assignat etymology

Etymology:

• French: "assignat", from Late Latin "assignatus" (assigned)

Meaning:

• A promissory note issued by the French government during the French Revolution as a substitute for money.

Origin:

• The assignats were created in 1789 by the National Assembly as a means of raising funds to finance the government and its military campaigns.
• They were backed by the value of confiscated church and royal lands, which were sold to pay off the debts.
• The name "assignat" was chosen to reflect this connection to assigned collateral.
• The assignats were initially successful, but their value declined rapidly due to over-issuance and loss of confidence in the government.
• By 1796, the assignats had become worthless, and they were ultimately replaced by the franc.
• The assignats played a significant role in the French Revolution, as they both financed the government and contributed to the rise of inflation and economic instability.

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