Necker is finance minister (first time) (29 jun 1777 año – 19 mayo 1781 año)

Descripción:

Director-General of the Royal Treasury

Protestent

Commoner background

Could not hold office (religious reasons)

From Geneva

Was a constitutional monarchist

Publishes French budget (1st time ever done): "Compte rendu"

Budget says everything is fine - but he hid some debt.

By 1788 the inexorable compounding of interest on the national debt brought France to a fiscal crisis.

Necker was recalled to royal service.

When he was dismissed on 11 July 1789, it was a factor in causing the Storming of the Bastille.

Within two days Necker was recalled by the king and the assembly. Necker entered France in triumph and tried to accelerate the tax reform process.

Faced with the opposition of the Constituent Assembly he resigned in September 1790 to a reaction of general indifference.

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