Chapter 20 Flashcards
How did Napoleon establish financial stability?
Tax reforms
Bank of France
New currency
What was the position of French finances by 1799?
Nearly bankrupt again
Had been bankrupt for almost 20 years
What was negative about the power structure of tax reforms?
Central rather than local authority assesses & collects taxes
How did Napoleon reorganise the direct & indirect tax system?
Land tax register for effective collection (those who had land had changer: church & nobles -> Bourgeois)
Central Excise office: tobacco, alcohol, gold, silver, salt
How did Napoleon’s reorganisation of the direct & indirect tax system prove effective?
Revenue up by 400% 1806 - 14
When was the Bank of France established?
What was positive & negative about its accessibility?
1800
N: private, own shareholders
P: given range of public functions
Who had the right to issue paper currency?
When was the Franc issued?
Bank of France
1803
How did the Bank of France give long term stability?
Inflation down
Continued warfare: state spends 700 mill in 1806, 1,000 mill by 1813
Why was the cotton industry growth negative?
No growth in other textiles as central/narrow focus as only for N benefit
What was the problem with iron demands for the war?
No increase in efficiency
Why don’t crop yields increase?
No new techniques
Why was the French economy & industry behind Britain?
15 years of rev while Britain goes through industrial rev
What was the continental blockade?
No trade with or from Britain
Removed British threat of undercutting
Cotton industry booms
How was the continental blockade negative?
Counter blockade
Wars with Spain, Portugal & Russia bc of enforcing it
Less ship building (as trade all inland)
Less export profits
