>War of the Austrian Succession – Battle of Fontenoy

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Thought 1744 and the Second Silesian conflict were largely uneventful, the war was still in full force. 1745 erupted along alliance lines as France and Prussia began to emerge supreme. The Quadruple Alliance of Britain, Austria, the Netherlands, and Saxony was agreed early in 1745, and it began to show strength in Central Europe. Frederick II was biding his time for the best possible moment, which came in the spring. Louis XV went headlong into Belgium, so his army was not available to the Prussian King for many months. Though unavailable to Frederick, the French set about to change the course of the war.

Late 1744 success along the Austrian border were soon built upon in the spring of 1745. Because the French were so successful in southern Belgium, Prince Charles of Lorraine marched 70,000 troops to counter further French advances. Louis XV responded by empowering Marechal Maurice de Saxe with 60,000 men in Flanders. British, Dutch, and Hanoverian troops descended upon Flanders as well, while Europe anticipated an immense battle, the largest of the war since Mollwitz in 1742. Soon France was outnumbered; however, the Allied commanders were to tremulous to attack the French. British dallying affected Parliament, and changes in government occurred, which would affect the British influence for the war’s remainder. Other governmental changes also influenced the war. The French champion for the Imperial throne, Charles VII died in January 1745. A new emperor was proclaimed, Maria Theresa’s husband Francis Stephen became Emperor Francis I, and he was hesitant during the peace process. His main hesitance had to deal with Habsburg gains during 1742-1744. Maria Theresa was not satisfied with how negotiations were progressing, so she decided to continue fighting what seemed to be a favorable war. Austrian forces hammered the Bavarians at Pfaffenhofen in April 1745. Bavaria’s ability to continue war was shattered, and it sued for peace. Austria’s success, however, freed French obligations to Central Europe. France could now concentrate solely on Belgium.

The combined Allied forces were led by King George II’s son, the Duke of Cumberland. He met with Allied commanders at the Hague, and then with his troops at Brussels a few days later in April 1745. Cumberland’s precocity saw him dream elaborate campaigns resulting in glorious victories. He believed that his troops could and would march on Paris to end the war within weeks of his arrival. Cumberland’s generals thought otherwise and impressed a more defensive posture upon the Duke’s mindset. Marechal Saxe believed he had little time to live, because he was ill with Dropsy, which was believed fatal. With his remaining days, Saxe wanted to inflict a massive defeat on the Allies. French soldiers were ordered to move upon the Scheldt river deep into Belgium’s heartland. Saxe began to feint his maneuvers, while establishing a main siege force against Tournay. Cumberland and his commanders were certainly confused by Saxe’s feigned attempts. Cumberland also believed the reports that Saxe was about to die. He was foolishly confident on the eve of what he thought would be battle at Mons, not Tournay.

Duplicity intact, Saxe waited for the Allied troops to begin moving to aid Mons. When troops began moving, Saxe seized his opportunity and began assaulting Tournay. Cumberland received word that Mons was not the target two full days after Saxe arrived at Tournay. A further two days dalliance were undertaken before Cumberland and the Allies reversed course. Compounding administrative failures, the weather further hindered Allied troop arrival. Saxe arrived on April 28; Cumberland arrived on May 9. Cumberland’s diary reveals further confusion over French troop numbers, positions, and maneuvers. Though confused, Cumberland was still confident that victory would be his. He could not know that the French Marechal de Saxe was vastly superior in almost every way.

Saxe believed that the Allies would try to advance toward Tournay through Fontenoy. In preparation for the Allied arrival, Saxe fortified Fontenoy. Allied spotters revealed French involvement at Fontenoy, and Cumberland decided upon this news to attack the French position. Fontenoy was well defensible naturally by height and forest. The plateau opened into a large field, perfect for the French cannons to obliterate Allied infantry. Allied forces opened the battle on May 11 through three wings. The British were on the right, the Hanoverians and Dutch occupied the center, and the Austrians were on the left south of Fontenoy. British reconnaissance failed to discover a strongly fortified French redoubt near the forest north of Fontenoy. Such a failure proved vastly serious. Cumberland ordered his general, Ingolsby, to capture the redoubt. Upon advancing, Ingolsby lost his nerve and the British began to wither. French artillery began opening fire on the center through the plains around Fontenoy to devastating effect. Cumberland simply ignored the growing problems surrounding his right flank. The Dutch approached French positions, while the French held fire. At a perilously, almost point blank, close distance, the French opened fire and killed most of the Dutch invading force. Those who were not killed fled the battle. A second attempt was mustered, yet met with the same outcome.

During nightfall Cumberland wavered between attack and retreat. He decided to attack with a sweeping infantry advance. What remained of the Allied army was regrouped and sent back into the fray. The Dutch again attempted to assault Fontenoy, and were again beaten. This time, the Dutch would not continue in the battle. Victory seemed certain for Saxe, who still had to defeat the remaining English under Cumberland. Three lines formed throughout the Allied ranks and arched uphill toward Fontenoy about 10:30 am. Light artillery was employed by both armies, which attempted to soften the opposition. English troops came into close contact with their French counterparts. French artillery mercilessly pounded the advancing English army, and destroyed entire ranks. Yet, Cumberland’s men maintained perfect order despite heavy losses. The British did succeed in pushing the French back, and may have actually won the day had it not been for a third strong French redoubt. British Infantry famously met the French Infantry atop the ridge. Various taunting ensued, and the French opened fire upon the British. Then came the British reply, which inflicted devastating casualties upon the French, who were driven backward. A gap opened in the French ranks, which should have been exposed by the Dutch who had since left the battle. Saxe, extremely ill, now showed himself on the battlefield. He personally barked out orders to repair the buckling French lines. His arrival turned retreat into an offensive masterpiece. The French Cavalry was sent against the British Infantry, but they were beaten as well. At this point, Louis XV believed the battle lost, to which Saxe replied “We must all conquer or die together.” With the British now in the French camp, further cannonades from the uncaptured French redoubts began halting the British Infantry. French Cavalry and Infantry newly organized by Saxe turned the tide, and forced Cumberland’s men into retreat.

Before the battle’s end, Cumberland maintained his infantry’s order, and tried another advance, which proved unsuccessful. Though unsuccessful, the French could not inflict any further serious damage upon the British who had maintained amazing order while retreating. Voltaire later wrote that had the Dutch remained in the conflict during this period, the French would have been surrounded and cut off. He also said that Louis XV and the future Louis XIV would have been killed. Napoleon later quipped that such failure on the Allied part gave France the victory, and further extended the Ancien Regime another 30 years. Saxe took advantage of these failures and launched a series of counterattacks to ensure his victory. The French had enveloped the British, who could not pivot a turn into the French redoubts. Counteroffensives muted any further British strength, and the French soon proved victorious 12 hours after initial skirmishes opened the battle. Allied troops began retreated from Fontenoy in perfect order. Cumberland sobbed at his loss, while Saxe was lauded an instant French hero. Saxe, however, did have his detractors, as he did not pursuing the Allies and inflicting a general rout. Saxe argued that he and his men were exhausted, and must regroup. He proved correct, as the Allies were not much opposition in Belgium for the War’s remainder. Saxe took the entire Belgian region almost unopposed in future years after this decisive battle.

 

>War of the Austrian Succession – 1744/Second Silesian War

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France, though already involved on a limited scale, became completely embroiled in Europe’s expanding war. Frederick II needed help against Austria’s successful backlash. Louis XV was certainly up for the cause against his generational enemy. France and Prussia agreed a new, more encompassing treaty. War against Austria was promptly declared in 1744, which not only added to Austria’s foes, but also to her friends, as Great Britain came to Austria’s aid.

French officers designed a plan to knock England out of the war early, and then punish Austrian intransigence. A new Jacobite uprising was to be sent into England, and James Stuart – another Stuart claimant – was to be installed as King of England. Typical of so many other invasion attempts, weather played an imposing role. Cataclysmic storms destroyed much of the landing craft, and many lives were lost in the Channel. Further plans to invade were scrapped, and France turned to the eastern front. Louis XV personally commanded 90,000 men, who were to invade Belgium. French aggression was successful, and Ypres as well as well as Menin fell to Louis XV. From this point in 1744, both armies tried to outmaneuver one another. The British Alliance (Britain, the Netherlands, Hannover, Austria, and other lesser German provinces) gained an upper hand when Prince Charles advanced upon Phillipsburg, and cut off the new Marechal Coigny’s supplies. Marechal Coigny responded in kind, and fought through the British Alliance’s lines toward Strasbourg. Louis XV, realizing what was taking place along the Rhine river, broke from attempting to invade Belgium. In a coordinated effort, Louis XV and Frederick II marched into the Alsace-Lorraine region. Austria was severely stretched beyond military limits, and could not oppose the Prussian march. Frederick II captured Prague by September 1744.

Maria Theresa again employed emotional panic to raise a much needed army. A second Hungarian insurrection accompanied with Austrian diplomacy raised both defensive as well as offensive forces. Saxony switched alliances and joined Austria. Meanwhile, Prince Charles shrank from French power, but was spared casualty, because of the debacle at Metz regarding Louis XV’s illness and his mistress, Madame de Chateauroux. Frederick tried to shadow Prince Charles, but his attempts overextended the Prussian position. Hungarian insurrectionists inflicted a number of minor defeats against the Prussian King, who fell back upon Prague. By the time Frederick had reached Prague, Prince Charles rejoined battle and surrounded Frederick’s position. Frederick had to surrender Prague, as the Prussians retreated back into Silesia late in 1744. France finally stabilized enough to capture Freiburg, and attempt another Belgian invasion. The next year, 1745, was to be an eventful one, full of major engagements.

 

>War of the Austrian Succession – Silesian and Bavarian Phases

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To fully comprehend the War of the Austrian Succession events must be viewed as parts of a whole. The first actions of the war are known as the First Silesian War. This Silesian War was short-lived, as the already mentioned Prussian invasion of Silesia. Frederick II’s maneuvers were so devastating that Maria Theresa agreed to the Treaty of Breslau in 1742. Prussia was given almost total control of Silesia, all but what remained of Austrian Silesia, and the town of Glatz. Though the Silesian War was abrupt, and complete, an ever growing conflict was taking place further southward.

While Austria was coping with the First Silesian War, Saxony decided to invade Bohemia in 1741. Austria, however took advantage of weak Saxon support. As quickly as Saxony invaded, Austria repulsed Saxon troops even faster. Within a few years, Saxony, who was hoping to take advantage of a seemingly golden situation, had to turn to Austria for help against Prussia.

Another Elector tried to gain a foothold. Charles Albert of Bavaria contended for the Imperial title, and actually won the title in 1742. Bavarian soldiers marched into Upper Austria as Frederick II invaded Silesia in 1741. Bohemia fell in the next year, and Charles Albert crowned himself King of Bohemia. Charles Albert further strengthened his position by secretively securing French and Spanish aid against Austria. French troops began arriving in Bohemia, when Maria Theresa then proved her strength in weakness. She travelled to Pressburg (Bratislava), the then Hungarian capital, to address her plight. With an impassioned and emotional speech, Maria Theresa gained full support from the Hungarian nobility. Soon, a quickly assembled army was created to expel Franco-Bavarian influence.

Maria Theresa’s new army quickly removed the invading forces from Upper Austria and Bohemia, but Charles Albert was still elected as Holy Roman Emperor. Oddly enough, the Austro-Hungarian army invaded Bavaria in 1742. During this time, Maria Theresa proved to be rather shrewd. She openly published the negotiated agreements of her and Frederick II’s truce. By so doing, Maria Theresa placed Frederick II in an entangled mess with his allies. As the First Silesian War was not yet ended, Frederick II went on the offensive. Now Emperor Charles VII of Bavaria hoped to receive aid from Frederick II’s invasion. He asked the Prussian King to divert Austrian forces away from Bavaria. Frederick also received aid by France, Saxony, and what remained of Bavaria’s army as he captured Olomouc and Glatz. Their force, however, could not stop Austrians from capturing Linz. Brno soon followed, as Frederick could not stem the Austrian tide. What seemed to be imminent Austrian failure was now becoming Austrian success. Frederick, being outmaneuvered, had to fall back toward Silesia. Prince Charles Alexander of Lorraine, in service of Maria Theresa, pursued Frederick to Chotusitz, where Frederick II’s cavalry won the day. A panic spread through the previously supreme Austrian army, which gave Frederick II supremacy once again. To illustrate how entangled this war became, Frederick II’s victory at Chotusitz in 1742, was what brought the First Silesian War to a close.

War continued to rage in 1743. Franco-Bavarian troops proved to be incapable of working together. Commanders openly argued, and soldiers did so likewise. Charles VII, though now Emperor, could not maintain a viable army. Austrian forces returning from their loss at Chotusitz found solace in hammering the Bavarians at Braunau. England entered the fray under King George II, who moved troops along the lower Rhine river. France viewed this action as a casus belli, and assembled a force to oppose the English. The French under Noailles put George II in peril. He was forced to fight his way out of a complete Franco-Bavarian surrounding. George II, King of England, also had interest in this conflict as he was Elector of Hannover. Hannoverian troops combined forces with Austrian and English forces against the Franco-Bavarians at Dettingen in June 1743. Against all odds, George II fought through the French ranks and inflicted a severe defeat upon the Franco-Bavarians. French troops were force to retreat across the Rhine and back into France. France then planned to invade Belgium, which brought the Netherlands into the conflict on Austria’s side. This war was expanding rapidly.

 

>War of the Austrian Succession – Introduction

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France was soon to realize that she would have a new and great enemy, Prussia. As it was Prussia was just one of the many kingdoms that comprised the Holy Roman Empire. However, with the rise of Frederick Willelm I and Frederick II, Prussia was at this time an emerging power. She needed France’s help against the old French enemy, the Habsburgs, who controlled the Holy Roman Empire. Frederick Willelm I and Frederick II were Hohenzollerns, a powerful northern German house. They decried succession proceedings, which sought to install Maria Theresa upon all of her father’s, Emperor Charles VI, thrones, except the Holy Roman Empire. The Empire had never had a Queen, and Maria Theresa was not to become an Empress. The issue, according to Frederick II, was the Salic Law – which provided only for male succession to the Imperial title, and not the husband of an Austrian Queen.

Charles VI realized issues would arise after his death. He knew that Maria Theresa could not claim the Emperor’s throne, so he willed his lands to his daughter, but desired his son-in-law Francis-Stephen to become Emperor. Charles skillfully outmaneuvered most diplomats, and secured acceptance of the Pragmatic Sanction in 1713. Decades later, the accepted Pragmatic Sanction was breeched as Frederick II invaded Silesia. Frederick claimed that the 200 year old Treaty of Brieg granted Prussia the Duchy of Brieg. Frederick hoped to expose feminine weakness in Maria Theresa as a ruler. Other rulers soon followed Frederick’s lead, such as Bavaria’s Charles Albert who in turn claimed the Imperial throne. Maria Theresa was not weak, but she needed help, fast.

Prussia had long been at peace, but this did not mean she was weak. Frederick Willem I created one of the modern world’s first professional armies. He organized and drilled the Prussian military constantly, which meant they were ready for war at a moment’s notice. Other European armies still had to be levied from militias, which could take weeks to months to form and train. As a result, Prussia invaded Silesia with no opposition, and no opposition would arrive for months. Prussian military forces occupied all of Silesia, thus doubling Prussia’s size and natural resource capacity. Wisely, Prussian soldiers treated this newly occupied territory humanely. Though quartering was necessary, and done, those quartered troops did not loot, rape, and murder any of the Silesians.

Against the soon to die Cardinal Fleury’s wishes, Louis XV desired to enter this war. Louis had hoped, as did other monarchs, to cash in on Habsburg weakness. Fleury was not so sure Austria was weak. No matter, in 1741 France allied itself with the Anti-Austrian cause, which included Prussia, Spain, Bavaria, Saxony, and other lesser states. Maria Theresa also had allies, powerful ones such as England, Russia, and the Netherlands. The Silesian War, as Prussia’s invasion was called, soon included the War of Jenkins’ Ear between England and Spain, and almost all of Europe’s nations. The war would not be contained to just Europe, but it was spread to the New World as well, where it became known as King George’s War. Louis, by the end, certainly should have listened to his former tutor, and now dead Prime Minister Cardinal Fleury.

 

>Louis XV’s Ladies

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Though Louis enjoyed a few years of happiness with his Polish wife, who bore 10 children in almost as many years to Louis, he claimed to be bored. His claimed to be bored with everything, war, politics, economics, learning… There were only two things of which Louis was not bored, hunting and women, which for Louis both exploits were often combined.

Louis’ adultery was quickly uncovered, not that he tried to hid his lechery. Marie began complaining to her father Stanislas about Louis’ promiscuity in 1734. Louis had begun sleeping with Madame de Mailly. He then chose de Mailly’s younger sister Madame de Vintimille, and continued through the family of sisters with Marie-Anne de Mailly. Queen Marie could not tolerate, nor handle Louis’ debauchery, so she turned to the Catholic Church for solace. Louis, not satisfied found more women. He found many other women common and aristocratic alike. In 1744, Louis created a firestorm when he departed for the front to take command of the French Army during the War of the Austrian Succession. Louis invited his then mistress, the Madame de Chateauroux, along for the trip. Initial responses were openly negative, especially as Louis somewhat flaunted his infidelity. Matters grew worse for Louis, who fell deathly ill at Metz. The French began a campaign of national prayer for their monarch, but the King’s First Chaplain Monsignor de Fitz-James would only grant Louis absolution if Louis renounced his adultery. Louis refused to do so. His confession was then announced and published publicly, which greatly affected Louis’ reputation. Madame de Chateauroux fled the scene, and endured much animosity from French mobs. Louis returned to health, and in spite of his amorous pursuits, earned the title “The Beloved”, because he escaped what seemed to be certain death.

Regardless of Louis’ near death experience, he continued to be bored, and continued to seek sex. Many women came and went, but one Jeanne-Antionette Poisson, a commoner, caught Louis’ long-term affection. Poisson was later made the Marquis de Pompadour. She, ironically, met Louis at a masque for the Dauphin’s, the future Louis XVI’s, marriage celebration. Pompadour’s family was caught up in political intrigue, especially in the realm of finance, and was somewhat culpable for the previous minister Louis de Bourbon’s dismissal. Pompadour was everything Louis desired, beauty, intellect, poise, power, exciting. Had it not been for her commoner status, Louis would have chosen Pompadour for a wife instead of a mistress. His involvement with Pompadour was widely known, but also widely condemned as she was not aristocratic like all of Louis’ previous paramours. In spite of Pompadour’s birth, she in a manner of speaking, ran France through Louis’ lusts. She had many appointees accepted in the government, while in turn destroying other government official’s careers. She had the successful Comptroller General Philibert Orry as well as the Secretary of the Navy Maurepas dismissed from office in favor of her own candidates. Pompadour solidified her power by moving into one of the apartments at Versailles. Louis XV spent considerable time with his mistress, even after she fell ill and could no longer sleep with the king. Louis kept her opinions close, and sought her advice often until her death in 1764.

Pompadour had a lasting influence upon France through the arts. She helped to secure funding for many French artists, architects, and philosophers. Voltaire was counted as being among her friends for instance. She was certainly responsible for creating the style attached to Louis XV’s name, and may boast responsibility for erecting the Place Louis XV (presently the Place de la Concorde) as well as the Ecole Militaire. She obtained an immense collection of furniture, porcelain, and other art objects, which have today become highly prized. Louis could care less about all of that, he had his mistress. When sex was no longer an option, Louis stepped further into wickedness. He began to visit the Parc-aux-Cerfs and importuned prostitutes to sleep with him. His reputation for women grew, and today it can be difficult for one to decipher truth from myth. He did have many rendezvous with one notable woman Marie-Louise O’Murphy, who did have some influence over Louis, but nothing as great as Madame de Pompadour’s control.

Louis would have rather done nothing but hunt and sleep with women during his monarchy. For this attitude France would greatly suffer an unendurable amount of setbacks. Problems arose immediately after Louis’ last Prime Minister, Cardinal Fleury died in 1743. War broke out, and Louis had no idea how to fight, nor did he have a clue about how to govern a kingdom.

 

>John Law’s Mississippi Bubble

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Louis XIV’s France was financially strapped upon his death. Due to immense political intrigue, Louis’ nephew – and son-in-law – Phillippe Duke of Orleans became Louis XV’s regent. His regency was disastrous almost from the start, but widely differing accounts shift much of the blame to Louis XIV’s lengthy expansionistic wars. What cannot, and consequently is not, debated was Phillippe’s unprecedented foolish involvement with the Scottish economist John Law.

Law was born to a Scottish goldsmith and banker in the late 1600’s. He showed mathematical genius from an early age, and tried to use that mental aptitude to get ahead while gambling. He quickly gambled the family fortune away, however, while also chasing women. Law, trying to guard his “honor”, challenged a duel over one of his many women. He killed his opponent, and was tried for murder. Law was found guilty and sent to prison – not like today’s prison; prison usually was a death sentence during Law’s day. Law escaped from his holding cell and fled to Louis XIV’s France, and for the next few years, Law would frequently travel between The Netherlands and France. While in Paris, Law became acquainted with Phillippe, Duke of Orleans, at a card game. Phillippe, soon to become the French Regent, realized Law’s “potential” after Law produced and published two economic treatises The Scarcity of Theory Value and Real Bill Doctrine, which argued for a fiat currency system.

When Phillippe became Regent, he realized the dire financial circumstances that France was experiencing. Law, using his connection with Phillippe, approached the Regent at court and advanced his theories to fix the faltering French economy. (So poor was the economy that taxes could not cover the interest on French war debts!) Law was granted a bank, Banque General, almost on the spot by Phillippe, who watched Law closely. The Bank began to print paper currency, which was in theory supported by the Bank’s assets in precious metals. Law wanted to expand (ie. Inflate) the French currency in order to increase commerce. He believed the only way to do such an operation was wean the economy off of traditional value sources, such as Gold and Silver. The French Government rallied behind Law’s scheme and further granted him a monopoly over New World trade. The Compagnie d’Occident (Company of the West) was founded to govern trade along the Mississippi River in 1717. A dual monetary system was established within the company, beaver skins in the north and precious metals in the south. To ensure the company’s success, Law was granted a charter for 25 years, in which time Law promised to populate and settle the Mississippi River basin. The French as a result began calling the company the “Mississippi Company.” Law had to finance his plan, so he put his paper currency scheme to work.

Law began selling shares to finance the Mississippi Company’s operations. He sought cash and state bonds, for which he offered extremely low interest rates. This action in theory was to bolster French finances, while funding his company. Traditional French aristocrats hoped to get rich off of Law’s scheme, but get rich in gold and silver, not cash. The common classes also saw an opportunity as cash was cheap, and credit was blindly extended to the masses. The French Government further aided Law’s ideas by granting him a monopoly over tobacco trade in Africa. The Banque General was also nationalized and renamed the Banque Royal in 1719. Law was still in charge, but now his paper money was backed by the French Crown. One final boon set Law over the top, he was granted more trade monopolies throughout the French Colonial Empire, this time in Asia. Law renamed his Mississippi Company the Compagnie des Indes, which now controlled all French trade outside of Europe.

With no ceiling to Law’s growing influence, he purchased the right to mint French coinage. These coins would have no precious metals in them, which put Law’s theories into full action. Law next assumed legal control over French taxation, as his financial power began to resemble Louis XIV’s governmental authority. By 1720 all financial institutions were under Law’s supreme command. Phillippe bestowed the title “Controller General and Superintendent General of Finance. Success seemed to breed success, but it was all a mirage. He continued to print paper money to fund his growing financial empire. That paper money was guaranteed and founded upon government debt, which grew rapidly.

Initial shares of the Mississippi Company were sold for 500 Livres (French currency at the time). The shares value quickly expanded, which brought speculators from all over France and Europe into Paris’ financial district. This became a scary sight for the Parisians, and Phillippe had to order police into the district to maintain control. Within the first year of existence the price per share had increased dramatically from 500 Livres to 10,000 Livres – 190%. Many people aristocratic and commoner alike became Millionaires, as the French termed this new wealthy class. Inflation, however, soon caught up to Law’s scheme. He continued to print more paper money, and the value of the shares, though high denominationally, became increasingly devalued monetarily. Those who realized the falling trend began trading paper money for precious metals. Law could not allow the sell off, so he issued a restriction on pay outs – no payment in gold above 100 Livres. Law further made his paper currency “legal tender”, and people began using worthless money to pay off debts and taxes. Law’s bank also offered to trade the paper currency for shares in the Mississippi Company for the 10,000 Livres standard. In one fell swoop, Law doubled French currency, and further devalued the already worthless “money.” Soon, rates of inflation were above 20% a month by January 1720. That’s right, all of this took place in under one year.

Law further compounded the increasingly dire situation when he devalued the Mississippi Company’s shares. He cut the value of bank notes by 50%, which sparked a frenzied offloading period. Investors tried to sell their declining shares to any idiot that could be found. Shares purchased at 10,000 Livres were now being sold for 2,000 Livres in September 1720, then 1,000 Livres in December 1720, and finally back to 500 Livres in January 1721. Fortunes were hastily made, then disastrously lost within the space of months. Before Law was dismissed in March 1721, he ordered the French currency to be devalued another 50%, which pushed the French back into buying precious metals. There was not enough precious metals to support the behemoth fiat structure; however, and Law outlawed any precious metals exchange. He offered paper money rewards to anyone who would expose precious metals trading. Many were found guilty and killed for this exchange, which was the last straw. Law fled France for Venice a broken and poor man. He died in Venice 8 years later in 1729 in poverty. France needed decades to overcome this economic debacle, thought it never really did overcome Law’s meteoric rise and subsequent fall.

 

>18th. Century Europe – through Louis XV’s France

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After Louis XIV died, Europe boldly moved into a new era. France now had Louis XV, England saw George I ascend to the throne, Spain was rapidly declining, Russia started to emerge under Peter the Great, Sweden all but disappeared from the world stage, German princes became increasingly powerful, the Dutch entered a dangerous peacetime, and the Popes were marginalized. Such a wide spectrum cannot be fully covered here and now, but for the continued narrative, lets remain focused upon France. France was still the most powerful and most influential nation in Europe at the beginning of the 18^th century. It would remain equally as influential and more powerful at the end of the century; however, for all of the wrong reasons.

Louis XV was crowned King of France on September 1, 1715, immediately after Louis XIV died, according to French tradition “Le Roi est mort. Vivre le Roi.” The new Louis inherited an immense kingdom that touched Europe, Asia, Africa, and the New World. His was a time of immense promise, for which Louis XV became popular and was affectionately titled “Louis the Beloved.” However, the new Louis was no old Louis. He did not have the intellect that Louis XIV possessed, nor did he have the brash style that made his grandfather famous. Instead, Louis XV possessed insolence; a highly destructive insolence that ran France into poverty through financial blunder after financial blunder. Louis would follow up his blunders with severe losses overseas. Louis XIV could rule without much help, as he liked, but Louis XV needed all the help he could muster. Yet, one of Louis XIV’s lasting legacies was that the French King was absolute, that is the King is Law. Even if Louis was offered advice, which he was often, Louis XV did not have to heed it, as he seldom did. Louis realized many of his mistakes all too late, as is attributed to him with the phrase “Apres moi, le deluge”, that is “After me, the flood.” What steps led Louis to such a tragic reflection of his life and his future?

 

>Louis’ Death and Legacy

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Louis died of gangrene on September 1, 1715, just 4 days shy of his 77^th birthday. He had been King of France for 72 years. He was preceded in death by the next heirs apparent, which left Louis’ grandson, the 5 year old Louis Duke of Anjou, as next heir to the French throne. Louis XIV undertook a series of legal proceedings to ensure Louis XV’s success. He tried to alienate potential conflicts, and hinder opposition. Regardless, Louis’ attempts were largely nullified once he was dead. Louis the Duke of Anjou did become king, but his minority was not carried out the way that Louis XIV had desired. Regardless of his unheeded desires concerning Louis XV, Louis XIV did leave an immense legacy for his grandson, and a powerful kingdom to illustrate such a legacy.

Depending on bias, Louis was either the greatest French, even European, king ever. Or, Louis was the embodiment of pure tyranny. Louis arrogantly claimed “L’Etat, c’est moi”, that is “I am the state.” He truly worked the entire French political and in large part religious structure around his throne. Much of this could not have been done had it not been for Cardinals Richelieu and Mazarin, whose tireless statecraft created a strong monarchy, which Louis exploited to the fullest. Louis, after the Frondes, obliterated once powerful feudal concerns, and castrated all aristocratic power, though the aristocrats did not realize it at the time. Louis quelled all civil wars, and even had anti-Catholic support for some time, until the revocation of Nantes – his singular greatest blunder.

Though previously civil war ravaged France had been pacified and unified, Louis still kept Frenchmen fighting. His numerous wars were a mixed bag of success and failure, again depending on which view one could take. Louis was either the master warrior who expanded French borders, military might, and projected power globally. France during and immediately after Louis was feared, exactly what Louis wanted. However, Louis’ wars came at a cost. He impoverished the government, brought hardship upon the increasingly burdened bourgeois, and hampered the once burgeoning French economy. He won some territory, and lost others, especially to an increasingly powerful England. French wars did not severely plague the French elite, who after Louis XIV invested in the Mississippi Company and then lost all their money. John Law’s infamous stock swindle hurt France much more than Louis’ pride.

Louis stylized a profound French art. His funding as previously penned, is solely responsible for the lasting legacy of plays, art, and architecture. Louis’ name is borne upon anything produced during his vast reign. Beauty was without a doubt one of Louis’ achieved goals, as time has consistently attested. And for some time France remained supreme in all artistic aspects, until a new art, impressionism, re-established French artistic hegemony, and further built upon Louis’ legacy.

Louis’ centralized government was hugely successful, but to remain successful, France needed another Louis XIV. Louis’ grandson was incapable of his grandfather’s greatness. Louis XVI proved to be even more inept. On this notion, Louis did spur French greatness as immediate evidence proved; however, Louis’ enduring legacy was on that could not be managed. France fell into a period of decline after the War of the Spanish Succession and John Law’ “Mississippi Bubble”, which led to serious problems, and ultimately the French Revolution before the century closed. France would not have a leader on Louis XIV’s level until Napoleon, yet the results were predictably the same. Bottom line – Without Louis, France would have remained in Feudal/Religious Civil War, yet With Louis, France was on path for Revolution. For now, Louis was dead, long live the King – Louis XV.