assignat

[as-ig-nat, a-see-nya]

noun

French History.

plural

assignats 

1. one of the notes issued as paper currency from 1789 to 1796 by the revolutionary government on the security of confiscated lands.

assignat

/ ˌæsɪˈnjɑː, asiɲa, ˈæsɪɡˌnæt /

noun

1. French history the paper money issued by the Constituent Assembly in 1789, backed by the confiscated land of the Church and the émigrés

Word History and Origins

Origin of assignat¹

1780–90; < French < Latin assignātus assigned (past participle of assignāre ). See assign, -ate ¹

Word History and Origins

Origin of assignat¹

C18: from French, from Latin assignātum something appointed; see _assign

Example Sentences

While Mr. Bird discusses at length a failed Massachusetts land bank’s misadventures with printing mortgage-backed currency, Mr. Albertus doesn’t even mention the assignat, issued during the French Revolution and backed by land taken from church and crown.

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Mr. Albertus is right that the French Revolution was a “turning point in human history,” not merely the event that gave us the assignat.

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Rouanet's analysis found that political instability and shifting public expectations were key in explaining the scenario that unfolded between May 1794 and May 1796, when the French revolutionary governments' decision to issue a paper currency called the assignat led to extreme inflation.

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To stimulate purchases, the government began issuing a paper currency called assignat.

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In order to prevent inflation, revolutionary officials promised to retire the assignat from circulation and burn the notes once they were used to buy property, but this commitment was not always honored, prompting public mistrust.

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