Revolutionary France printed money backed by church land, then wallpapered with it

In 1789 France issued assignats, paper currency backed by seized Catholic Church land, to pay off state debt. Printing accelerated to fund war and welfare spending, and by 1796 the assignat had lost over 99% of its value. Legend says worthless notes ended up used as wallpaper and toilet paper before the currency was abolished.

— S. E. Harris, The Assignats — Harvard University Press, 1930