1795 ⟶ Assignat Plummets, Crippling French Finances
October 23: The assignat falls to just three percent of its ...
Year
1795
1796
📉 Assignat Plummets, Crippling French Finances
October 23: The assignat falls to just three percent of its nominal value. Twenty billion (20,000,000,000) notes in circulation.⟶
AssignatCurrencyInflationEconomic CrisisFrench FinancesFinancial CollapseRevolutionary GovernmentDirectoryMonetary PolicyPaper Money
📉 Assignats Devalued and Withdrawn from Circulation
February 19: The government stops issuing assignats, which have lost most of their value. Thirty-nine billion (39,000,000,000) are in circulation.⟶
French RevolutionAssignatsCurrencyInflationEconomic CrisisFinancial PolicyGovernment DebtMonetary PolicyEconomic InstabilityBankruptcy
📉 Mandats territoriaux Issued and Rapidly Devalue
March 18: The Directory replaces the assignat with two billion four hundred million Mandats territoriaux, which can be used to purchase nationalized property. Within three weeks they lose eighty percent of their value.⟶
CurrencyInflationFinancial CrisisDirectoryNationalized PropertyEconomic PolicyAssignatMandats territoriauxFrench Revolution