Revolt of the Nobles

* The crisis

- budget deficit had become impossible by 1788

-> American Revolutionary War debt was crushing the state

-> bankers would not extend credit until they saw real reform

=> much like the International Monetary Fund today

-> the nobles have the money and the king needs it

- to raise money locally required compromise towards a limited monarchy

-> King Louis XVI simply did not have the political or military power

to force new taxes

-> The Glorious Revolution in England served as a precedent

* Denouement (playing out of)

- king tries to play hardball

-> disbands the Paris Parlement (a noble association/voice)

-> orders new taxes and government powers

-> nobles scream and refuse to play along or pay

-> no money raised

=> bankers increasingly frightened by instability

=> nobles snapping their purses shut

- king backs down

-> calls the Estates General

=> French version of the English Parliament (sort of)

-> implicitly agrees to back down

* The noble position

- want to gain power over the king

-> want taxation to be controlled by the Estates General

- want a guaranteed monopoly on the high offices of the land

- want a guarantee of continued feudal rights

- will pay (a few) taxes in exchange for king's concessions

-> basically, a reversal of Louis XIV's deal

- a bunch of fat heads

-> their demands alienate much of France

-> they undermine the king, who is their best defense

=> they were blind to their own unpopularity

=> thought they could be "the voice of the nation"

-> their "fix proposals" don't guarantee and financial

improvement

=> rich bankers and bourgeoisie see no benefit in

supporting the nobles

=> money still holding out for an English "House of Commons

model

-> calling the Estates General brought the commoners (3rd

Estate) into the arena

=> a super-dangerous new voice from the noble point of view

- nobles raised a suicidal question: "Who represents the Nation?"