Nicolas Desmarets

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Nicolas Desmarets, Marquess of De Maillebois (born 10 September 1648 in Paris, 4 May 1721 in Paris) was a French politician and general financial controller from 20 February 1708 to 15 September 1715. Desmarets was a nephew of Jean-Baptiste Colbert and he quickly made a career in state finance. After Colbert's death in 1683 he was expelled from the country. Upon his return to Paris in 1686, Desmarets published a series of memoranda about the unfavorable financial situation of the country. Desmarets was in 1703 directeur de finances, and in 1708 replaced Chamillart as general finance controller. Desmarets has managed to convince state creditors to be patient, providing less interest and devaluing metal money, creating a royal lottery, and in 1710 to provide state revenue of 10%. However, the war for Spanish succession (1702-1714) was too heavy for the state. Desmarets advised in 1615 that Louis XIV himself declared bankruptcy of the state, the king did not obey the advice but dismissed the minister.

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