After taking office, he discovered the nation had debts of 110 million livres (partly incurred by France's involvement in the American Revolution) and no means of paying them.Ford, F: "Europe 1780–1830", page 102. Longman, 2002 At first he tried to get credit and support the government with loans so as to maintain public confidence in its solvency. In October 1785 he reissued gold coinage and developed caisse d'escompte (dealing in cash discounts). Knowing the Parlement of Paris would veto a single land tax that all landowners would have to pay, Calonne persuaded Louis XVI to call an assembly of notables to vote on his referendum. Calonne's eventual reform package, which was introduced to the Assembly of Notables, consisted of five major points:
