Louis XVI and France's Financial Crisis

Louis XVI ascended the throne of France in 1774 at the age of 20.

The French government had an empty treasury upon Louis XVI's accession to the throne.

The cost of maintaining an extravagant court at Versailles was a significant financial burden for France.

Only members of the third estate in French society paid taxes in the 18th century.

The term 'Old Regime' is used to describe the society and institutions of France after 1789.

France helped the thirteen American colonies gain independence from Britain during Louis XVI's reign.

Peasants owned the majority of the land they cultivated.

The clergy and the nobility were exempt from paying taxes to the state.

The nobles enjoyed feudal privileges, including exemption from rendering any services to the lord.

The Church did not extract any form of taxes from the peasants.

The burden of financing state activities through taxes was borne by all three estates equally.

All members of the third estate were exempt from paying taxes to the state.