1.3 economics & royal finance Flashcards
(24 cards)
When did industrial production double between?
1751 and 1771
What happened between 1715 and 1771?
Commerce increased almost tenfold
What is an example of an improved agricultural technique?
Crop rotation
What did the French merchants trade (from the slave trade) ?
Cotton & Sugar
What did an event in July 1788 lead to?
A hailstorm destroyed grain crops leading to the worst harvest in 40 years
Where is an example of a place where wealth was concentrated?
Marseilles
When was Turgot controller-general?
1774-1776
Turgot was a physiocrat. What does that mean?
He focused on agriculture & farming so promoted a free system.
What trade did Turgot get with Dutch bankers?
4% interest
What did Turgot do in 1774 and what did it lead to?
He attempted to establish ‘free grain trade’ which led to the ‘Flour Wars’
What did Turgot publish in 1776?
The Six Edicts - Abolish privilege, tax all & work without restriction
When was Necker Director of General Finance?
1777-1781
How many tax farmers did Necker reduce?
60 -> 40
When did Necker publish the Compte Rendu au Roi?
1781
How many copies of Necker’s budget statement were bought?
100,000
What lie did Necker tell in his budget statement?
He said France had a ‘surplus of 10 million’ but there was actually a defecit of 1.1-1.4 billion livres from the American War
When was Calonne Controller-General?
1783-1787
What was Calonne’s job before being Controller-General?
He was Flanders’ intendant
What happened regarding Louis in December 1785?
He summoned the Paris Parlement to let them pass high interest loans
What did Calonne’s 1786 reform package include?
Abolishing vingtiemes & ending the corvee royale
What was the defecit in 1786?
112 million livres (1/4 of their yearly income)
When did Calonne declare banktrupcy to Louis?
20th August 1786
When was Brienne Controller-General?
1787-1788
What are 2 amendments Brienne made to Calonne’s package?
He changed the corvee royale into a tax & made a central treasury for all the money
