A native of Reims, he was appointed Intendant of Finances on 4 May 1661. Colbert took over as Controller-General of Finances, a newly created position, in the aftermath of the arrest of Nicolas Fouquet for embezzlement, an event that led to the abolishment of the office of Superintendent of Finances. He worked to develop the domestic economy by raising tariffs and encouraging major public works projects, as well as to ensure that the French East India Company had access to foreign markets, so that they could always obtain coffee, cotton, dyewoods, fur, pepper, and sugar. He acted to create a favorable balance of trade and increase colonial holdings. As there was slavery in the colonies, in 1682, Colbert commissioned the beginning of a project that would become the Code Noir in 1685, two years after his death. In addition, he founded France's merchant navy (marine marchande), becoming Secretary of State of the Navy in 1669.
A native of Reims, he was appointed Intendant of Finances on 4 May 1661. Colbert took over as Controller-General of Finances, a newly created position, in the aftermath of the arrest of Nicolas Fouquet for embezzlement, an event that led to the abolishment of the office of Superintendent of Finances. He worked to develop the domestic economy by raising tariffs and encouraging major public works projects, as well as to ensure that the French East India Company had access to foreign markets, so that they could always obtain coffee, cotton, dyewoods, fur, pepper, and sugar. He acted to create a favorable balance of trade and increase colonial holdings. As there was slavery in the colonies in 1682, Colbert commissioned the beginning of a project that would become the Code Noir in 1685, two years after his death. In addition, he founded F,rance's merchant navy (marine marchande), becoming Secretary of State of the Navy in 1669.