Etienne de Silhouette was a French statesman and finance minister during the 18th century. He is most remembered for his introduction of the tax on luxury items, known as the ‘Silhouette tax’. He is also credited with introducing a system of public debt management and reforming the French currency system, which were both largely successful.
De Silhouette was born in 1709 in Toulon, France. His father was a merchant and his mother was a seamstress.
After studying law at the University of Toulon, he went on to become an official in the Ministry of Finance. In 1759, he was appointed as finance minister by King Louis XV.
As finance minister, de Silhouette introduced several reforms to the French economy. He imposed a tax on luxury items such as clocks, jewelry, and paintings which became known as the ‘Silhouette tax’. He also introduced a system of public debt management whereby government funds were used to pay off existing debt rather than issuing new bonds.
In addition to these reforms, de Silhouette also worked to reform the French currency system. He replaced paper money with metal coins which greatly stabilized the economy and made it easier for people to manage their finances.
After leaving office in 1767, de Silhouette returned to his home in Toulon where he died in 1767. His legacy remains today with his Silhouette tax still being used by some countries around the world.
Conclusion:
Etienne de Silhouette belonged to France and served as its finance minister from 1759-1767 during the 18th century. He is most remembered for introducing a tax on luxury items which became known as the ‘Silhouette tax’ as well as reforming the French currency system and introducing a system of public debt management.
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