This creation, more than a century after that of the Bank of England, was part of a broader movement to build French institutions and restore public accounts after the bankruptcy of the State under the Directory – the “bankruptcy two-thirds.” To unify the “grains of sand” of the nation, “masses of granite” were needed, according to his famous expression.
Today, when we draw up the balance sheet of the Consulate of the Empire, the Bank undoubtedly appears in the assets. To use the words of the First Consul, the Bank and the germinal franc are “ two masses of granite thrown on the ground of France “. The least we can say is that the Bank has gained in agility, but it is thanks to these solid foundations that France has been able to heal the wounds of the Revolution, finance its trade and develop its industry since 1800. .
Among the major dates in the history of the Bank, let us note 1806, 1936, 1945, 1993 and 1999: at its creation, the bank was a listed company and its capital was held by private shareholders. It was led by the regents. In 1806, the Emperor wanted the State to have a leading role in the management of the Bank and the currency, which is a bin public. According to his formula, “ I want the bank to be fairly in the hands of the Government and not be too much in it,” he decided to appoint a governor at its head, assisted by two deputy governors. He also had it written into law that “The governor and the two deputy governors will take, in the hands of His Majesty the Emperor, the oath to well and faithfully direct the affairs of the Bank, in accordance with the laws and statutes. » In 1936, the regents who represented private interests were replaced by general councilors appointed by the Government. On December 2, 1945, 80 years ago, the Bank was fully nationalized and the State became the sole shareholder. In 1993, the principle of independence of the Bank was enshrined in law, and six years later the Eurosystem and our common currency were created.
France
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