Question 1

Who was Jean-Frédéric Perregaux and what was his profession?

Accepted Answer

Jean-Frédéric Perregaux was a Swiss banker based in Paris, born in 1744 in Couvet (principality of Neuchâtel) and died in 1808. The key thing to know is that he was one of the founding fathers of the Banque de France in 1800, becoming its first regent. He embodies the figure of the prudent financier who managed to survive the Revolution without going bankrupt, unlike many of his peers. His career illustrates the reconciliation between money and power under Napoleon.

Question 2

What was Perregaux's main role in French financial history?

Accepted Answer

His main role was co-founding the Banque de France on 18 January 1800 and serving as one of its fifteen founding regents. To understand this, one must remember that France was emerging from the chaos of the assignats, a paper currency that had lost all its value. What makes Perregaux decisive is that his reputation as an upright banker and his European network reassured investors about the solidity of the new institution. Without him, the confidence needed for monetary stabilization would have been far harder to achieve.

Question 3

Why is Perregaux important for financial stability under Napoleon?

Accepted Answer

Perregaux contributed to financial stability by keeping his bank solid throughout the Revolution, then taking part in the creation of the franc germinal (1803), a stable currency that replaced the assignats. What is often forgotten is that his caution in the face of speculation on assignats earned him the trust of major fortunes. Less a speculator than a shrewd manager, he embodied the rigor necessary for the economic reconstruction of imperial France.

Question 4

How did Perregaux navigate the Terror without being threatened?

Accepted Answer

Perregaux navigated the Terror (1793–1794) without being arrested thanks to his status as a subject of the principality of Neuchâtel, which was then under Prussian suzerainty. What is striking here is that he managed to remain discreet and useful to successive governments by financing the war effort, at a time when many foreign bankers were ruined or imprisoned. He preserved his bank by prudently converting his assets into gold and real property, steering clear of speculation on the assignats.

Question 5

What is the famous anecdote linking Perregaux and Jacques Laffitte?

Accepted Answer

A young man from Bayonne, Jacques Laffitte, walked into Perregaux's bank one day without a letter of introduction. Perregaux hired him as a clerk on the strength of his appearance and evident seriousness. The key point is that Laffitte went on to become his partner, then his successor at the head of the bank, and eventually Prime Minister under Louis-Philippe. This anecdote illustrates how Perregaux shaped a genuine French banking tradition, founded on rigor and integrity.

Question 6

What did a typical day look like for Perregaux as a banker and senator?

Accepted Answer

In the morning, Perregaux read the financial newspapers and received merchants coming to discount bills of exchange. In the afternoon, he held business meetings or sat on the governing board of the Banque de France. In the evening, he dined in the salons of the Chaussée-d'Antin to maintain his network. To picture this, one must imagine a man constantly moving between his private mansion, the bank, and the Palais du Luxembourg, where the Conservative Senate convened.

Question 7

What everyday objects were essential to Perregaux's work?

Accepted Answer

The key objects were the bill of exchange, the central instrument of international trade, and the ledger, a leather-bound register in which he recorded every transaction. He also used an iron safe to store gold and banknotes, and consulted financial newspapers to track exchange rates. What sets these objects apart is that they reflect an era when trust rested on the rigor of the written word and physical security.

Question 8

What do the words "assignat" and "escompte" mean for understanding Perregaux's era?

Accepted Answer

The assignat was the paper currency issued during the Revolution, backed by confiscated church property, but whose overissuance caused catastrophic inflation. Escompte (discounting) referred to the operation by which a banker bought back a bill of exchange before its due date, taking an interest charge. To understand this, one must recall that Perregaux refused to speculate on assignats, preferring prudent discounting — a choice that saved his bank.

Question 9

Where were the key locations of Perregaux's life in Paris?

Accepted Answer

His bank was located on the rue du Mont-Blanc (today the rue de la Chaussée-d'Antin), in the financial district. He sat on the board of the Banque de France, housed in the Hôtel de Toulouse on the rue de la Vrillière, and attended the Conservative Senate at the Palais du Luxembourg. These locations show how Perregaux moved at the very heart of the Empire's economic and political power.

Question 10

What primary sources attest to Perregaux's role at the Banque de France?

Accepted Answer

The Statutes of the Banque de France (13 February 1800) and the minutes of the founding shareholders' assembly (February 1800) name Perregaux among the elected regents. The Bulletin des lois of Year X (1802) records his appointment as senator. Finally, the Memoirs of Jacques Laffitte (c. 1844) report: “I owe everything to M. Perregaux.” These documents are held at the Archives nationales.

Jean-Frédéric Perregaux(1744 — 1808)

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