The French Revolution was one of the most traumatic events in human history. Over seven million people may have died as a result.
The immediate reason was the financial crisis caused by French support for the American Revolution. France invested 2 billion pieces of silver to win the war. Her tax system could only support the government during peace. A war called for extraordinary measures. This was the beginning of the first phase of the revolution, which is referred to as the Aristocratic Revolution. The aristocrats saw this crisis as an opportunity to reassert their power.
The French Finance Minister, Necker (1776-1781) didn't use new taxation to finance the war, he borrowed the money. In 1781, he published the Compte Rendu which was the first budget the people of France had ever seen. It showed a budget surplus of ten million pieces of silver and Necker was hailed as a hero of the Enlightenment throughout Europe. His budget, however, was a fabrication. France was......
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