22 Facts About Michel Goudchaux

Michel Goudchaux was a French banker and politician who was twice Minister of Finance during the French Second Republic.

Michel Goudchaux was injured on a barricade in the July Revolution of 1830.

Michel Goudchaux was in favor of free enterprise and competition.

Michel Goudchaux was reputed for the strength of his Republican principles.

Michel Goudchaux took emergency measures to resume the collection of taxes, which had been disrupted by the revolution, while promising to arrange for more equitable methods of taxation as soon as possible.

Michel Goudchaux created a discount counter for small businesses and abolished the stamp tax on periodicals.

Michel Goudchaux authorized early payment of arrears by the government.

Michel Goudchaux resigned on 5 March 1848 and could not be persuaded to return.

Michel Goudchaux ran unsuccessfully as Republican candidate for the Assembly in April 1848.

Michel Goudchaux ran again on 4 June 1848 in a by-election in the department of the Seine and was elected.

Michel Goudchaux made a major speech in which he proposed lower indirect taxes, free education to workers and limited subsidies to the National Workshops which had been created to provide temporary employment.

Cavaignac formed a ministry on 28 June 1848 in which Michel Goudchaux was made Minister of Finance.

Michel Goudchaux immediately proposed to strictly limit the salaries of ministers.

Michel Goudchaux proposed decrees on a loan for the Bank of France, repayment of savings bank deposits, treasury bills and other urgent matters.

Michel Goudchaux supported tax exemptions and loans to assist businesses, but was against government bail-outs of struggling businesses.

On 22 July 1848 Michel Goudchaux presented a statement of the financial situation to the Assembly in which he said there would be a deficit of 209 million for that year.

Michel Goudchaux continued to propose measures to manage finances and participated in constitutional debates.

Michel Goudchaux was in poor health, as he would be for the remainder of his life.

Michel Goudchaux continued to support the government until it resigned on 10 December 1848 after the election of Louis Napoleon as President of the Republic.

In May 1849 Michel Goudchaux was not reelected to the Assembly.

Michel Goudchaux did not accept the coup on 2 December 1851 that would lead to establishment of the Second French Empire.

Michel Goudchaux died in the eighth arrondissement of Paris on 25 December 1862, aged 65.