Upon his and accession in 1774, louis xvi found an empty treasure. what were the reasons behind the financial crisis in france? mention three reasons.
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Louis XVI ascended the throne of France after his marriage with Marie Antoinette in the year 1774 . He faced financial crisis due to the following reasons:
- France was helping 13 American colonies to gain independence from their common enemy British.
-France had borrowed money from money lenders who were now charging 10% more interest
- The cost of maintaining all government institutions and an extravagant palace at Versailles.
All these reasons forced the king to impose taxes on the people of France.
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