Jacques Laffitte French banker, politician, and statesman Date of Birth: 24.10.1767 Country: France

1. Jacques Laffitte: A Statesman of the July Monarchy
2. Early Life and Business Career
3. Political Career
4. July Revolution of 1830
5. Prime Minister
6. Decline and Legacy

Jacques Laffitte: A Statesman of the July Monarchy

Jacques Laffitte was a prominent French banker, politician, and statesman during the July Monarchy. Throughout his career, he played a significant role in shaping French political and economic landscapes.

Early Life and Business Career

Born on October 24, 1767, in Bayonne, France, Jacques Laffitte was the son of a carpenter. He began his business career as a clerk for banker Jean-Frédéric Perregaux in Paris. In 1800, he became a partner in Perregaux's bank and eventually inherited the business. Laffitte served as president of the Bank of France and the Chamber of Commerce in 1809 and 1814, respectively.

Political Career

From 1814 until his death, Laffitte served as a member of the Chamber of Deputies, except for brief intervals. During the Bourbon Restoration, he was a member of the opposition and advocated for the accession of Louis-Philippe I to the French throne. However, in 1824, Laffitte supported the unpopular conversion of the state debt, which caused him to lose some support.

July Revolution of 1830

Laffitte played a crucial role in the July Revolution of 1830, which overthrew the Bourbon monarchy. He was chairman of the meeting of deputies that appointed Louis-Philippe as lieutenant-general of the kingdom. Laffitte's influence was instrumental in persuading Louis-Philippe to accept the throne.

Prime Minister

On November 2, 1830, Jacques Laffitte was appointed Prime Minister of France. As head of government, he faced the challenge of balancing different political currents. He implemented a press law that faced criticism from the left, and his electoral law was deemed insufficiently liberal by the Chamber of Deputies.

Decline and Legacy

Gradual loss of support led to Laffitte's resignation as Prime Minister on March 13, 1831. He became a vocal critic of the government but did not play a prominent role in politics again. In 1843, Laffitte was elected President of the Chamber of Deputies.

Jacques Laffitte's financial crisis in 1828 and the losses he incurred during the revolution severely impacted his banking business. In 1831, his bank suspended payments. Despite selling his assets, he was able to repay his debts by 1837 and established a new bank. However, this venture also closed in 1848.

Jacques Laffitte died on May 26, 1844, and is remembered as a key figure in the political and economic history of the July Monarchy. His contributions to the French banking system and his role in the 1830 revolution left a lasting impact on the nation.