Financial Crisis: 1780's

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  • Created by: ReyaM
  • Created on: 17-06-18 11:59

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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