That was why it had become necessary to bail out the nobility: with annuities, gifts, offices at Court commanding unheard-of salaries, and positions in the church and army. Later, perhaps, the need for all this fell away: all autonomous power had been leached out of the barons and they were no longer capable of mounting any sort of rebellion against the King (but nor could they provide him with support, one major reason why the Revolution triumphed so swiftly). By then, simple necessity dictated that they remain loyal to him. But by the time of Louis XVI, this once rational and necessary system of ‘reimbursement’ had come to seem a straightforward abuse, a pointless and unjustified luxury that quite rightly drew censure from the workers and provoked revolutionary anger in the people.

The next question is, what did they do with such vast sums of money? It is difficult for us now to believe they could spend so much. A modern American millionaire would struggle to do so. But American millionaires and other people with huge amounts of money are not grands seigneurs. The owner of a vast fortune achieved through economic activity will even in his wildest moments retain some degree of business sense, and preserve some sort of method even in his madness. But the old French grandees were never, in their most sober moments, thinking economists, and had no idea of system or method. Just where money went in the age of Louis XVI we shall seek to explain by means of a few extracts from the work by Taine mentioned earlier.

“The lady-in-waiting to Louis XV’s daughters, the three little old ladies known as the Mesdames, burned candles to the value of 215,068 francs, and the Queen 157,109 francs. In Versailles they still point out the street, once filled with little shops, where the royal footmen would come and feed the entire town on desserts left over from the King’s table. According to the official estimate, the King himself consumed 2,190 francs worth of almond tea and lemonade. The ‘round-the-clock’ consommé kept for Madame Royale, the two-year-old daughter of Louis XVI and Marie-Antoinette, cost 5,201 livres a year.” While Marie-Antoinette was still the Dauphine, the femmes de chambre ran up a bill against her account for “four pairs of shoes per week, three spindles of thread per day to stitch their hairdressing gowns, and two reels of ribbon to adorn the baskets in which her gloves and fans were kept.” (The rules forbade that one should simply hand them to her: they had to be presented in a basket.)

Naturally, tradespeople were never paid on time. When Turgot was Finance Minister the King ran a debt of some 800,000 livres with his wine-merchants, and 3,500,000 with his caterers. (Multiply these figures by ten, advises Funck-Brentano.)

Next come figures which confirm that the nobility did not lag far behind the Court in the scale of their debts and general spending. “On one occasion the Maréchal de Soubise (Rohan’s relation) entertained the King at his country mansion for dinner and the night. The bill came to 200,000 livres. Mme de Matignon allowed herself 24,000 livres a year for a new coiffure every day. Cardinal Rohan owned a needle-lace silk chasuble valued at over 100,000 livres; his saucepans were made of solid silver. And nothing could have been more natural, when you consider the way they thought about money at the time. To economise, to set money aside, was like turning a flowing stream into a useless, foul-smelling swamp. Better to throw the stuff out of the window. Which is precisely what the Maréchal de Richelieu did, when his grandson sent back the bulging purse he had been given because he ‘couldn’t think what to do with it’. So out it went—to the great good fortune the street-sweeper who picked it up. Had the man not happened to be passing by the money would have ended up in the river.

“Mme de B,” Taine continues, “once intimated to the Prince de Conti that she would like a portrait of her canary as a miniature set on a ring. The Prince volunteered his services. The lady accepted, but stipulated that the miniature should be kept quite simple, with no accompanying diamonds. She was indeed given a simple gold ring, but the picture was set not under glass but under a finely-cut sheet of diamond. She sent the diamond back, whereupon the Prince ground it to dust which he scattered over the letter she had written. The cost of this little heap of powder was between four and five thousand livres (raising questions about the tone and content of the letter). The highest gallantry often combined with the most extravagant generosity, and the more fashionable the gentleman, the weaker his understanding of money.”

However, the sheer size of these sums does give cause for wonder.

First and foremost: it could well be that Funck-Brentano’s principle of multiplying by ten is wrong.