He borrowed large sums from bankers, curials, princes and Jews.
During the same period the assumption of the Venetian and Roman debts, losses on the issue of loans and the accumulation of annual deficits, had caused public indebtedness to rise from 92,000,000 to 328,000,000, no less than f 100,000,000 of the latter sum having been sacrificed in premiums and commissions to bankers and underwriters of loans.
A third son, James Gore King (1791-1853), was an assistant adjutant-general in the war of 1812, was a banker in Liverpool and afterwards in New York, and was president of the New York & Erie railroad until 1837, when by his visit to London he secured the loan to American bankers of £i,000,000 from the governors of the Bank of England.
Many Copenhagen Jews achieved distinction as manufacturers, merchants and bankers, and among famous Jewish men of letters may be specially named Georg Brandes.
Turgot's measures succeeded in considerably reducing the deficit, and raised the national credit to such an extent that in 1776, just before his fall, he was able to negotiate a loan with some Dutch bankers at 4%; but the deficit was still so large as to prevent him from attempting at once to realize his favourite scheme of substituting for indirect taxation a single tax on land.