Fould, ACHILLE

Fould, ACHILLE, French financier and politician, was born in Paris, 31st October 1800, of Jewish parents. Early in life he was initiated into financial business in his father's bank. His political career began in 1842 by his election to the Chamber of Deputies for the Basses-Alpes. After the revolution of 1848 Fould accepted the new régime of the republic, and rendered considerable service to the provisional government in its financial affairs. During the presidency of Louis Napoleon he was four times minister of Finance between 1849 and 1852. Whilst in office Fould gave the first impulse to the foundation of the Crédit Mobilier. Early in 1852 he finally resigned, in consequence of the confiscation of the property of the Orleans family. The same day, however, he was created a senator, and shortly afterwards returned to power as minister of state and of the imperial household, which position he held until 1860. In 1861 he was reappointed finance minister, and retained that post until 1867. On the 5th October following he died at Tarbes.