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Updated: May 31, 2025
His brother went to Mexico in his stead. In 1802 a dreadful scarcity afflicted France. M. Ouvrard took upon himself, in concert with Wanlerberghe, the task of importing foreign grain to prevent the troubles which might otherwise have been expected.
After six months had elapsed payment was offered, but on condition that the Government should retain half the profit of the commission! This Ouvrard and Wanlerberghe refused, upon which the Treasury thought it most economical to pay nothing, and the debt remained unsettled.
In payment of the grain the foreign houses who sent it drew upon Ouvrard and Wanlerberghe for 26,000,000 francs in Treasury bills, which, according to the agreement with the Government, were to be paid. But when the bills of the foreign houses became due there was no money in the Treasury, and payment was refused.
The Minister of the Treasury, dismayed, as well may be supposed, at such a state of things during the Emperor's absence, convoked a Council, at which Joseph Bonaparte presided, and to which Desprez and Wanlerberghe were summoned. Ouvrard being informed of this financial convulsion made all possible haste from Madrid, and on his arrival at Paris sought assistance from Amsterdam.
In the course of the month of February 1806 the Emperor issued two decrees, in which he declared Ouvrard, Wanlerberghe, and Michel, contractors for the service of 1804, and Desprez their agent, debtors to the amount of 87,000,000, which they had misapplied in private speculations, and in transactions with Spain "for their personal interests."
After six months had elapsed payment was offered, but on condition that the Government should retain half the profit of the commission! This Ouvrard and Wanlerberghe refused, upon which the Treasury thought it most economical to pay nothing, and the debt remained unsettled.
Ouvrard, Wanlerberghe, and Seguin were the persons whose capital and credit rendered them most capable of relieving the Treasury, and they agreed to advance for that purpose 102,000,000, in return for which they were allowed bonds of the Receivers-General to the amount of 150,000,000.
In the course of the month of February 1806 the Emperor issued two decrees, in which he declared Ouvrard, Wanlerberghe, and Michel, contractors for the service of 1804, and Desprez their agent, debtors to the amount of 87,000,000, which they had misapplied in private speculations, and in transactions with Spain "for their personal interests."
In the course of the month of February 1806 the Emperor issued two decrees, in which he declared Ouvrard, Wanlerberghe, and Michel, contractors for the service of 1804, and Desprez their agent, debtors to the amount of 87,000,000, which they had misapplied in private speculations, and in transactions with Spain "for their personal interests."
After six months had elapsed payment was offered, but on condition that the Government should retain half the profit of the commission! This Ouvrard and Wanlerberghe refused, upon which the Treasury thought it most economical to pay nothing, and the debt remained unsettled.
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