1. A form of paper money issued by the French government during the Revolutionary period (1789–1796), originally backed by confiscated church and émigré lands.
Usage: historical; often used in plural form 'assignats'

Examples

• The French government introduced assignats to finance the Revolution and pay off national debt.
• Assignats were initially backed by the sale of confiscated ecclesiastical property.
• As inflation spiraled, the value of assignats plummeted dramatically.
• Citizens lost confidence in assignats when the government printed them excessively.
• By 1796, assignats had become nearly worthless and were withdrawn from circulation.
• Historians study assignats as an early example of fiat currency and hyperinflation.