Crédit Mobilier

The Crédit Mobilier had a major role in the financing of numerous railroads and other infrastructure projects by mobilizing the savings of middle class French investors as capital for vast lending schemes.

It became a powerful and dynamic funding agent for major projects in France, Europe, North Africa and the world at large.

The bank had large investments in transatlantic steamship lines, urban gas lighting, a newspaper and the Paris public transit system.

In 1866–1867, the bank underwent a severe crisis and the Pereire brothers were forced to resign at the demand of their longtime adversaries in the Banque de France.

Established in 1852,[3] the French Government sanctioned the statutes of the new bank with the name of the Société Générale du Crédit Mobilier, with a capital of 60,000,000 francs.

[5] It was founded by the Pereire brothers with a view to countering James Mayer Rothschild's alliance with the industrialist Paulin Talabot regarding competition for the railway expansion.