Francois was sent to study in Toulouse but was recalled to Bayonne by his family due to certain amorous adventures and was sent by his father to Spain to practice with one of his business correspondents, named Galabert.

[1] Cabarrus took no part in the maneuvers through which Charles IV was obliged to abdicate and make way for Joseph Bonaparte (as King Jose I of Spain), brother of Napoleon Bonaparte, but his French birth and intimate knowledge of Spanish affairs recommended him to the emperor as the fittest person for the difficult post of minister of finance, which he held at his death.

Due to the support he had given Joseph Bonaparte during his short reign in Spain, he was considered an afrancesado and, although he had already died, when Ferdinand VII recovered the throne, his family was persecuted and his fortune and holdings were confiscated.

With all of the political turmoil of the following period, the heritage he left his heirs was restored and confiscated several times depending on who would be governing in Madrid.

His son, heir and second Conde de Cabarrus, Domingo Cabarrús Galabert, held several positions in government and was governor of the provinces of Palencia and Valladolid among other official posts.

His daughter, Teresa Cabarrus Galabert, Thérèse Tallien, also Madamme Tallien (afterwards Countess of Caraman and Princess of Chimay), played a part in the later stages of the French Revolution,[1] being named as Notre Dame de Buon Secours and Notre Dame de Thermidor by her contemporaries.