may 15, 1781 - Compte redu au Roi

Description:

1781 —> Compte Rendu au Roi
Royal accounts published by Necker — concealing French debts
report to the king —> assessment of French finances to the King
Used in a semi-public way —> shown to lenders (to show France is a safe country to lend to)
the assessment claims surplus of 10 million livre
reality =
46 million in deficit
3 billion debt
Consequences:
French Revolution 17
Necked gained support —> seen as increasing transparency + accountability
Financiers willing to loan further to France — needed to continue involvement in American
Revolutionary War
Problems later — really just increasing state debt
Great shock + concern when truth revealed later (about desperate economic situation)

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