Nicolas Desmarets
Encyclopedia
Nicolas Desmarets, Marquis De Maillebois (September 10, 1648, Paris
– May 4, 1721, Paris) was a Controller-General of Finances
during the reign of Louis XIV of France
.
Desmarets was a nephew of Jean-Baptiste Colbert
and therefore rose through the ranks of the financial administration rapidly. He was exiled upon Colbert's death in 1683, however, for his alleged role in a counterfeiting scheme. After returning to Paris in 1686, Desmarets published a series of memoranda that exposed the deplorable economic situation of France
.
Desmarets was made director of finances in 1703 and replaced Michel Chamillart
as controller general in 1708. Desmarets undertook several policies aimed at restoring France's financial status while in office, including postponing repayment of loans, securing lower interest rates on certain loans, creating a royal lottery, devaluing metal currency, and instituting a ten percent tax on income in 1710. While these measures helped France stay afloat during the War of Spanish Succession, the public debt became unmanageable, and Desmarets recommended in 1715 that the state should declare itself bankrupt. Desmarets was dismissed from office after Louis XIV's death that year.
His son Jean-Baptiste
became a Marshal of France
.
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
– May 4, 1721, Paris) was a Controller-General of Finances
Controller-General of Finances
The Controller-General of Finances was the name of the minister in charge of finances in France from 1661 to 1791. The position replaced the former position of Superintendent of Finances , which was abolished with the downfall of Nicolas Fouquet.- History :The term "contrôleur général" in...
during the reign of Louis XIV of France
Louis XIV of France
Louis XIV , known as Louis the Great or the Sun King , was a Bourbon monarch who ruled as King of France and Navarre. His reign, from 1643 to his death in 1715, began at the age of four and lasted seventy-two years, three months, and eighteen days...
.
Desmarets was a nephew of Jean-Baptiste Colbert
Jean-Baptiste Colbert
Jean-Baptiste Colbert was a French politician who served as the Minister of Finances of France from 1665 to 1683 under the rule of King Louis XIV. His relentless hard work and thrift made him an esteemed minister. He achieved a reputation for his work of improving the state of French manufacturing...
and therefore rose through the ranks of the financial administration rapidly. He was exiled upon Colbert's death in 1683, however, for his alleged role in a counterfeiting scheme. After returning to Paris in 1686, Desmarets published a series of memoranda that exposed the deplorable economic situation of France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
.
Desmarets was made director of finances in 1703 and replaced Michel Chamillart
Michel Chamillart
Michel Chamillart or Chamillard was a French statesman, a minister of King Louis XIV of France.He was born in Paris of a family recently raised to the nobility...
as controller general in 1708. Desmarets undertook several policies aimed at restoring France's financial status while in office, including postponing repayment of loans, securing lower interest rates on certain loans, creating a royal lottery, devaluing metal currency, and instituting a ten percent tax on income in 1710. While these measures helped France stay afloat during the War of Spanish Succession, the public debt became unmanageable, and Desmarets recommended in 1715 that the state should declare itself bankrupt. Desmarets was dismissed from office after Louis XIV's death that year.
His son Jean-Baptiste
Jean-Baptiste Francois des Marets, marquis de Maillebois
Jean-Baptiste François Desmarets , marquis of Maillebois, was a Marshal of France.He was the son of Nicolas Desmarets, Marquis De Maillebois Controller-General of Finances during the reign of Louis XIV of France and nephew of Jean-Baptiste Colbert.He learned the art of war from Claude Louis Hector...
became a Marshal of France
Marshal of France
The Marshal of France is a military distinction in contemporary France, not a military rank. It is granted to generals for exceptional achievements...
.