Mercantilism in France
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Mercantilism in France
Mercantilism states that national wealth and power were best served by increased exports and collection precious metals, called bullion, in return. In France, this theory was implemented by the financial ministers Duke of Sully under Charles II and Cardinal Richelieu and Jean Baptiste Colbert under the rule of Louis XIV. However the mercantilism policies were effected mostly by Sully and Colbert. The financial ministers implemented both domestic and foreign economic policies stimulate the severely in debt French economy.
At home, Mercantilism tried to regulate economic activities under strict government supervision. The Duke of Sully started mercantilism in France by encouraging state growth and expansion. The intendant system was put into place under financial minister, Cardinal Richelieu. The intendants had local control of the tax collectors and they recruited men for the army. Colbert also made the tax collection more efficient. He reduced the number of tax exempt nobles and imposed more taxes on the peasantry...