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The Revolution resulted from multiple long-term and short-term factors, culminating in a social, economic, financial and political crisis in the late 1780s. [ 3 ] [ 4 ] [ 5 ] Combined with resistance to reform by the ruling elite , and indecisive policy by Louis XVI and his ministers, the result was a crisis the state was unable to manage.
The financial crisis of the French crown played a role in creating the social background to the Revolution, generating widespread anger at the court, and (arguably most importantly) forcing Louis XVI to call the Estates-General. The court was deeply in debt, which in conjunction with a poor financial system, created a crisis. [31]
The Demonstration of 20 June 1792 (French: Journée du 20 juin 1792) was the last bloodless attempt made by the revolutionaries of Paris to persuade King Louis XVI of France to abandon his current policy and adopt a more compliant role in the escalating frenzy of the French Revolution.
The Banque de France founded in 1796 helped resolve the financial crisis of 1848 and emerged as a powerful central bank. The Comptoir National d'Escompte de Paris (CNEP) was established during the financial crisis and the Republican revolution of 1848. Its innovations included both private and public sources in funding large projects and the ...
The silk industry in 1789 was in crisis, reflecting the wider economic crisis afflicting France at that time. The city was visited by the keen eyed English documentary writer Arthur Young in December of that year: he estimated that 20,000 people were living from charity and starving. [2] Tax riots broke out in June 1789 and again in July 1790.
In 1793, the French Revolution caused wars with Austria, Prussia, Great Britain and Spain. The government continued to function during the economic and political crises by a series of loans, bonds and tax increases; an increasingly large amount of paper money issuance was a vain attempt to stimulate the economy. [8]
The French Revolution of 1830, also known as the July Revolution (French: ... "The Economic Crisis of 1827–32 and the 1830 Revolution in Provincial France".
The French economy was in continual crisis during the Directory. At the beginning, the treasury was empty; the paper money, the Assignat, had fallen to a fraction of its value, and prices soared. The Directory stopped printing assignats and restored the value of the money, but this caused a new crisis; prices and wages fell, and economic ...