Why was the treasary empty in french revolution
Answers
He found that the treasury was empty. The financial resources of France had drained due to the long years of war. ... Under Louis XVI, France helped the 13 American colonies to gain independence from the common enemy, Britain. The war added more than a billion livres (then France currency) to the debt.
The following were the reasons of an empty Treasury when Louis XVI ascended the throne:
> Long years of war had drained the financial treasury of France
> France helped the 13 American colonies to hain independence from their common enemy, Britain.
>The cost of maintaining the extravagant court at the immense palace of Versailles was huge.
> Only the 3rd estate was paying taxes, not the 1st and 2nd which included clergy and nobility respectively.
> Lenders started putting 10% interest on loans