It confirms that the Ancien Régime was witness to a strong economic upsurge. Tocqueville was the first to suggest as much, but it was only at the start of the twentieth century that two non-French scholars, the Russian Ardasev and the German Adalbert Wahl, working independently of each other, confirmed his insight using statistically-based scholarly methods.

The boom had already begun under Louis XV, was briefly halted by the Seven Years War, then gathered pace again under Louis XVI. The number of iron mines and furnaces grew. Previously France had bought the iron needed for its manufactures from England and Germany; now it produced its own, in the steelworks of Alsace, Lorraine, Nantes and above all Amboise. There were huge advances in the textile industry, especially in wool-weaving, while Sèvres porcelain, Gobelin tapestries, St Gobain glass, Baccarat crystal and faience ware from Rouen and Nevers supplied the world. The Machine had begun its triumphal progress. Marseilles became one of the world’s leading ports. Following the Peace Treaties of Versailles, a trade agreement was made with Britain in 1786 which proved favourable to France’s agriculture but rather less so to her commerce and manufacturing. Nonetheless, the country remained the second richest in the world after England. (In the aftermath of the Revolution, it was not until 1835 that trade returned to its level of 1787.) Perhaps we might also mention, as another sign of this accelerating heartbeat, that the stock market had grown to such proportions during the reign of Louis XVI that in 1783 Mirabeau felt obliged to deliver his thundering proclamation against it.

When Louis XVI ascended to the throne, symptoms of wealth were evident on every side. They found exactly the sort of expression you would expect from his reign. The towering coiffures worn by the ladies gave symbolic representation to the general feeling: at the coronation of Louis XVI their heads were as heavily laden as the wheat fields in the countryside.

And the deranged economic situation in the kingdom, the credit deficit that sparked off the Revolution? Well, yes. But that financial crisis involved the Royal Treasury, not the country at large, and certainly not the people. It was a matter of the King’s—that is, the State Treasury’s, expenditure exceeding its income. The position could have been helped in one of two ways: either by reducing outgoings or increasing revenues. The private tragedy of the monarchy, it could be said, was that given the situation they were in at the time they could not, for purely internal reasons, hope to achieve either. But the relative affluence or poverty of the country as a whole was not the issue.

The general upswing under Louis XVI can be observed not just in the economic arena but also in foreign politics. After the pointless and in some ways disreputable military campaigns of his two predecessors, France, guided by the gentle King and his outstanding Foreign Minister Vergennes, now pursued a sensible policy of peace. Louis resisted the military adventures into which his restless ally Joseph II (Marie-Antoinette’s brother, whom we know as our own ‘hatted king’) tried repeatedly to draw him. He involved himself in only one war, against England, over American independence. That war was reasonably painless, with minimal loss of French blood, and long periods of fluctuating fortunes during which the English would occupy French colonies and the French would occupy English ones, until at last, in 1781, the combined American and French armies achieved their decisive victory at Yorktown. In 1782 Lafayette, the French hero of the American war, returned home to be crowned with laurel in the Opera House. On 3rd September 1783 the Versailles Peace Treaty was signed (and what a fateful second such treaty was to follow it!). The French were not much pleased by its conciliatory terms, but were nonetheless delighted that they had erased the blot inflicted on their gloire during the Seven Years War.

But it was above all in the world of ideas that this all-embracing upsurge could be felt. In 1780, Tocqueville tells us, the French lost the feeling that their country was in decline, and it is precisely at this moment that we see the emergence of the belief in human perfectibility, the notion that in time both man and the world could become ever better and better—in short, the idea of Progress. The signs were everywhere: flying boats soaring into the skies—Montgolfier with his hot-air balloon and Charles suspended beneath one filled with hydrogen; some, like Pilâtre de Rozier, plunging into La Manche and drowning; others, like Blanchard, flying over it and planting the French flag on the English side. New machines were being invented, new medicines discovered. Under Buffon’s canny eye the immense age of the planet was coming to light. Since the excavations at Pompeii the glories of the ancient world had come to enjoy a new renaissance, and people were starting to have a true understanding both of how it felt to be alive in those days, and of the classical cult of beauty: magnus ab integro saeculorum nascitur ordo—A whole new order is being born out of the fullness of time.

No, in no way could it be said that this was an age of decadence, the morbidly-beautiful autumn of an old and dying regime. Historical periods cannot be likened to decades: each carries the seeds of the next.