Financial Reforms and the Public Report on Royal Finances

Jacques Necker was a Swiss banker who served as Finance Minister under King Louis XVI. Appointed during severe economic crises, he funded French involvement in the American Revolutionary War through massive loans while attempting structural tax reforms. In 1781, Necker published the Compte rendu au roi, making royal financial statistics public for the first time, which earned him immense popular acclaim. Recalled to office in 1788 to handle national bankruptcy, he advocated for calling the Estates-General. His sudden dismissal by Louis XVI in July 1789 triggered widespread outrage and served as a direct catalyst for the storming of the Bastille. Reinstated briefly, he supported a constitutional monarchy before retiring to Switzerland in 1790.

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