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Auction: 22066 - Historical Documents, Postal History & Autographs - Featuring the Robin Hunt Collection
Lot: 2037

Revolutionary France
1790-93 Acts (18) passed for the creation and use of assignats, including: the creation of eight hundred million assignats, regarding artists and entrepreneurs who are involved in the production of assignats, arranging payment for those in production, relating to the exchange of small assignats for copper money, relating to charges through criminal courts those involved in the production of fake assignats. Also 1759 two leaves titled "Announcements, Posters, and Miscellaneous Notices" listing land available for purchase or lease. A fascinating bank of material

Notes: To pay debts, the National Assembly issued a bond in 1789 bearing 5% interest using nationalised church lands as security. By 1790 the Assembly agreed to make the assignat into a paper currency with circulation increasing from 400,000,000 livres to 1,200,000,000. The initial economic impact was beneficial though both distrust of paper money and fear that the current revolutionary regime may not last meant that the assignat quickly depreciated.

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