Economy And Finance

Question 0

What were Louis’s economic aims?

Answer 0

1. Be able to compete with English and Dutch trading
2. Have a larger share of world trade
3. Generate wealth that could be taxed
4. Get France out of recession

Question 1

What were Louis financial aims?

Answer 1

1. Improve efficiency of tax collection
2. Decrease tax evasion and corruption
3. Have budget surplus
4. Ability to pressure foreign policy

Question 2

Why did louis need to make economic reforms in in 1661?

Answer 2

France was in Recession
Needed the money for foreign policy
The belief in mercantilism
To be able to compete with England and the Netherlands

Question 3

What were the successes and failures in Colberts reforms to trade in France?

Answer 3

Successes - eradicate internal tariffs and tolls but only managed in the Cinq Grosse Farms

Failures - tried to encourage nobles to set up trading companies without loosing their title, but many nobles did not believe this.
Most internal tariffs stayed the same

Question 4

What were the successes and failures in Colberts reforms to trade overseas?

Answer 4

Successes - built up merchant navy
Four royal trading companies
Canadian trade increased

Failures - trading companies only last ten years
Lack of trading expertise due to Huguenots not allowed to settle
Protective tariffs meant lack of overseas trade

Question 5

What were the successes and failures of Colberts reforms in communication in France?

Answer 5

Successes - built canal from Bordeaux to the Mediterranean
Improved postal system
Built more roads

Failures - tried to change weights and measures but merchants couldn’t understand them

Question 6

What were the successes and failures of Colberts reforms in industry in France?

Answer 6

Successes - encouraged other workers from other countries with expertises to come and settle in france by using a money incentive.
Appointed inspectors
Monopolies meant a boost in new products

Failures - should’ve improved agriculture first because then more people would be working in the city
Tried to abolish the guilds in France but couldn’t leading to a feeling of dis unity.

Question 7

What was the Financial situation in France in 1661?

Answer 7

Tax collection. Was collected by tax farmers they kept any surplus
The 3rd estate was taxed the most
Pay d etats could negotiate the amount of tax paid with the king
Clergy didn’t pay tax
Indirect tax was used and only the 3rd estate had direct tax
Recession meant that people had less money to pay taxes