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

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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From failing insurrections in Paris and the establishment of a new regime known as the Directory, the key drivers of the assignat were on their way out.

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The political instability, coupled with public mistrust, prompted a rush to spend the assignat, which led to hyper-inflation, according to Rouanet.

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