Colbert, Jean-Baptiste (1619-1683)

French politician, chief minister to Louis XIV, and controller-general (finance minister) from 1665. He reformed the Treasury, promoted French industry and commerce by protectionist measures, and tried to make France a naval power equal to England or the Netherlands, while favouring a peaceful foreign policy.

Colbert, born in Reims, entered the service of Cardinal Mazarin and succeeded him as chief minister to Louis XIV. In 1661 he set to work to reform the Treasury. The national debt was largely repaid, and the system of tax collection was drastically reformed. Industry was brought under state control, shipbuilding was encouraged by bounties, companies were established to trade with India and America, and colonies were founded in Louisiana, Guiana, and Madagascar. In his later years Colbert was supplanted in Louis's favour by the war minister Louvois (1641-1691), who supported a policy of conquests.