FRENCH REVOLUTION MONEY 1793 Historical Banknote Collectible

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PRICE PER SINGLE BANK NOTE.<br>Assignat<br>, paper bill issued in France as currency<br>from 1789 to 1796, during the French Revolution.<br>In December 1789, to pay its immediate debts, the National Assembly issued 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 growth and 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.<br>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 the<br>mandats territoraux<br>(land warrants) at the rate of one mandat for 30 assignats. The failure of the mandat to gain public confidence forced the Directory to return to a metallic currency (February 4, 1797).<br>Stamped and watermarked.<br>Watermarked.<br>Size: 3.5" x 3"<br>See other items.<br>