Question

It is quite clear that Jean-Baptiste Colbert, Louis XIV’s chief accountant, was instrumental in bringing back the financial glory of France after the Fronde (1648 - 1653). Colbert had instituted a clear and complete accounting structure for Louis that provided Louis with the financial information he needed to run his kingdom - including pocket size account books. Upon Colbert’s sudden death in 1683, however, Louis chose not to replace Colbert or continue this formal accounting function. Why was this the case and what were the implications for Louis and for France?

Answer 1

The correct answer to this question is the following.

Upon Colbert’s sudden death in 1683, however, Louis chose not to replace Colbert or continue this formal accounting function. The implications for Louis and France were bad.

As the meticulous accountant he was, Colbert established a stern control over the French finances, helping the country to stabilize the economy and the monarchy's finances. Emperor Louis XIV was an extravagant man who liked to spend the money of the kingdom. Well, Colbert managed it to establish control of the expenditure and had surpluses. Of course, this was not accepted by many people, including the king. So when Colbert died, "everything returned to normal," which means that the king started to spend money as he used to and the consequences were that France came back to those economic problems and the inequity that had characterized Louis XIV kingdom.