2min chapter

In Our Time cover image

Louis XIV: The Sun King

In Our Time

CHAPTER

The Finances of Louis XIV

Jean Baptiste Colbert, his finance minister in the 1660s and 1670s. He equips Louis with a financial system that enables you to have a standing army of around 150,000 men - four to five times as much as back in the 1620s. This is a financial system which is basically contracted out to entrepreneurs and they take rake-offs. But how does he make them do it? I mean they are doing things where they are under his thumb. And this is where his appointment of people who knew how to manipulate and collect taxes is very important because tax revenue goes up and up.

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