1559-1589
the Economy






The Economy under Francis I., Henri II., 1515-1559



Under FRANCIS I., the state revenue was increasingly based on monetary income; taxation was expanded. In 1522 Francis established the ROYAL TREASURY, headed by a SUPERINTENDENT OF FINANCES. The sale of state offices was introduced, as was indirect taxation. Francis I.' almost continuous warfare and his construction of chateaus, his patronage of the arts were expensive, requiring ever higher revenues.
The influx of silver from South America, reaching France by the means of trade, caused INFLATION which to a certain extent stimulated the French economy, but harmed the nobility which, without additional income, faced steeply rising costs of a noble lifestyle. Francis I. and Henri II. many wars were for the most part fought outside of France, thus creating limited damage in France.
French pirate raids (since 1522) as well as the beginning Transatlantic slave trade brought additional revenue to the French economy.



EXTERNAL
FILES
Biography of Francis I., from infoplease
Who is who in 16th century France, from Le Poulet Gauche
DOCUMENTS French coins minted under Francis I., Henri II., from Numismatique - Monnaie
Francis 1er, Henri II, from Les monnaies de 1515 a 1789, posted by Association Francaise de Genealogie
REFERENCE



This page is part of World History at KMLA
First posted in 2001, last revised on November 9th 2004

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