No. du lot: 985
AMSTERDAM. Obligatie Fl.1000. black. No 1144. Folds, a bit of foxing and small edge-tear at the top border. Amsterdamsche Wisselbank (Amsterdam Exchange Bank), set up in 1609, had the aim of replacing all cashiers and exchange brokers by 1 institution. In return for the deposit of gold and silver,deposit accounts were created by means of which bank tranfers within the whole of Europe could be carried out. In addition, all bills of exchange above 300 guilders exchanged or drawn on, or made payable at, Amsterdam had to be paid at the Exchange Bank. The success of the bank could be explained by the city guarantee that deposits would not be confiscated, and also the low cost of the offered services. Although officially forbidden, it derived its main profits from precious metals trading. In 1794 it turned out that the bank had granted illegal credit to the East Indian Company. This was the beginning of the fall of the bank. The 4% bond from 1796 formed part of a financial restructuring of the bank. It was to be paid back in 20 years, and was guaranteed by the city Amsterdam. However, this was of no value since in 1820 the bank was finally liquidated. The closure of the bank reflected too the visible evidence that Amsterdam was no longer the financial centre of the world. What remains is a great piece of history.
Thèmes: BANK & FINANCE, BEFORE 1800
Date: 1 November 1796
Prix de départ: € 1000