State any five causes of the empty treasury of France under Louis XVI.
Five causes of the empty treasury of France
1. Long years of war had drained the financial resources of France. Added to this was the cost of maintaining an extravagant court at the immense palace of Versailles.
2. Under Louis XVI, France helped the thirteen colonies to gain their independence from the common enemy, Britain.
3. The war added more than a billion livres to a debt that had already risen to more than 2 billion livres.
4. Lenders, who gave the state credit, now began to charge 10 percent interest on loans.
5. To meet its regular expenses, such as the cost of maintaining an army, the court, running government offices or universities.
