Dominique-Vincent Ramel-Nogaret
French finance minister who repudiated two-thirds of public debt.
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Dominique-Vincent Ramel, known as Ramel de Nogaret, was a French lawyer and politician who served as Minister of Finance under the French Directory. He was an energetic reformer who managed the difficult transition from assignats to money and repudiated two-thirds of France's public debt, but was blamed for many of the financial problems of his time.
Background
As Minister of Finance from February 1796, Ramel developed the idea of the land registry, managed the transition from assignats to money, and established taxation agencies. On 30 September 1797, he repudiated two-thirds of France's public debt.
Despite accusations of collusion with army suppliers, he was no richer when he left office in July 1799. He retired during the Consulate and Empire, but supported Napoleon during the Hundred Days. After the second Bourbon Restoration, he was exiled as a regicide to Belgium, where he died.
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Sources
Compiled from Wikipedia and the sources listed below. Text from Wikipedia is available under CC BY-SA 4.0; this entry is adapted from it.
- Wikipedia: Dominique-Vincent Ramel-Nogaret (CC BY-SA 4.0).
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