Achille Fould (17 November 18005 October 1867) was a French financier and politician.

Early life

Achille Fould was born on 17 November 1800 in Paris. His father,

Beer Léon Fould Beer Léon Fould (5 March 1767 – 14 May 1855) was a French-Jewish banker, and the founder of the Fould banking dynasty. Born in Boulay-Moselle as the son of Jacob Bernard Fould, a small-time wine dealer, he began working for Herz Cerfbeer of ...

, was a

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

banker.

Career

Fould began his career as a banker for the family bank. As early as 1842 he entered political life, having been elected in that year as a deputy for the department of the

Hautes-Pyrénées Hautes-Pyrénées (; Gascon/Occitan: ''Nauts Pirenèus / Hauts Pirenèus'' awts piɾeˈnɛʊs es, Altos Pirineos; ca, Alts Pirineus alts piɾiˈneʊs English: Upper Pyrenees) is a department in the region of Occitania, southwestern France. ...

. From that time to his death he actively busied himself with the affairs of his country. He readily acquiesced in the revolution of February 1848, and is said to have exercised a decided influence in financial matters on the provisional government then formed. He shortly afterwards published two pamphlets against the use of paper money, entitled, ''Pas d'Assignats I'' and ''Observations sur la question financière''. During the presidency of Louis Napoleon he was four times minister of finance, and took a leading part in the economic reforms then made in France. His strong conservative tendencies led him to oppose the doctrine of free trade, and disposed him to hail the coup d'état and the new empire. On 25 January 1852, in consequence of the decree confiscating the property of the Orléans family, he resigned the office of minister of finance, but was on the same day appointed senator, and soon after rejoined the government as minister of state and of the imperial household. In this capacity he directed the Paris exhibition of 1855. The events of November 1860 led once more to his resignation, but he was recalled to the ministry of finance in November of the following year, and retained office until the publication of the imperial letter of 19 January 1867, when Émile Ollivier became the chief adviser to the emperor. During his last tenure of office he had reduced the floating debt, which the Mexican War had considerably increased, by the negotiation of a loan of 300 million francs (1863). In 1852, a scheme to establish a credit bank was put forward by the

Pereire brothers Émile Pereire (3 December 1800, Bordeaux - 5 January 1875, Paris) and his brother Isaac Pereire (25 November 1806, Bordeaux – 12 July 1880, Gretz-Armainvilliers) were major figures in the development of France's finance and infrastructure durin ...

with the support of Achille Fould (Minister of Finance). Based on this proposal, a Crédit Mobilier was created, which greatly facilitated the construction of new railways and harbours in France. Fould, besides uncommon financial abilities, had a taste for the fine arts, which he developed and refined during his youth by visiting Italy and the eastern coasts of the Mediterranean. In 1857 he was made a member of the Academy of the Fine Arts.

Personal life

Fould converted to Protestantism in 1858.

Death

Fould died in

Tarbes Tarbes (; Gascon: ''Tarba'') is a commune in the Hautes-Pyrénées department in the Occitanie region of southwestern France. It is the capital of Bigorre and of the Hautes-Pyrénées. It has been a commune since 1790. It was known as ''Turba'' ...

in 1867.

References

External links