r. Louis XV+Duke of Orleans+Cardinal Fleury+John Law (1 jan 1715 ano – 1 jan 1774 ano)

Descrição:

Louis XV ruled France, with the Duke of Orleans as his regent until he reached maturity and later Cardinal Fleury.

Orleans caused nobles to reappear and parlements, especially the Parlement of Paris, reasserted themselves, regaining many powers Louis XIV had taken away.

John Law, a Scottish economist, founded a central bank and organized a Compagnie d’Occident (Mississippi Company) which obtained a monopoly of trade with Louisiana and soon absorbed all French colonies under his management. France assumed government debt and embarked on a project of making taxation fairer for the taxpayer and more lucrative for the government, but a frenzy of speculation resulted in a sharp break in the market. France lacked an adequate banking system after Law’s dissolved. They repudiated debts, which was financially disastrous. Nobles continued to evade taxes. The monarchy had little credit and the government was crippled.

Louis then appointed Cardinal Fleury. He didn't make drastic changes but didn't make much worse. He authorized the continuation of the codification of civil law that had begun under Louis XIV and the institution of fiscal reforms that enabled French finances to recover from the costly wars of Louis XIV. He also defused tensions with foreign powers.

France had lost land and money to the wars. To hopefully gain it back, they supported the American Revolution, which eventually only made it worse.

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