Ever paused to wonder about the lives behind Parisian street names? The Rue Martin Garat invites us to discover a man who shaped French finance.
This street resides in the 20th arrondissement of Paris. It begins at 8 Rue de la Py. It ends at 5 Rue Géo-Chavez. Rue Martin Garat is named for Martin Garat. He was the first director of the Bank of France. The street’s story is intertwined with his life.
Before 1812, this path was just a traverse of La Py. It was called Sentier de traverse de la Py. Later, it became Impasse de la Py. In 1905, it received its current name Rue Martin Garat. The street was extended in 1930.
Martin Garat lived from 1748 to 1830. He represents a generation that rose to power during the French Consulate and Empire. Born in Bayonne, Garat was the tenth of thirteen children. His father was a master carpenter.
Garat started working at fourteen. He joined the strongest business in Bayonne after eight years. He dissolved the partnership in 1782. He traveled to America for trade. He returned in 1783 and continued trading until 1785.
Garat moved to Paris. He aimed to establish a business in India. Instead, he joined the Trésorerie Nationale. He left it at the end of 1792. In 1785, he entered the Trésor Royal. This was the general fund for state revenue.
By 1789, Garat was a premier commis. He signed all treasury orders. He had a prominent role. He acquired church properties in 1791. He bought a country house in Le Chesnay. He also bought a house in Paris.
In July 1791, he became the general cashier. This was for the newly created Trésorerie Nationale. But the Revolution brought challenges. Garat clashed with the Girondin government. He resigned in August 1792.
During the Reign of Terror, Garat faced imprisonment. He was arrested in September 1793. He was freed after Robespierre’s fall in 1794. In 1794, he married Catherine-Charlotte Gebauer. She came from a family of musicians.
By late 1798, Garat returned to public life. He became the director of the Caisse de Comptes Courants. In 1800, he helped establish the Bank of France. He became its first director-general. His signature appeared on banknotes. These notes were nicknamed fafiots garatés.
Under Garat, the Bank of France supported the state. Napoleon closely monitored the bank’s activities. In 1806, Napoleon reformed the bank. Garat continued as director. In 1810, Napoleon made him a baron of the Empire.
Garat remained dedicated until his death in 1830. He lived in the Bank of France palace. He was known for his integrity. He is buried at Père Lachaise Cemetery.
Rue Martin Garat honors a man of finance. He helped shape modern France. It reminds us of his contributions. It shows us his lasting impact. As you walk this street, reflect on Martin Garat’s life. He rose from humble beginnings to financial leadership.