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How did tge american war of …

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How did tge american war of independence add more debt to france
  • 1 answers

Yogita Ingle 6 years, 11 months ago

  • How did the American war of independence add more debt to France
  • In addition to this, France assisted the thirteen American colonies to get independence from Britain.
  • This increased the debt to another one billion livres. Hence the moneylenders started charging a higher rate of interest of upto 10 per cent.
  • This made the French government to spend further on interest payments alone.
  • Thus in order to meet the recurring expenses, the state was obliged to increase taxes.
  • The French society was divided into three estates and only the third estate members were required to pay taxes.
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