Laffitte, JACQUES,

Laffitte, JACQUES, a French banker and statesman, born at Bayonne, 24th October 1767, began life as a banker's clerk in Paris, and in 1805 began business on his own account. He soon acquired great wealth and in 1814 was made governor of the Bank of France. After the second restoration he joined the opposition in the Chamber of Deputies, and enjoyed the highest popularity in Paris; he was elected by all twenty sections in the city in 1817. In 1830 he made his house the headquarters of the friends of the revolution, and out of his private means supplied great part of the funds for carrying through the movement. In November he was entrusted with the formation of a cabinet, but he only held power until 12th March following. Meanwhile he was obliged to sell his property to pay his debts. A national subscription preserved him his hôtel in Paris; and from the ruins of his fortune he founded a new Discount Bank in 1837. As the government receded from the principles of the revolution of 1830, Laffitte became more and more active in opposition. In 1843, to the great displeasure of the court, he was elected president of the Chamber of Deputies. He died at Paris, 26th May 1844. The Souvenirs de J. Laffitte, racontés par lui-même (3 vols. Paris, 1844), were written by Marchal.