Financial Crisis: 1780's
- Created by: ReyaM
- Created on: 17-06-18 11:59
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Reforms and impact of Necker, Calonne and Brienne
Necker:
- Was a popular figure as he was able to raise loans therefore avoiding taxation
- First in office as finance minister from 1777-1781
- Helped finance the American War of Independance through loans
- Dismissed in 1871 by Louis, replaced by Fleury
Calonne:
- In office from 1783 until 1787
- Borrowed more heavily than Necker had done
- By 1786 borrowing was no longer viable, began a process of tax reformation
- His plan:
Introducing a single land tax that would be paid by all 3 estates
Removing internal customs…
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