Assignat
Title
Assignat
Relation
https://chnm.gmu.edu/revolution/d/1062/
Identifier
1062
Text
Paper money based on the confiscation of church lands to liquidate the national debt. Originally not legal tender, the assignats were supposed to carry interest, but far too many assignats were issued, thereby undermining the currency, jump- starting inflation, and encouraging the hoarding of specie. Only in May 1797 were the assignats withdrawn from circulation in the hopes of returning to metallic currency and greater economic stability.
Citation
“Assignat,” LIBERTY, EQUALITY, FRATERNITY: EXPLORING THE FRENCH REVOUTION, accessed December 25, 2024, https://revolution.chnm.org/d/1062.