2016-05-05 Thu

Did you know that the Banque de France, created in 1800, had Napoleon Bonaparte and members of his family as founding shareholders?

Prior to 1800, the financial powers of France rested with ten to fifteen bank houses whose owners hailed from Switzerland mostly. The financial upheavals of the revolutionary period had left in its wake a deep recession. During the revolution, the bankers who were mainly ‘Protestants’ sort help from Napoleon Bonaparte and as a reward for their help and support, Napoleon I gave the bankers a monopoly over French finance by giving them control of the new Bank of France.

Napoleon I, who was then First Consul, is credited with the establishment of the Banque of France, the first Central Bank in French history. And hence, the Banque de France was created on 18 January 1800.

In 1963 Napoleon, I was honoured on two designs of 100 new franc banknotes of France. The obverse of both the notes depicts Napoleon I’s portrait one set against Arc de Triomphe and the other set against Musee du Lovre. The reverse also sports the portrait of the emperor with the Church of the Invalides in the background.