10 Paoli

The Roman Republic of 1798 was a French-backed revolutionary state that abolished papal temporal authority and introduced a new administrative and monetary order almost simultaneously. These assignat-style paper obligations were issued within weeks of the Republic's proclamation in February 1798, backed in theory by confiscated Church and aristocratic properties — the same logic that had already destroyed the French assignat by this point.

The Republic lasted barely seventeen months before Neapolitan forces and then Napoleon's reorganization swept it away. Notes that survived did so largely outside circulation, since public trust in the paper was negligible from the outset and redemption never followed.