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Database: Jacques Necker

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ACU Jacques Necker

Swiss-born banker, financier and politician, Jacques Necker was an advocate of the ideas of the Enlightenment. Louis XVI appointed him Director General of the Treasury, then of Finance, in 1776. It was Necker who suggested that the King use loans in order to finance the support that France intended to offer to the American insurgents during the war of independence. When France's debt grew too large, he was forced to resign. Called back in 1788 to remedy the situation, Necker was seen by the populace as a voice of reason. He advised the King to summon the Estate-General. When that didn't work well for the king, Necker was again dismissed on July 11, 1789, sparking an uprising at the Palais-Royal under the instigation of Camille Desmoulins, and, indirectly, the attack on the Bastille three days later. Necker was recalled one last time before resigning on September 3, 1790. He then retired to Switzerland to concentrate on writing works about financy and the economy.

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