Indeed, Joseph had long planned to start a bank.
To straighten out a country's finances, a bank is an indispensable tool, especially after the Royal Bank's decline left France without even a symbolic "central bank," leaving the government's financial control capabilities virtually nil.
Furthermore, the Industrial Revolution was on the cusp of bursting forth. Massive financial support was needed during this period to ensure unimpeded industrial development.
Thus, for Joseph, establishing a bank was a necessary action; however, according to his plan, now was not the optimal time.
As is well known, banking relies heavily on the scale of capital. A bank with a capital of 1 million livres, no matter how well-managed, would have a hard time outperforming a competitor with a capital of 10 million livres.
Joseph's original plan was to enter the banking sector after mobilizing more resources at his disposal.
