The acquisition of the tax farm for tobacco in 1714 marked a significant expansion in the professional activities of Joseph Pâris Duverney. Born in Moirans in 1684, he rose from a brief service in the Gardes Françaises to become a powerful French financier, eventually wielding substantial influence over government provisions and the management of public debt throughout the eighteenth century.
Early Career and Provisions
The third of four brothers, Duverney arrived in Paris at age seventeen. By 1710, he held the title of Munitioner-General. Alongside his brothers, he invested in the ferme générale in 1718 and participated in developing a plantation project in Louisiana.
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The brothers criticized the economic policies of John Law, resulting in their exile to Dauphiné in June 1720. Following the collapse of the Mississippi Bubble, Duverney returned to lead the management of bondholder payments, a process known as l'opération du visa. During the ministry of the Duke of Bourbon, he served as principal secretary and proposed the 'cinquantième' tax. This initiative, alongside other fiscal reforms, triggered significant backlash from the nobility and the Parlement of Paris, leading to an assassination attempt and his subsequent 18-month imprisonment in the Bastille beginning in 1726.
Military Administration and Intellectual Life
During the War of the Polish Succession, Duverney resumed his role in military logistics, serving as Administrator-General of Provisions from 1736 to 1758. His career was marked by intense debate, notably regarding his monetary policies, which he addressed in a two-volume work published at The Hague in 1740. He also maintained a lengthy correspondence with Voltaire after retiring to his estates in Champagne.
Legacy and Final Years
Duverney founded the École militaire, serving as its first Intendant, and was buried in its chapel upon his death in 1770 at Château-Thierry. His later years involved financing Pierre Beaumarchais, an association that eventually led to legal disputes over his estate. He left his fortune to his great-grandnephew, Alexandre de Falcoz, Comte de La Blâche, following the death of his only daughter, Louise Michelle, in 1752.
Fast facts
- Born: 1684, Moirans
- Died: 1770, Château-Thierry
- Primary occupations: Entrepreneur, financier
- Military service: Gardes Françaises
- Positions held: Munitioner-General, Administrator-General of Provisions
- Notable project: École militaire
- Imprisonment: Bastille, 1726–1728
Questions readers ask
What role did Duverney play in the aftermath of the Mississippi Bubble?
He directed l'opération du visa, which involved the systematic management of payments to bondholders following the collapse of the system created by John Law.
What was the nature of his relationship with Pierre Beaumarchais?
Starting in 1760, Duverney protected and financed Beaumarchais, introducing him to the business world in exchange for commercial missions and favors at Court.
Achievements
- Holdings: Château de Plaisance
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