Assignat

Assignat, the name given to the French Republican paper money from 1789 to 1796. The notes were issued on the security of the funds due to the government from the confiscated church lands. They were ultimately issued to the number of over 45,000,000,000, but their value sank rapidly so that in 1795 no less than 3,000 were given for a louis d'or, instead of 24.