How Did The French Revolution Lead To France's Bankruptcy?

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Louis XVI learns that France is on verge of bankruptcy in 1786. The reason France had so much debt is because they funded the American War of Independence, but America never paid them back. In order to try and save the French economy, Louis XV raised taxes. After multiple failed tax reforms, France continued to go deeper into debt. Over half of France’s annual budget went to paying interest of their increasing debt. Another contributing factor to France’s debt is the fact that they have no national bank or currency set in place. The only source of income for France was taxes, which continued to increase (627).

National Assembly established in 1789. The National Assembly was created in 1789 when the Estates General meeting was called. Three hundred delegates represented the clergy, three hundred represented nobility, and six hundred represented the “Third Estate”. Each estate had one vote to
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The Jacobins supported the revolution and perpetuated it even further. The leader of the group was Maximilien Robespierre. Robespierre furthered the group’s views and presence up until the point the National Convention ordered the arrest of Robespierre and the higher ups in the Jacobins political party. Later Robespierre would be publicly executed ending the partial influence the Jacobins had on the French Revolution (636).

Toussaint I ‘Overture emerges as leader of Haitian revolution 1796. The Haitian war was a war for independence. The Haitians started a slave revolution and that became a revolt to abolish slavery in France. The revolution encouraged revolts in the United States and influenced laws to be established within the United States. The lasting effects the revolution had on France is that they lost Haiti as an income source. With Napoleon losing Haiti, the struggle for the Nation of France to stay afloat got progressively harder

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