile the main ideological positions of actors during the crisis, and relate those positions to propose remedies for the crisis. 4) Understand the symbiotic relationship between social and financial crises. While this relationship is complex, this case presents a clear situation in which social unrest and political instability did not simply follow the financial meltdown but rather sparked and fueled the crisis itself. 5) Assess the thesis of Daron Acemoglu and James A. Robinson that liberal institutions act as shock absorbers in crisis. When used in combination with "The Financial Crisis of 1847 (A) and (B)" (UVA-F-1930 and UVA-F-1931), this case on the revolutions of 1848 confronts students with the question of why revolution came to France and other nations on the European continent but not to Britain.