Fig. 278.--Salut d'Or. Charles VI.]

On the accession of Louis X., in 1315, war against the Flemish was imminent, although the royal treasury was absolutely empty. The King unfortunately, in spite of his father's advice, attempted systematically to tamper with the coinage, and he also commenced the exaction of fresh taxes, to the great exasperation of his subjects. He was obliged, through fear of a general rebellion, to do away with the t.i.the established for the support of the army, and to sacrifice the superintendent of finances, Enguerrand de Marigny, to the public indignation which was felt against him. This man, without being allowed to defend himself, was tried by an extraordinary commission of parliament for embezzling the public money, was condemned to death, and was hung on the gibbet of Montfaucon. Not daring to risk a convocation of the States-General of the kingdom, Louis X. ordered the seneschals to convoke the provincial a.s.semblies, and thus obtained a few subsidies, which he promised to refund out of the revenues of his domains. The clergy even allowed themselves to be taxed, and closed their eyes to the misappropriation of the funds, which were supposed to be held in reserve for a new crusade. Taxes giving commercial franchise and of exchange were levied, which were paid by the Jews, Lombards, Tuscans, and other Italians; judiciary offices were sold by auction; the trading cla.s.s purchased letters of n.o.bility, as they had already done under Philippe le Bel; and, more than this, the enfranchis.e.m.e.nt of serfs, which had commenced in 1298, was continued on the payment of a tax, which varied according to the means of each individual. In consequence of this system, personal servitude was almost entirely abolished under Philippe de Long, brother of Louis X.

Each province, under the reign of this rapacious and necessitous monarch, demanded some concession from the crown, and almost always obtained it at a money value. Normandy and Burgundy, which were dreaded more than any other province on account of their turbulence, received remarkable concessions. The base coin was withdrawn from circulation, and Louis X.

attempted to forbid the right of coinage to those who broke the wise laws of St. Louis. The idea of bills of exchange arose at this period.

Thanks to the peace concluded with Flanders, on which occasion that country paid into the hands of the sovereign thirty thousand florins in gold for arrears of taxes, and, above all, owing to the rules of economy and order, from which Philip V., surnamed the Long, never deviated, the att.i.tude of France became completely altered. We find the King initiating reform by reducing the expenses of his household. He convened round his person a great council, which met monthly to examine and discuss matters of public interest; he allowed only one national treasury for the reception of the State revenues; he required the treasurers to make a half-yearly statement of their accounts, and a daily journal of receipts and disburs.e.m.e.nts; he forbad clerks of the treasury to make entries either of receipts or expenditure, however trifling, without the authority and supervision of accountants, whom he also compelled to a.s.sist at the checking of sums received or paid by the money-changers (Fig. 279). The farming of the crown lands, the King's taxes, the stamp registration, and the gaol duties were sold by auction, subject to certain regulations with regard to guarantee. The bailiffs and seneschals sent in their accounts to Paris annually, they were not allowed to absent themselves without the King's permission, and they were formally forbidden, under pain of confiscation, or even a severer penalty, to speculate with the public money. The operations of the treasury were at this period always involved in the greatest mystery.

[Ill.u.s.tration: Fig. 279.--Hotel of the Chamber of Accounts in the Courtyard of the Palace in Paris. From a Woodcut of the "Cosmographie Universelle" of Munster, in folio: Basle, 1552.]

[Ill.u.s.tration: Fig. 280.--Measuring Salt.--Fac-simile of a Woodcut of the "Ordonnances de la Prevoste des Marchands de Paris," in folio: 1500.]

[Ill.u.s.tration: Fig. 281.--Toll under the Bridges of Paris.--Fac-simile of a Woodcut of the "Ordonnances de la Prevoste des Marchands de Paris," in folio: 1500.]

The establishment of a central mint for the whole kingdom, the expulsion of the money-dealers, who were mostly of Italian origin, and the confiscation of their goods if it was discovered that they had acted falsely, signalised the accession of Charles le Bel in 1332. This beginning was welcomed as most auspicious, but before long the export duties, especially on grain, wine, hay, cattle, leather, and salt, became a source of legitimate complaint (Figs. 280 and 281).

Philip VI., surnamed _de Valois_, a more astute politician than his predecessor, felt the necessity of gaining the affections of the people by sparing their private fortunes. In order to establish the public revenue on a firm basis, he a.s.sembled, in 1330, the States-General, composed of barons, prelates, and deputies from the princ.i.p.al towns, and then, hoping to awe the financial agents, he authorised the arrest of the overseer, Pierre de Montigny, whose property was confiscated and sold, producing to the treasury the enormous sum of 1,200,000 livres, or upwards of 100,000,000 francs of present currency. The long and terrible war which the King was forced to carry on against the English, and which ended in the treaty of Bretigny in 1361, gave rise to the introduction of taxation of extreme severity. The dues on ecclesiastical properties were renewed and maintained for several years; all beverages sold in towns were taxed, and from four to six deniers in the pound were levied upon the value of all merchandise sold in any part of the kingdom. The salt tax, which Philippe le Bel had established, and which his successor, Louis X., immediately abolished at the unanimous wish of the people, was again levied by Philip VI., and this king, having caused the salt produced in his domains to be sold, "gave great offence to all cla.s.ses of the community." It was on account of this that Edward III., King of England, facetiously called him the author of the _Salic_ law. Philippe de Valois, when he first ascended the throne, coined his money according to the standard weight of St. Louis, but in a short time he more or less alloyed it. This he did secretly, in order to be able to withdraw the pieces of full weight from circulation and to replace them with others having less pure metal in them, and whose weight was made up by an extra amount of alloy. In this dishonest way a considerable sum was added to the coffers of the state.

King John, on succeeding his father in 1350, found the treasury empty and the resources of the kingdom exhausted. He was nevertheless obliged to provide means to continue the war against the English, who continually hara.s.sed the French on their own territory. The tax on merchandise not being sufficient for this war, the payment of public debts contracted by the government was suspended, and the State was thus obliged to admit its insolvency. The mint taxes, called _seigneuriage_, were pushed to the utmost limits, and the King levied them on the new coin, which he increased at will by largely alloying the gold with base metals. The duties on exported and imported goods were increased, notwithstanding the complaints that commerce was declining. These financial expedients would not have been tolerated by the people had not the King taken the precaution to have them approved by the States-General of the provincial states, which he annually a.s.sembled. In 1355 the States-General were convoked, and the King, who had to maintain thirty thousand soldiers, asked them to provide for this annual expenditure, estimated at 5,000,000 _livres parisis_, about 300,000,000 francs of present currency. The States-General, animated by a generous feeling of patriotism, "ordered a tax of eight deniers in the pound on the sale and transfer of all goods and articles of merchandise, with the exception of inheritances, which was to be payable by the vendors, of whatever rank they might be, whether ecclesiastics, n.o.bles, or others, and also a salt tax to be levied throughout the whole kingdom of France." The King promised as long as this a.s.sistance lasted to levy no other subsidy and to coin good and sterling money--i.e., _deniers_ of fine gold, _white_, or silver coin, coin of _billon_, or mixed metal, and _deniers_ and _mailles_ of copper. The a.s.sembly appointed travelling agents and three inspectors or superintendents, who had under them two receivers and a considerable number of sub-collectors, whose duties were defined with scrupulous minuteness. The King at this time renounced the right of seizin, his dues over property, inherited or conveyed by sale, exchange, gift, or will, his right of demanding war levies by proclamation, and of issuing forced loans, the despotic character of which offended everybody. The following year, the tax of eight deniers having been found insufficient and expensive in its collection, the a.s.sembly subst.i.tuted for it a property and income tax, varying according to the property and income of each individual.

[Ill.u.s.tration: Fig. 282.--The Courtiers ama.s.sing Riches at the Expense of the Poor.--From a Miniature in the 'Tresor of Brunetto Latini, Ma.n.u.script of the Fourteenth Century, in the Library of the a.r.s.enal, Paris.]

The finances were, notwithstanding these additions, in a low and unsatisfactory condition, which became worse and worse from the fatal day of Poitiers, when King John fell into the hands of the English. The States-General were summoned by the Dauphin, and, seeing the desperate condition in which the country was placed, all cla.s.ses freely opened their purses. The n.o.bility, who had already given their blood, gave the produce of all their feudal dues besides. The church paid a tenth and a half, and the bourgeois showed the most n.o.ble unselfishness, and rose as one man to find means to resist the common enemy. The ransom of the King had been fixed at three millions of _ecus d'or,_ nearly a thousand million francs, payable in six years, and the peace of Bretigny was concluded by the cession of a third of the territory of France. There was, however, cause for congratulation in this result, for "France was reduced to its utmost extremity," says a chronicler, "and had not something led to a reaction, she must have perished irretrievably."

King John, grateful for the love and devotion shown to him by his subjects under these trying circ.u.mstances, returned from captivity with the solemn intention of lightening the burdens which pressed upon them, and in consequence be began by spontaneously reducing the enormous wages which the tax-gatherers had hitherto received, and by abolishing the tolls on highways. He also sold to the Jews, at a very high price, the right of remaining in the kingdom and of exercising any trade in it, and by this means he obtained a large sum of money. He solemnly promised never again to debase the coin, and he endeavoured to make an equitable division of the taxes. Unfortunately it was impossible to do without a public revenue, and it was necessary that the royal ransom should be paid off within six years. The people, from whom taxes might be always extorted at pleasure, paid a good share of this, for the fifth of the three millions of _ecus d'or_ was realised from the tax on salt, the thirteenth part from the duty on the sale of fermented liquors, and twelve deniers per pound from the tax on the value of all provisions sold and resold within the kingdom.

Commerce was subjected to a new tax called _imposition foraine_, a measure most detrimental to the trade and manufactures of the country, which were continually struggling under the pitiless oppression of the treasury.

Royal despotism was not always able to shelter itself under the sanction of the general and provincial councils, and a few provinces, which forcibly protested against this excise duty, were treated on the same footing as foreign states with relation to the transit of merchandise from them. Other provinces compounded for this tax, and in this way, owing to the different arrangements in different places, a complicated system of exemptions and prohibitions existed which although most prejudicial to all industry, remained in force to a great extent until 1789.

When Charles V.--surnamed the Wise--ascended the throne in 1364, France, ruined by the disasters of the war, by the weight of taxation, by the reduction in her commerce, and by the want of internal security, exhibited everywhere a picture of misery and desolation; in addition to which, famine and various epidemics were constantly breaking out in various parts of the kingdom. Besides this, the country was incessantly overrun by gangs of plunderers, who called themselves _ecorcheurs, routiers, tardvenus_, &c., and who were more dreaded by the country people even than the English had been. Charles V., who was celebrated for his justice and for his economical and provident habits, was alone capable of establishing order in the midst of such general confusion. Supported by the vote of the a.s.sembly held at Compiegne in 1367, he remitted a moiety of the salt tax and diminished the number of the treasury agents, reduced their wages, and curtailed their privileges. He inquired into all cases of embezzlement, so as to put a stop to fraud; and he insisted that the accounts of the public expenditure in its several departments should be annually audited. He protected commerce, facilitated exchanges, and reduced, as far as possible, the rates and taxes on woven articles and manufactured goods. He permitted Jews to hold funded property, and invited foreign merchants to trade with the country. For the first time he required all gold and silver articles to be stamped, and called in all the old gold and silver coins, in order that by a new and uniform issue the value of money might no longer be fict.i.tious or variable. For more than a century coins had so often changed in name, value, and standard weight, that in an edict of King John we read, "It was difficult for a man when paying money in the ordinary course to know what he was about from one day to another."

The recommencement of hostilities between England and France in 1370 unfortunately interrupted the progressive and regular course of these financial improvements. The States-General, to whom the King was obliged to appeal for a.s.sistance in order to carry on the war, decided that salt should be taxed one sol per pound, wine by wholesale a thirteenth of its value, and by retail a fourth; that a _fouage_, or hearth tax, of six francs should be established in towns, and of two francs in the country,[*] and that a duty should be levied in walled towns on the entrance of all wine. The produce of the salt tax was devoted to the special use of the King. Each district farmed its excise and its salt tax, under the superintendence of clerks appointed by the King, who regulated the a.s.sessment and the fines, and who adjudicated in the first instance in all cases of dispute. Tax-gatherers were chosen by the inhabitants of each locality, but the chief officers of finance, four in number, were appointed by the King. This administrative organization, created on a sound basis, marked the establishment of a complete financial system. The a.s.sembly, which thus transferred the administration of all matters of taxation from the people at large to the King, did not consist of a combination of the three estates, but simply of persons of position--namely, prelates, n.o.bles, and bourgeois of Paris, in addition to the leading magistrates of the kingdom.

[Footnote *: This is the origin of the saying "smoke farthing."]

The following extract from the accounts of the 15th November, 1372, is interesting, inasmuch as it represents the actual budget of France under Charles V.:--

Article 18. a.s.signed for the payment of men at arms ...... 50,000 francs.

" 19. For payment of men at arms and crossbowmen newly formed .............................. 42,000 "

" " For sea purposes ............................. 8,000 "

" 20. For the King's palace ........................ 6,000 "

" " To place in the King's coffers................ 5,000 "

" 21. It pleases the King that the receiver-general should have monthly for matters that daily arise in the chamber ...................... 10,000 "

" " For the payment of debts ..................... 10,000 "

Total ..................... 131,000 "

[Ill.u.s.tration: Settlement of Accounts by the Brothers of Cherite-Dieu of the Recovery of Roles

A miniature from the "_Livre des Comptes_" of the Society (Fifteenth Century).]

Thus, for the year, 131,000 francs in _ecus d'or_ representing in present money about 12,000,000 francs, were appropriated to the expenses of the State, out of which the sum of 5,000 francs, equal to 275,000 francs of present money, was devoted to what we may call the _Civil List_.

On the death of Charles V., in 1380, his eldest son Charles, who was a minor, was put under the guardianship of his uncles, and one of these, the Duke d'Anjou, a.s.sumed the regency by force. He seized upon the royal treasury, which was concealed in the Castle of Melun, and also upon all the savings of the deceased king; and, instead of applying them to alleviate the general burden of taxation, he levied a duty for the first time on the common food of the people. Immediately there arose a general outcry of indignation, and a formidable expression of resistance was made in Paris and in the large towns. Mob orators loudly proclaimed the public rights thus trampled upon by the regent and the King's uncles; the expression of the feelings of the ma.s.ses began to take the shape of open revolt, when the council of the regency made an appearance of giving way, and the new taxes were suppressed, or, at all events, partially abandoned.

The success of the insurrectionary movement, however, caused increased concessions to be demanded by the people. The Jews and tax-collectors were attacked. Some of the latter were hung or a.s.sa.s.sinated, and their registers torn up; and many of the former were ill-treated and banished, notwithstanding the price they had paid for living in the kingdom.

The a.s.sembly of the States, which was summoned by the King's uncles to meet in Paris, sided with the people, and, in consequence, the regent and his brother pretended to acknowledge the justice of the claims which were made upon them in the name of the people, and, on their withdrawing the taxes, order was for a time restored. No sooner, however, was this the case than, in spite of the solemn promises made by the council of regency, the taxes were suddenly reimposed, and the right of farming them was sold to persons who exacted them in the most brutal manner. A sanguinary revolt, called that of the _Maillotins_, burst forth in Paris; and the capital remained for some time in the power of the people, or rather of the bourgeois, who led the mob on to act for them (1381-1382). The towns of Rouen, Rheims, Troyes, Orleans, and Blois, many places in Beauvoise, in Champagne, and in Normandy, followed the example of the Parisians, and it is impossible to say to what a length the revolt would have reached had it not been for the victory over the Flemish at Rosebecque. This victory enabled the King's uncles to re-enter Paris in 1383, and to re-establish the royal authority, at the same time making the _Maillotins_ and their accomplices pay dearly for their conduct. The excise duties, the hearth tax, the salt tax, and various other imposts which had been abolished or suspended, were re-established; the taxes on wine, beer, and other fermented liquors was lowered; bread was taxed twelve deniers per pound, and the duty on salt was fixed at the excessive rate of twenty francs in gold--about 1,200 francs of present money--per hogshead of sixty hundredweight. Certain concessions and compromises were made exceptionally in favour of Artois, Dauphine, Poitou, and Saintonge, in consideration of the voluntary contributions which those provinces had made.

[Ill.u.s.tration: Fig. 283.--a.s.sa.s.sination of the Duke of Burgundy, John the Fearless, on the Bridge of Montereau, in 1419.--Fac-simile of a Miniature in the "Chronicles" of Monstrelet, Ma.n.u.script of the Fifteenth Century, in the Library of the a.r.s.enal of Paris.]

Emboldened by the success of their exacting and arbitrary rule, the Dukes of Anjou, Burgundy, and Berry, under pretext of requiring money for war expenses, again increased the taxes from the year 1385 to 1388; and the salt tax was raised to forty golden francs, about 24,000 francs of present money, per hogshead. The ecclesiastics paid a half decime to the King, and several decimes to the Pope, but these did not prevent a forced loan being ordered. Happily, Charles VI. about this period attained his majority, and a.s.sumed his position as king; and his uncle, the Duke of Bourbon, who was called to the direction of affairs, re-established comparative order in financial matters; but soon after the King's brother, the Duke of Orleans, seized the reins of government, and, jointly with his sister-in-law, Isabel of Bavaria, increased the taxation far beyond that imposed by the Duke d'Anjou. The Duke of Burgundy, called John the Fearless, in order to gratify his personal hatred to his cousin, Louis of Orleans, made himself the instrument of the strong popular feeling by a.s.sa.s.sinating that prince as he was returning from an entertainment. The tragical death of the Duke of Orleans no more alleviated the ills of France than did that of the Duke of Burgundy sixteen years later--for he in his turn was the victim of a conspiracy, and was a.s.sa.s.sinated on the bridge of Montereau in the presence of the Dauphin (Fig. 283). The marriage of Isabel of France with the young king Richard of England, the ransom of the Christian prisoners in the East, the money required by the Emperor of Constantinople to stop the invasions of the Turks into Europe, the pay of the French army, which was now permanent, each necessarily required fresh subsidies, and money had to be raised in some way or other from the French people. Distress was at its height, and though the people were groaning under oppression, they continued to pay not only the increased taxes on provisions and merchandise, and an additional general tax, but to submit to the most outrageous confiscations and robbery of the public money from the public treasuries. The State a.s.semblies held at Auxerre and Paris in 1412 and 1413, denounced the extravagance and maladministration of the treasurers, the generals, the excis.e.m.e.n, the receivers of royal dues, and of all those who took part in the direction of the finances; though they nevertheless voted the taxes, and promulgated most severe regulations with respect to their collection. To meet emergencies, which were now becoming chronic, extraordinary taxes were established, the non-payment of which involved the immediate imprisonment of the defaulter; and the debas.e.m.e.nt of the coinage, and the alienation of certain parts of the kingdom, were authorised in the name of the King, who had been insane for more than fifteen years. The incessant revolts of the bourgeois, the reappearance of the English on the soil of France, the ambitious rivalry of Queen Isabel of Bavaria leagued with the Duke of Burgundy against the Dauphin, who had been made regent, at last, in 1420, brought about the humiliating treaty of Troyes, by which Henry V., king of England, was to become king of France on the death of Charles VI.

This treaty of Troyes became the cause of, and the pretext for, a vast amount of extortion being practised upon the unfortunate inhabitants of the conquered country. Henry V., who had already made several exactions from Normandy before he had obtained by force the throne of France, did not spare the other provinces, and, whilst proclaiming his good intentions towards his future subjects, he added a new general impost, in the shape of a forced loan, to the taxes which already weighed so heavily on the people. He also issued a new coinage, maintained many of the taxes, especially those on salt and on liquors, even after he had announced his intention of abolishing them.

At the same time the Dauphin Charles, surnamed _Roi de Bourges_, because he had retired with his court and retinue into the centre of the kingdom (1422), was sadly in want of money. He alienated the State revenues, he levied excise duties and subsidies in the provinces which remained faithful to his cause, and he borrowed largely from those members of the Church and the n.o.bility who manifested a generous pity for the sad destiny of the King and the monarchy. Many persons, however, instead of sacrificing themselves for their king and country, made conditions with him, taking advantage of his position. The heir to the throne was obliged in many points to give way, either to a n.o.ble whose services he bargained for, or to a town or an abbey whose aid he sought. At times he bought over influential bodies, such as universities and other corporation, by granting exemptions from, or privileges in, matters of taxation, &c. So much was this the case that it may be said that Charles VII. treated by private contract for the recovery of the inheritances of his fathers. The towns of Paris and Rouen, as well as the provinces of Brittany, Languedoc, Normandy, and Guyenne, only returned to their allegiance to the King on conditions more or less advantageous to themselves. Burgundy, Picardy, and Flanders--which were removed from the kingdom of Charles VII. at the treaty of peace of Arras in 1435--cordially adopted the financial system inaugurated by the Duke of Burgundy, Philip the Good.

[Ill.u.s.tration: Fig. 284.--The House of Jacques Coeur at Bourges, now converted into the Hotel de Ville.]

Charles VII. reconquered his kingdom by a good and wise policy as much as by arms. He, doubtless, had cause to be thankful for the valeur and devotion of his officers, but he princ.i.p.ally owed the success of his cause to one man, namely, his treasurer, the famous Jacques Coeur, who possessed the faculty of always supplying money to his master, and at the same time of enriching himself (Fig. 284). Thus it was that Charles VII., whose finances had been restored by the genius of Jacques Coeur, was at last able to re-enter his capital triumphantly, to emanc.i.p.ate Guyenne, Normandy, and the banks of the Loire from the English yoke, to reattach to the crown a portion of its former possessions, or to open the way for their early return, to remove bold usurpers from high places in the State, and to bring about a real alleviation of those evils which his subjects had so courageously borne. He suppressed the fraud and extortion carried on under the name of justice, put a stop to the sale of offices, abolished a number of rates illegally levied, required that the receivers' accounts should be sent in biennially, and whilst regulating the taxation, he devoted its proceeds entirely to the maintenance and pay of the army. From that time taxation, once feudal and arbitrary, became a fixed royal due, which was the surest means of preventing the pillage and the excesses of the soldiery to which the country people had been subjected for many years. Important triumphs of freedom were thus obtained over the tyrannical supremacy of the great va.s.sals; but in the midst of all this improvement we cannot but regret that the a.s.sessors, who, from the time of their creation by St. Louis, had been elected by the towns or the corporations, now became the nominees of the crown.

[Ill.u.s.tration: Fig. 285.--_Amende honorable_ of Jacques Coeur before Charles VII.--Fac-simile of a Miniature of the "Chroniques" of Monstrelet, Ma.n.u.script of the Fifteenth Century, in the National Library of Paris.]

Philip the Good, Duke of Burgundy, taxed his subjects but little: "Therefore," says Philippe de Commines, "they became very wealthy, and lived in much comfort." But Louis XI did not imitate him. His first care was to reinstate that great merchant, that clever financier, Jacques Coeur, to whom, as much as to Joan of Arc, the kingdom owed its freedom, and whom Charles VII., for the most contemptible reasons, had had the weakness to allow to be judicially condemned Louis XI. would have been very glad to entrust the care of his finances to another Jacques Coeur; for being sadly in want of money, he ran through his father's earnings, and, to refill his coffers, he increased taxation, imposed a duty on the importation of wines, and levied a tax on those holding offices, &c. A revolution broke out in consequence, which was only quenched in the blood of the insurgents. In this manner he continued, by force of arms, to increase and strengthen his own regal power at the expense of feudalism.

He soon found himself opposed by the _Ligue du Bien Public_, formed by the great va.s.sals ostensibly to get rid of the pecuniary burden which oppressed the people, but really with the secret intention of restoring feudalism and lessening the King's power. He was not powerful enough openly to resist this, and appeared to give way by allowing the leagued n.o.bles immense privileges, and himself consenting to the control of a sort of council of "thirty-six notables appointed to superintend matters of finance." Far from acknowledging himself vanquished, however, he immediately set to work to cause division among his enemies, so as to be able to overcome them. He accordingly showed favour towards the bourgeois, whom he had already flattered, by granting new privileges, and abolishing or reducing certain vexatious taxes of which they complained. The thirty-six notables appointed to control his financial management reformed nothing. They were timid and docile under the cunning eye of the King, and practically a.s.sisted him in his designs; for in a very few years the taxes were increased from 1,800,000 ecus--about 45,000,000 francs of present money--to 3,600,000 ecus--about 95,000,000 francs. Towards the end of the reign they exceeded 4,700,000 ecus--130,000,000 francs of present money.

Louis XI. wasted nothing on luxury and pleasure; he lived parsimoniously, but he maintained 110,000 men under arms, and was ready to make the greatest sacrifices whenever there was a necessity for augmenting the territory of the kingdom, or for establishing national unity. At his death, on the 25th of August, 1483, he left a kingdom considerably increased in area, but financialty almost ruined.

When Anne de Beaujeu, eldest sister of the King, who was a minor, a.s.sumed the reins of government as regent, an immediate demand was made for reparation of the evils to which the finance ministers had subjected the unfortunate people. The treasurer-general Olivier le Dain, and the attorney-general Jean Doyat, were almost immediately sacrificed to popular resentment, six thousand Swiss were subsidised, the pensions granted during the previous reign were cancelled, and a fourth part of the taxes was removed. Public opinion being thus satisfied, the States-General a.s.sembled. The bourgeois here showed great practical good sense, especially in matters of finance; they proved clearly that the a.s.sessment was illegal, and that the accounts were fict.i.tious, inasmuch as the latter only showed 1,650,000 livres of subsidies, whereas they amounted to three times as much. It was satisfactorily established that the excise, the salt tax, and the revenues of the public lands amply sufficed for the wants of the country and the crown. The young King Charles was only allowed 1,200,000 livres for his private purse for two years, and 300,000 livres for the expenses of the festivities of his coronation. On the a.s.sembly being dissolved, the Queen Regent found ample means of pleasing the bourgeois and the people generally by breaking through the engagements she had entered into in the King's name, by remitting taxation, and finally by force of arms destroying the power of the last remaining va.s.sals of the crown.

[Ill.u.s.tration: Fig. 286.--The Mint.--Fac-simile of a Woodcut in the Translation of the Latin Work of Francis Patricius, "De l'Inst.i.tution et Administration de la Chose Politique:" folio, 1520.]

[Ill.u.s.tration: Fig. 287.--The receiver of Taxes.--Fac-simile of a Woodcut in Damhoudere's "Praxis Rerum Civilium."]

Charles VIII., during a reign of fourteen years, continued to waste the public money. His disastrous expedition for the conquest of the kingdom of Naples forced him to borrow at the rate of forty-two per cent. A short time previous to his death he acknowledged his errors, but continued to spend money, without consideration or restraint, in all kinds of extravagances, but especially in buildings. During his reign the annual expenditure almost invariably doubled the revenue. In 1492 it reached 7,300,000 francs, about 244,000,000 francs of present money. The deficit was made up each year by a general tax, "which was paid neither by the n.o.bles nor the Church, but was obtained entirely from the people" (letters from the amba.s.sadors of Venice).

When the Duke of Orleans ascended the throne as Louis XII., the people were again treated with some consideration. Having chosen George d'Amboise as premier and Florimond Robertet as first secretary of the treasury, he resolutely pursued a course of strict economy; he refused to demand of his subjects the usual tax for celebrating the joyous accession, the taxes fell by successive reductions to the sum of 2,600,000 livres, about 76,000,000 francs of present money, the salt tax was entirely abolished, and the question as to what should be the standard measure of this important article was legislated upon. The tax-gatherers were forced to reside in their respective districts, and to submit their registers to the royal commissioners before beginning to collect the tax. By strict discipline pillage by soldiers was put a stop to (Fig. 288).

Notwithstanding the resources obtained by the King through mortgaging a part of the royal domains, and in spite of the excellent administration of Robertet, who almost always managed to pay the public deficit without any additional tax, it was necessary in 1513, after several disastrous expeditions to Italy, to borrow, on the security of the royal domains, 400,000 livres, 10,000,000 francs of present money, and to raise from the excise and from other dues and taxes the sum of 3,300,000 livres, about 80,000,000 francs of present money. This caused the nation some distress, but it was only temporary, and was not much felt, for commerce, both domestic and foreign, much extended at the same time, and the sale of collectorships, of t.i.tles of n.o.bility, of places in parliament, and of nominations to numerous judicial offices, brought in considerable sums to the treasury. The higher cla.s.ses surnamed the king _Le Roitelet_, because he was sickly and of small stature, parsimonious and economical. The people called him their "father and master," and he has always been styled the father of the people ever since.

[Ill.u.s.tration: Fig. 288.--A Village pillaged by Soldiers.--Fac-simile of a Woodcut in Hamelmann's "Oldenburgisches Chronicon." in folio, 1599.]

In an administrative and financial point of view, the reign of Francis I.

was not at all a period of revival or of progress. The commencement of a sounder System of finance is rather to be dated from that of Charles V.; and good financial organization is a.s.sociated with the names of Jacques Coeur, Philip the Good, Charles XI., and Florimond Robertet. As an example of this, it may be stated that financiers of that time established taxes on registration of all kinds, also on stamps, and on sales, which did not before exist in France, and which were borrowed from the Roman emperors.

We must also give them the credit of having first commenced a public debt, under the name of _rentes perpetuelles_, which at that time realised eight per cent. During this brilliant and yet disastrous reign the additional taxes were enormous, and the sale of offices produced such a large revenue that the post of parliamentary counsel realised the sum of 2,000 golden ecus, or nearly a million francs of present currency. It was necessary to obtain money at any price, and from any one who would lend it. The ecclesiastics, the n.o.bility, the bourgeois, all gave up their plate and their jewels to furnish the mint, which continued to coin money of every description, and, in consequence of the discovery of America, and the working of the gold and silver mines in that country, the precious metals poured into the hands of the money-changers. The country, however, was none the more prosperous, and the people often were in want of even the commonest necessaries of life. The King and the court swallowed up everything, and consumed all the resources of the country on their luxury and their wars. The towns, the monasteries, and the corporations, were bound to furnish a certain number of troops, either infantry or cavalry.

By the establishment of a lottery and a bank of deposit, by the monopoly of the mines and by the taxes on imports, exports, and manufactured articles, enormous sums were realised to the treasury, which, as it was being continually drained, required to be as continually replenished.

Francis I. exhausted every source of credit by his luxury, his caprices, and his wars. Jean de Beaune, Baron de Semblancay, the old minister of finance, died a victim to false accusations of having misappropriated the public funds. Robertet, who was in office with him, and William Bochetel, who succeeded him, were more fortunate: they so managed the treasury business that, without meeting with any legal difficulty, they were enabled to centralise the responsibility in themselves instead of having it distributed over sixteen branches in all parts of the kingdom, a system which has continued to our day. In those days the office of superintendent of finance was usually only a short and rapid road to the gibbet of Montfaucon.

[Ill.u.s.trations: Gold and Silver Coins of the Fifteenth and Sixteenth Centuries.