their abuses of power in the late 1700s. throne. Furthermore, the increasingly egregious abuses of power of the monarchy, French nobility and the clergy, combined with a blatantly unfair taxation arrangement did ver… To put it bluntly, I really don’t have time to dig through hundreds of websites and books to carefully document everything that I am writing, but rather I am using my own knowledge that I have picked up from reading books and studying history at high school and university. fashion that so irked the common folk, mammoth costs associated ( Log Out / France’s prolonged involvement in the Seven Years’ War of 1756–1763 drained Why? This blatantly unfair taxation arrangement did little The famine and poor harvests caused the price of bread to skyrocket to the point where people had to choose between starvation and paying their taxes. Aggravating debts of the crown due to going to all the wars etc. ) Thus authorities tried to relax these tensions at the risk of neglecting growth. While I wish I could spend a lot more time researching this topic, it is time that I unfortunately do not have, so while some people may scoff at this suggestion, I would refer you to, When they ran out of money that was collected from the Third Estate they would then borrow money and throw another party. The rise in university fees and the implementation of copayments in the medicare system here in Australia are remarkably similar to the French Aristocracy’s attempts to service the debt of their creation by raising taxes on the Third Estate. France's Debt Problems France's prolonged involvement in the Seven Years' War of 1756–1763 drained the treasury, as did the country's participation in the American Revolution of 1775–1783. The French Revolution and the Global Financial Crisis by David Sarkies is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. That phase of the war concluded when France suffered a crushing defeat at the Battle of Poitiers (September 19, 1356), and John was captured by the English. One of the main causes of revolutions tend to be financial crises: this was the case with Russia, and this was also the case with Germany in 1931. Of the historians that believe the latter, there remains … and refused to contribute any tax revenue to the French But the republic's launching deepened this crisis which undermined the country's money market. From the time of the War of the Spanish Succession (1701–14), when France had been invaded and nearly beaten, French statesmen pursued a double goal—the preservation of the balance of power in Europe and, in the world … These primarily arose from structural deficiencies, rather than lack of resources; unlike Britain, where Parliament determined both expenditures and taxes, in France the Crown controlled spending, but not revenue. His son Louis XVI also failed to improve the condition of the country. The French Revolution occurred because of poor leadership, societal inequality, the ideas of the Enlightenment, poor conditions, and the financial crisis. Yet, by looking at the French Revolution we can also see that revolutions are not without bloodshed. woes, so the country found itself with no credibility. For the Financial Crisis, they never really solved that until Napoleon. financial situation. ( Log Out / acquisition and distribution of government funds, which made the The French royalty in the years prior to the French Revolution Okay, while the Estates General was not really getting anywhere it didn’t mean that they spent their time bickering and arguing amongst themselves. government. money, approached various European banks in search of a loan. Ironically, this “checks and balances” system operated A lot of people say that one of the main causes of the French Revolution was the financial crisis. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. But how did these debts affect the people? across-the-board taxation as the only way to salvage France’s dire in a government rife with corruption and operating without the support The financial crisis which left the door open for revolution began during the American War of Independence, when France spent over a billion livres, the equivalent of the state's entire income for a year. Furthermore, the arrangement Ive looked on the Internet but cant seem to find the stuff that I need Thanks for any help.|||raising taxes, price of grains, etc Posted by financial at 8:51 PM. At first they went around arresting, and then executing, royalists (including the King) but they quickly began to jump at any possible shadow that threatened their perceived freedom, which turned into what was known as ‘, The Committee of Public Safety had taken matters to the extreme with its attempts to dismantle the church and to pretty much execute all of the nobility and their sympathisers. He failed to tax the first and the second estates and the Third Estate was already taxed to its limits. These decades of fiscal irresponsibility were one of the primary factors that led to the French Revolution. accountants had been put in charge of various tasks regarding the during those volatile times. France builds up enormous debt by participating in Change ), You are commenting using your Google account. were tax-exempt, and the parlementswould never irresponsibility were one of the primary factors that led to the In that regard we need to also look at another revolution, one that occurred over two thousand years ago were we see what happens to a democracy when the system grounds to a halt, and that will be the subject of another post –, The French Revolution and the Global Financial Crisis, All images on this post are © and/or ™ their relevant owners. Look, the truth is that people in power really don’t like giving up their power, so the king wasn’t going to go lightly. Almost all the money had been obtained from loans, and the modern world has seen what overstretched loans can do to an economy. Voting processes (each estate had one vote even though the lower class made up approx. To fully understand why the revolution eventually broke out, the financial crisis that plagued France in the late 1780’s must be identified as a significant incident within the course of the revolution. In the late 1700s, France was facing a severe financial crisis due to the immense debt accrued through the French involvement in the Seven Years War (1756–1763) and the American Revolution (1775-1783). Construction projects and the obscene opulence of Versailles strained the budget. of finances in 1783. France realized that it had to address the problem, and fast. A parlement in France was a provincial appellate court. These issues created an incentive for people to rise against France’s unjust government and install a new one; however, the French Revolution also came with consequences. By As a result, the king was virtually powerless at Versailles and the frivolous spending of the queen, Marie-Antoinette, However, things were not all beer and skittles after that because a revolution in France was going to have a disastrous effect upon the surrounding kingdoms. This had a knock-on effect in France because not only were they now at war, but their fledgling democracy was under threat. with the upkeep of King Louis XVI’s extravagant palace A number of ill-advised financial maneuvers So, not only were they mobilising troops to beat back an certain invasion, they also feared rebellion from within. The economic condition of France became poor due to the foreign wars of Louis XIV, the seven years War of Louis XV and other expensive wars. Okay, I could go into the gritty detail of what happened over those few months which culminated in the establishment of the First Republic, but I won’t, except to say that in those first few days France descended into anarchy and the revolution quickly spread from the capital into the provinces which resulted in many of the nobility’s abodes being stormed and looted. The monarchs of the Bourbon dynasty, the The nobility ( Log Out / Then, in 1786, Click to see full answer Also, why was France in a financial crisis? were a study in corruption and excess. Like so much else in the Old Regime, the monarchy’s financial system was inefficient and antiquated.  In the years leading to the French Revolution, France experienced extreme droughts that caused poor harvests and famine. 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