With the collapse of the ancien régime following a fiscal crisis, the Revolutionaries of the 1790s sought to design a more equitable tax system, based on direct taxes; most indirect taxes were abolished. These new taxes, though, proved insufficient to meet France’s needs, particularly given the collapse of public credit due to political instability. Committed to honouring the debt incurred by the ancien régime, and facing the mounting expenses of a major European war after 1792, the Revolutionary governments failed to stabilise the fiscal situation. Instead, they were pushed to compensate for insufficient tax receipts by levying forced loans, imposing price controls and printing money, which produced hyperinflation by the mid-1790s. These drastic measures, and their failure to resolve the fiscal problems of the 1790s, did much to discredit the Revolutionary regimes, and consequently facilitated the emergence of post-revolutionary politics under Napoleon.