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The War of the Austrian Succession had just ended, with the French government at the point of bankruptcy. A temporary income tax, the dixième (levied by Louis XIV in 1710 at the rate of one-tenth of annual income), had been levied during the war, but Louis XV had promised that it would be removed with the end of the war.
The French Revolution (French: Révolution française [ʁevɔlysjɔ̃ fʁɑ̃sɛːz]) was a period of political and societal change in France that began with the Estates General of 1789, and ended with the coup of 18 Brumaire in November 1799 and the formation of the French Consulate.
Efficient tax collection was one of the major causes for French administrative and royal centralization in the Early Modern period.The taille became a major source of royal income (roughly half in the 1570s), the most important direct tax of pre-Revolutionary France, and provided for the growing cost of warfare in the 15th and 16th centuries.
Change in per capita GDP of France, 1820–2018. Figures are inflation-adjusted to 2011 international dollars. The economic history of France involves major events and trends, including the elaboration and extension of the seigneurial economic system (including the enserfment of peasants) in the medieval Kingdom of France, the development of the French colonial empire in the early modern ...
Assignats were paper money (fiat currency) authorized by the Constituent Assembly in France from 1789 to 1796, during the French Revolution, to address imminent bankruptcy. They were originally backed by the value of properties now held by the nation; those of the crown taken over on 7 October, and those of the Catholic Church, which were ...
Competing theories exist as to the causes of the conditions the General Maximum was intended to ameliorate. In 1912, the historian Andrew Dickson White suggested that the ever-greater and ultimately uncontrolled issuance of paper money authorised by the National Assembly was at the root of France's economic failure and constituted the cause of its increasingly rampant inflation. [2]
The financial crisis of the French crown played a role in creating the social background to the Revolution, generating widespread anger at the court, and (arguably most importantly) forcing Louis XVI to call the Estates-General. The court was deeply in debt, which in conjunction with a poor financial system, created a crisis. [31]
The French Revolution had a major impact on Europe and the New World. Historians widely regard the Revolution as one of the most important events in European history. [1] [2] [3] In the short-term, France lost thousands of its countrymen in the form of émigrés, or emigrants who wished to escape political tensions and save their lives.