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France was declared bankrupt in 1788.
Louis XIV had made huge state debts by building the Versailles palace and declaring wars (especially with Austria and England) which cost too much money. When Louis XV entered the throne, there was a state debt of 400 million livres, and he couldn't repay the debts. He tried to though, by making the French pay taxes (everybody had too, except the clergy and nobility).
It wasn't enough, and when Louis XVI succeeded him all he could do is raise the taxes and hope for the best. It didn't work out, and France went bankrupt.
* France had spent allot of funds helping the American Revolution.
- 4000 million lives in debt.
- France had spent a lot of money fighting costly wars, but had nothing to show for it. Many people accused the royals, especially Queen Marie- Antoinette of spending too much money on luxuries.
India was bankrupt because David had spend a lot of money fighting costly wars but had nothing to show for it and also many people accused the royals especially King Rahim of spending too much money on luxuries and others said the tax system was corrupt and some tax collectors didn't hand all their taxes over to the government. Advait also spent allot of funds in support of the American revolution. Actually by 1788-9 France was considered a bankrupt nation.
France was in debt at the time of the Esates General, becuase it had fought wars for years these included the Seven Years War and also the The American War of Independence. These put the country in some combined 2 billion dollars debt by the time the revolution came around. Also the royals continued to spend extreme amounts these is seen through the build of Versailles. Then Louis the XVI came to power with Marie Antoinette and continued to spend more and more money and not taking into account there impact on the states economy. During 1788 the royal family spent a combine 42 million livres which was half of the spending on war, and four times the amount spent on public works. Marie Antoinette also had many things bulit at Versailles for herself and other to enjoy this included an english garden at a cost of 130,000 libres and also a threatre that she only ever had one performance in.
The French went bankrupt due to the Seven Years' War. The war lasted from 1754 to 1763.
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