page_title: Jean-Baptiste Colbert
section_title: Economic reform
hierarchical_section_title: Jean-Baptiste Colbert / Biography / Economic reform
context_page_description: Jean-Baptiste Colbert was a French statesman who served as First Minister of State from 1661 until his death in 1683 under the rule of King Louis XIV. His lasting impact on the organisation of the country's politics and markets, known as Colbertism, a doctrine often characterised as a variant of mercantilism, earned him the nickname le Grand Colbert.
  A native of Reims, he was appointed Intendant of Finances on 4 May 1661. Colbert took over as Controller-General of Finances, a newly-elevated position, in the aftermath of the arrest of Nicolas Fouquet for embezzlement, an event that led to the abolishment of the office of Superintendent of Finances. He worked to develop the domestic economy by raising tariffs and encouraging major public works projects, as well as to ensure that the French East India Company had access to foreign markets, so that they could always obtain coffee, cotton, dyewoods, fur, pepper and sugar. He acted to create a favourable balance of trade and increase colonial holdings. As there was slavery in the colonies, Colbert also drafted the Code Noir which was to be promulgated two years after his death.
context_section_description: With the abolition of the office of superintendent and of many other offices dependent upon it, the supreme control of the finances became vested in a royal council. The sovereign functioned as its president; but Colbert, though for four years he possessed the title only of intendant, operated as its ruling spirit, having had great personal authority conferred upon him by the king.
  His ruthlessness in this case, dangerous precedent though it gave, seemed perhaps necessary; the council could not respect individual interests. When he had severely punished guilty officials, he turned his attention to the fraudulent creditors of the government. Colbert had a simple method of operation. He repudiated some of the public loans and cut off from others a percentage, which varied, at first according to his own decision, and afterwards according to that of the council that he established to examine all claims against the state.
  Much more serious difficulties met his attempts to introduce equality in the pressure of the taxes on the various classes. To diminish the number of the privileged proved impossible, but Colbert firmly resisted false claims for exemption, and lightened the unjust direct taxation by increasing the indirect taxes, from which the privileged could not escape. At the same time he immensely improved the mode of collection on his own.
  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 bringing the economy back from the brink of bankruptcy. Historians note that, despite Colbert's efforts, France actually became increasingly impoverished because of the King's excessive spending on wars.
caption: Colbert en grande tenue
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