Necker, Jacques

From Encyclopediak

Necker, Jacques 1732-1804, French financier and statesman, born in Geneva. In 1747 he entered a Paris banking house as clerk, and in time amassed a large fortune as a banker. In 1777 he became director-general of finances, in which capcity he advocated reforms in the financial policy of the government and endeavored to fund the French debt. This won him many enemies and finally forced his retirement to Switzerland. However, after the ministry of Calonne, the value of Necker's policy was recognized, and in 1788 he was recalled, only to be dismissed the following year. His removal caused an uprising, during which the Bastille was stormed, and though the banished minister was again recalled and accorded an ovation by the populace of Paris, he was not equal to the political or financial exigency, and resigned in 1790. Necker was the father of Madame de Stael. See STAEL-HOLSTEIN, ANNE LOUISE GERMAINE.