Walpole and Fleury

             The European states encountered significant shifts of power in the seventeenth and early eighteenth centuries. Those that succeeded were the ones that created potent central political supremacy. Among them were France and England. However, after the war of Spanish succession, there was a need for economic recovery. The English political unity allows Robert Walpole, to advance economic recovery, while Cardinal Fleury lacked the cooperation of France's political power to implement economic ascendancy. This allowed England to become a dominant power in the eighteenth century Europe as France loses its central unity and becomes decentralized.
             The failure of the Mississippi Company and the south sea company to stimulate economic recovery resulted in solicitous reconsideration. In France, Cardinal Flerry as a pragmatist, worked to block the political ambition and capacity of the nobilities. However, without the cooperation of the French King, Louis XI, Fleury wasn't able to efficiently manage the influx of power in the aristocracy. This only resulted in a division in the Central government. To manage the economy, Fleury enforces bourgeois businesses, which gave France temporary recovery. Law's bank, a useful institution was dissolved as a repercussion o the Mississippi company failure. Thereafter, France lacked an adequate banking system. Much of the French War debt was repudiated. This would only hurt the bourgeois, because they invested most heavily in the Mississippi stock. It also discourages people from lending money to the state, which would hurt French's revenue. Nor was much accomplished towards the reform of taxation. Fleury was never able to draw sufficient tax revenue from the nobilities and the church. All of this would hurt France's money based economy that was heavily dependant on the economic support of the Bourgeois. With France lacking adequate revenue and repudiating its debts, Th...

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Walpole and Fleury. (1969, December 31). In MegaEssays.com. Retrieved 07:20, March 29, 2024, from https://www.megaessays.com/viewpaper/75397.html