What did Jean baptist Colbert do as finance minster in France?

Answer 1

As finance minister of France from 1664-1683 under the reign of Louis XIV, Jean-Baptiste Colbert significantly tightened the process of tax collection. He tried to eliminate tax farming (tax farming allowed collection agents to retain for themselves a fraction of the taxes they gathered). In 1664 (when Colbert assumed office), only 25% of the taxes collected in France reached the treasury. When he died in 1683, 80% of the taxes reached the treasury.

In addition to this, Colbert tried to increase the nation's income through regulations and control of France's foreign trade. Colbert was a steadfast mercantilist and believed that France's wealth would increase if imports were reduced and exports increased. To enforce this idea, he imposed tariffs on foreign imports into France and used state money to promote domestic manufacture of imported goods, like glass, tapestries, lace, and silk. As another way to advocate domestic trade, Colbert improved France's waterways, bridges, and roads.