ABSTRACT
Louis XIV’s wars and financial strategies imposed upon the French crown a complex set of short and long-term costs, both financial and political in nature. This chapter focuses on the short-term impact of extended warfare by examining how the Regency government of Louis XV confronted the liquidation of the practically unmanageable debt left by its predecessor. It discusses Louis XIV’s financial strategies in a broader historical perspective. Louis targeted privileged corps by creating or threatening to create redundant offices or privileges. The French monarchy was both unwilling and unable to usher in a full-fledged financial revolution. Louis’ strategy relied on a watered-down combination of administrative effectiveness and political compromise that ended with elements of the financial revolution emerging. As France embarked upon her period of war in 1688, Louis XIV had the advantage of hindsight and avoided the costly politics of conflict that sowed division between the ruling elite and the crown.
