Raphaël-Georges Lévy

Raphaël-Georges Lévy
Raphaël-Georges Lévy
Born	Template:Birth date; Paris, France
Died	December 8, 1933 (aged 80); Paris, France
Occupation(s)	Economist, banker, politician
Years active	1870–1930
Known for	Advocacy for liberal economic principles, free trade, autonomy of central banking; Senator for Seine (1920–1927)

Raphaël-Georges Lévy (24 February 1853 – 8 December 1933) was a distinguished French economist, banker, and political figure. For many years, he lectured at the École libre des sciences politiques and championed liberal economic principles, notably advocating for free trade and the autonomy of central banking. He held the position of Senator for the Seine department from 1920 until 1927.

Early years (1853–70)

Born in Paris on 24 February 1853, Raphaël-Georges Lévy was the son of Benjamin Lévy, an inspector-general in public education, and Eugénie Bamberger, who belonged to the influential banking Bischoffsheim family. His uncle, Henri Bamberger, was a co-founder of the Banque de Paris et des Pays-Bas. Additionally, Lévy was connected by family to Marcel Proust; around 1907 or 1908, Proust sought Lévy’s counsel on investments, resulting in several correspondences between them.

Growing up in a scholarly milieu, Lévy attended the prestigious Lycée Louis-le-Grand, where he excelled in mathematics and rhetoric, earning recognition from Napoleon III. Following the Franco-Prussian War in 1870, he completed his law studies.

Businessman and academic (1870–1914)

Lévy began his career at Banque de Paris et des Pays-Bas, overseeing foreign affairs and showcasing notable commercial expertise. His business ventures encompassed interests in South African gold mining operations, the Crédit Mobilier, the Franco-Chinese economic association, and projects like the Channel Tunnel. Shifting focus from finance to education, he taught at institutions such as the Association des cours commerciaux and Ecole supérieure d'enseignement financier before dedicating three decades to professorship at the École libre des sciences politiques, where he became a prominent academic figure.

In 1900, he ventured into local governance as a municipal council member in Deauville.

On 4 January 1882, Lévy married Marguerite Augustine Halphen; their union produced a daughter named Suzanne Guillemette Ernesta Lévy. He also led scholarly organizations including the Société de statistique and gained membership in the Académie des Sciences Morales et Politiques in 1913.

World War I (1914–18)

Throughout World War I (1914–18), Lévy remained based in Paris and transformed his private residence into a military hospital, personally financing medical care for soldiers from 1914 through 1919. He received support from Antoine-Louis Cornette, founder of the Scouts de France. On 9 February 1917, it was announced by Le Figaro that Lévy had been elected president of the Societe d'Économie politique, serving alongside its inaugural president Yves Guyot.

Postwar career (1919–33)

On 11 January 1920, Lévy secured election as Senator representing Seine. During his tenure, he contributed to the Finance Committee and acted as rapporteur for budgets concerning liberated territories over five years. In 1923, he promoted extending military service to two years. A steadfast advocate for liberal economic doctrines, he opposed restrictions on capital exports, excessive taxation on securities that endangered personal savings, and obstacles affecting wheat trade. His authored reports covered topics such as silver coin reminting, Moroccan loans, and borrowing initiatives by Parisian and Seine authorities. Due to deteriorating health conditions, he chose not to seek reelection in 1927 and concluded his senatorial duties on 8 January.

Lévy remained active within the Académie des sciences morales et politiques until 1930. In his later life, confined to his Parisian townhouse that served as a cultural hub attracting figures like the King of Belgium and the President of the Chinese Republic, he passed away on 8 December 1933 in Paris. Among his distinctions were appointments as officer of the Order of the Crown (Romania), grand officer of both the Order of the Crown (Belgium) and the Order of the Crown of Italy, as well as commander of the Order of Christ (Portugal).

Publications

Lévy produced a wide array of economic literature, beginning with a poetry collection influenced by Alfred de Musset. His articles appeared in various periodicals such as Revue des deux Mondes, Revue d'économie politique, Journal des économistes, and L'Economiste français. In 1896, he introduced the concept of an international issuing bank based in Berne designed to settle debts through gold. His 1911 book, Banques d'émission et trésors publics, advocated that for exchange rates to remain stable, central banks must operate independently from government control, emphasizing that reduced state intervention strengthens national creditworthiness and safeguards wealth. In the 1920 publication La juste paix ou le traité de Versailles, he defended the Treaty of Versailles against criticisms made by economist John Maynard Keynes.

Additional significant works include:

De Bonorum possessione contra tabulas (1877)
Les conversions de rentes (1886)
Le Péril financier (1888)
Mélanges financiers (1894)
Du relèvement du marché financier français (1900)
Des tendances nouvelles de la législation fiscale en Europe depuis 50 ans (1901)
De la Méthode à suivre pour passer du cours forcé aux paiements en espèces (1911)
L'Économie politique aux États-Unis (1913)
Effets économiques de la mobilisation austro-hongroise (1914)
La guerre: Les origines de la guerre... L'industrie moderne et la guerre (1915)
Qu'est-ce qu'une banque (1918)
La Vie chère, causes, effets, remèdes (1919)
Initiation financière (1921; revised edition 1927)

Sources

External links

Official records including birth and death certificates and Legion of Honour documentation.