Louis XVI and the Financial Crisis of France
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Questions and Answers

What was the main financial problem faced by Louis XVI upon his ascension to the throne?

  • An empty treasury due to long years of war and maintaining an extravagant court at Versailles (correct)
  • The cost of helping the thirteen American colonies gain independence from Britain
  • High interest rates charged by lenders on state credit
  • The need to increase taxes to meet regular expenses
  • What effect did the war have on France's debt during Louis XVI's reign?

  • The war had no impact on France's debt
  • The war added more than a billion livres to a debt that had already risen to more than 2 billion livres (correct)
  • The war decreased France's debt significantly
  • The war led to an increase in revenue, reducing France's debt
  • Why did the French government have to spend an increasing percentage of its budget on interest payments?

  • The need to increase taxes to meet regular expenses
  • Lenders who gave state credit began to charge 10 per cent interest on loans (correct)
  • The war added significantly to France's debt
  • The cost of maintaining an extravagant court at Versailles increased
  • Which estate in French society bore the burden of paying taxes in the eighteenth century?

    <p>Only members of the third estate</p> Signup and view all the answers

    What term is usually used to describe the society and institutions of France before 1789?

    <p>Old Regime</p> Signup and view all the answers

    Study Notes

    Financial Crisis of Louis XVI

    • Louis XVI faced a massive debt crisis upon his ascension to the throne, with a large national debt inherited from his predecessors.
    • The debt was exacerbated by France's involvement in the American Revolutionary War, which further increased the national debt.

    Debt and Budgetary Constraints

    • The war led to a significant increase in France's debt during Louis XVI's reign.
    • As a result, the French government had to allocate an increasingly large percentage of its budget to interest payments on the debt.

    Taxation in 18th-Century France

    • The burden of paying taxes in 18th-century France fell heavily on the Third Estate, which consisted of commoners and the middle class.

    Pre-Revolutionary French Society

    • The term "Ancien Régime" is used to describe the society and institutions of France before the French Revolution of 1789.

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    Description

    Explore the reign of Louis XVI, the financial difficulties faced by France, and the role of France in aiding American colonies gain independence from Britain. Learn about the extravagant court at Versailles and the challenges of the Bourbon family of kings.

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