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Napoleon's Economic Reform
Transcript of Napoleon's Economic Reform
Establishing Financial Stability
Creating a new currency
Starter: What would you change/improve to the economy?
The Situation in 1799
What did he do?
The tax reforms:
A clearer division of the roles in the ministry of fiances and the treasury.
Reorganising direct and indirect tax collection.
Establishing a public banking system.
Napoleon appointed a number of able ministries to the treasury and finances who introduced tax reforms
The Bank of France
• Most important reform introduced by Napoleon on 6th January 1880.
• The aim of the bank was to improve the efficiency of the states finances.
• A risky business venture in 1805 threatened the stability of the new bank led to Napoleon imposing stricter controls on the bank.
• On 28th March 1803, he introduced the franc de germinal, which became the basis of his monetary system.
• This gave France the most stable currency in Europe at that time; it would remain the basis of France’s currency for the next 120 years.
The French Economy in 1799 was in chaos. The French treasury had very little money and there was no real organisation in collecting taxes and revenues.