Summary
Summary Economic + financial issues of the Directory
- Course
- Institution
Notes on the economic + financial issues of the Directory of the French Revolution
[Show more]
Seller
Follow
zoejhowell
Reviews received
Content preview
Economic + Financial IssuesWhat had the Thermidorians done which might have affected the economy and finances:
Decentralised- law on Revolutionary Government
New representants-en-mission
Got rid of price controls- Law of Maximum repealed
Peace treaties signed to end external war
Printed paper assignats-leading to inflation and grain hoarding
Bad harvest (not their fault)
Directory’s issues:
By the end of 1795 assignats were virtually worthless
- Thermidorians attempt to switch from a system of economic control to more liberal
environment had resulted in acute inflation
Inherited a badly unbalanced budget due to war and problems of tax collection
Food supply issues due to hoarding and bad harvest 1795
Trade hindered by war and British naval attempts to control French colonial trade and
blockade their ports
Problem Directory’s solution Directory’s level of success
Assignats virtually Switch from paper to metal Mandats rapidly counterfeited + value
worthless currency continued depreciated so badly that within a
Made one last attempt at paper year they were worth virtually nothing
by introducing mandats- type of + had to be withdrawn
land purchase bond similar to Metal coins became only legal
assignats currency but though inflation halted,
- In Feb 1796 800million lack of coinage in circulation brought
francs-worth of mandats deflation which hindered trade
issued to replace the The attempt at controlling currency
24billion francs-worth of laid groundwork for Bank of France
assignats in circulation set up under Napoleon in 1800
Unbalanced budget + tax Taxation system reorganised by Made assessment + collection of
collection problems finance Minister Vincent Ramel in direct taxation more efficient
1798 Issuing of mandats wrote off 2/3 of
Introduced new property taxes to government debt; although their
address budgetary issues + cover collapse destroyed the creditors who
shortfall between income + bought them, the Directory could
expenditure claim it had finally achieved a balance
Revived the octrois taxing goods of payements surplus in 1797+1798
entering towns At expense of alienating boh creditors
+ tax payers among bourgeoisie +
Directory relied on bourgeoisie for
political support
Food supply issues due to In 1795 weights + measures were Positive long-term effect; helped by
hoarding + bad harvest standardised better harvests in 1796 + 1789, price
of grain brought down
Trade hindered by war + Successes of French armies for War success
British attempts to control most Directory’s period meant Unlike part-conscripted, part-
French colonial trade + that plunder + tribute helped volunteer armies of Jacobin
blockade their ports play a part in filling France’s dictatorship, Directory relied on pro
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller zoejhowell. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.89. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now