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PRICE PER SINGLE BANK NOTE.
Assignat, paper bill issued in France as currencyfrom 1789 to 1796, during the French Revolution.
In December 1789, to pay its immediate debts, the National Assemblyissued the assignat as a bond bearing 5 percent interest, with the recently nationalized church lands as security. By September 1790 the Assembly made the assignat into a paper currency. The initial effect of the paper currency was beneficial,stimulating economic growthand eliminating a money shortage. But a deep public distrust of paper money and the fear that the currency would be worthless if the uncertain Revolutionary regime collapsed soon caused the assignat to depreciate.
The outbreak of war with the other European powers in 1792 caused a further decline in the value of the assignat. In 1796 the assignats were replaced by themandats territoraux(land warrants) at the rate of one mandat for 30 assignats. The failure of the mandat to gain public confidence forced the Directoryto return to a metallic currency (February 4, 1797).
Stamped and 3.5" x 3"
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