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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 ...
Bosher, John F. French Finances, 1770–1795: From Business to Bureaucracy (1970) Harris, Seymour E. The Assignats (1930) Spang, Rebecca L., Stuff and Money in the Time of the French Revolution (London and Cambridge, MA: Harvard University Press, 2015). A Cursory View of the Assignats and Remaining Resources of French Finance ... by Francis d ...
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 income statement can be prepared in one of two methods. [4] The Single Step income statement totals revenues and subtracts expenses to find the bottom line. The Multi-Step income statement takes several steps to find the bottom line: starting with the gross profit, then calculating operating expenses. Then when deducted from the gross ...