Description: An Assignat was a type of paper money issued during the French Revolution (1789-1799). The Assignat episode represents a significant economic and financial chapter in the history of the French Revolution.The French government introduced Assignats as a form of paper currency to address the financial crisis it was facing. The Revolution had led to massive state debt, and the government needed a way to raise funds.Assignats were originally backed by the value of confiscated church properties. The government nationalized these properties and then sold them, with the Assignat serving as both a currency and a bond, essentially a claim or a voucher on this land. Over time, the revolutionary government started overprinting the Assignats without the equivalent value in land to back them. This led to rampant inflation. As a result, the value of Assignats depreciated rapidly, and public trust in the currency diminished. By 1796, the Assignats had lost most of their value and were replaced by a new form of currency. Their failure is often cited as an example of the dangers of unbacked currency and hyperinflation.
Price: 92.5 USD
Location: Arlington, Virginia
End Time: 2025-01-21T15:03:35.000Z
Shipping Cost: N/A USD
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Item Specifics
Restocking Fee: No
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 14 Days
Refund will be given as: Money Back
Year: 1793
Type: Banknotes
Country: France
Country/Region of Manufacture: France
