Causes of The French Revolution - Transparency

Transparency

H. F. Helmolt argued that the issue was not so much the debt per se, but the way the debt was refracted through the lens of Enlightenment principles and the increasing power of third-estate creditors, that is, commoners who held the government's paper.

Properly speaking, the people ought to have been accustomed to the fact that the French government did not fulfill its financial obligations, for since the time of Henry IV, that is, within two centuries, it had failed to meet its obligations fifty-six times. In earlier days such catastrophes had not been announced and publicly discussed. Now all France, which for two generations had been worked upon by the party of rationalism, shared the outcry against the financial situation.

The struggle with the parlements and nobles to enact reformist measures displayed the extent of the disintegration of the Ancien Régime. In short order, Protestants regained their rights, and Louis XVI was pressured to produce an annual disclosure of the state of his finances. He also pledged to reconvene the Estates-General within five years. Despite the pretense that France operated under an absolute monarchy, it became clear that the royal government could not successfully implement the changes it desired without the consent of the nobility. The financial crisis had become a political crisis as well, and the French Revolution loomed just beyond the horizon.