Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-06-14
From the Commercial Herald.
EUROPEAN BANKS.


sitv of Banks to great commercial COM
munites, that they had their origin at the
dawn of civilization, and upon the revival
in Europe. The Bank of Venice,
t.c earliest institution Of the kind, WIS es.
tab:ishcd in the time of the CrusadcS, and,
no doubt, in some degree facilitated the
equipment and transportation of the i'm.
mense hosts who rushed upon the plains of
Palestine for redemption of its consecrated
spots from nfdcl violation. The Crusades
broke the torpid sumbers which had kept
mankind in a state of inac:ion from the fall
Of tie Roman Empire, and agita:ed the
whole mass Of society to It's very centre.
The crv--s 1t is the voice Of God p win
which the mutitudes broke away from the
harangucs of Peter the Hermit, spread, as
upon the wings Of the wind, over the con.
tinent. Ii swept over the fields, and The
pcasantry obeycd lis call as an cdict from
Heaven 1T wound through the halls and
corridors of the old feudal castles, and mcn-
archs and mobiles poured for'h 10 answer
the mighty voice that swcllcd upon them
from the untitled multitude" Lead us on
to the rescue ofthc Holy Sepulchre - The
monk awoke from his dreamy slumber
over the manuscripts of antiquity, and,
dofiing the hood and cowl, assumed the
casque and beaver. inhamed with burning
zeal for vengeance upon the impious Sara
cen.
Thus a wide spread agitation easued,
and in the conflicts and the communication
which followed between the different ma
tons of Europe, more liberal and rational
views ofthings were produced, and avenues
of intercourse were opened between the
chief marts Of ChriStendom, alorg which
Trade soon began TO circulate. and the
morn ofcivizalion once more broke upon
the world, after the long and drcary night
which had begun upon the destruction of
the Roman Empire.
The demand for money, which was pro.
duced by the resuscitation ofirade, gave rise
10 the establishment the Bank of Venice.
The Fenetians were the bankers Of Europe
during the 18th, 18th and 14:h centuries.
The monopoly which they enjoyed Of the
whole Indian trade, down to the discovery
of the passage TO India by the Cape Of Good
Hope, made them the mosi opulent people
of Europe.-On sand. bank in the Adria'ic
Gulf they built up the most magnifcen! city
ofthc void, and Venice for centuries was
the dominant city ofChristendom, influence
ing by her wealth the interest Of ev'.y
kingdom of Europe. The Bank Of Venice
was board for deposit, credit, and interest.
1t had a capital of 100000 ducats, for
which the Republic was security. II was
continued down 10 the dissolution Of the
Republic in 1893. The Bank Of Genoa
was established in 1l07, and was at one
time Bank Of much consequence.
The next great banking nation OF Eu-
rope was Holland, which succeeded Ven
ice, in commercial rc.emincncc, and cxcr-
ciscd q similar influence by her commercial
importance. AS carl as 1000, we find the
Bank Of Amsterdam established. 1t owed
its origin 10 the clipped and worn currency,
which caused fluctuations in the value Of
coin, produced much embarrassment, and
led to the creation Of this Bank, which was
simply Bank Of deposit and transfer. It's
successful management made it rich and
prosperous institution, and it became the
depository of gold and silver IN
Europe. The Bank of Hamburg, founded
in 1919, was also Bank Of deposit AID
ransfer.
The nsular situation and naval warfare
Of England, early made her commercial
and maratime nation. After The eXpu-
sion of the Stuarts, and the extension ofpol-
teal freedom which ensucd thereon, she
rapidly rose in commercial importance.-
Her trade extended itself to every known
part of the globe, and her population in.
creased with such rapidity that it swelled
over the ancient limits Of the kingdom,
and spread itself out in the search of new
sites of habitation. America and the In
dies became colonized by the British race,
and opened most opulent trade with the
AS in Venice, Immediately on the com
Of active trade, we find banking
institut ons in operation in England. The
chief institution, the Bank of England, was
established in 1904, in the reign of William
and Mary. lis originalcapitaI was fl,20O,
900 sterling, which was lodged in the Ex-
chequer at 8 per cent. interest. In l7sl its
charter was extended to 1912. In 1900
it was renewed, and extended to 1885, on
ofadvancing to the public service
without interest, for six years
In 1882. the charter was again renewed
for 2l years. In 1877 this Bank suspen-
ded specie payments, and did not resume
until 1923, an interval Of 26 years. It's
capital in ITO was f5,359,996: 1892,
1871, f11,642,OOO; 1882,
100000. Its circulation in 1857 Was