ABSTRACT
The 'Great Colbert', who would remain the beacon and exemplar of French public finance and administration until the Revolution, died in 1683. His influence continued through Nicolas Desmarets protégés and admirers such as Noailles and the Paris brothers. The Paris brothers completely reformed the collection of direct taxes, oversaw the Visa of 1716 which reduced and consolidated the floating debt inherited from the war, and began the reform of the collection of indirect taxes. This chapter argues that the period of French financial history extending from 1683 to 1726 displays much turmoil, experimentation and innovation. It provides a rapid biographical sketch of the Paris brothers, and emphasizes the innovations in the periods before, during, and after the John Law episode. The chapter also argues that farms offered the advantage of being a source of short-term finance for the government.
