Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-12-28
THE nANK OF AMSTERDAM.
Interesting sketch OF the Famous
Dntch MOneY Centre.

Far back I'm the middle ages, says Profess
sor rhorold Rogers, In " The story of the
Nations Venice h9d established bauS
which should receive the coins Of all nations
and give warrants 10 those persons who de-
posted such coius. which warrants should
circulate from hand 70 hand. Just ~ bank
notes do now. Ihcee centuries after the
Bank Il Venice wa- founded a similar insti-
futon was established 10 Genoa on a some
what similar bass. In iC09. the wear of
the truce, the Bank OF Amsterdam was
founded, and before tie end of The
century was known 10 have metallic
deposits with IL T. the amount OF
$50, ,O00, ,0O0-a treasure more prOhigiOus
tuan ANY European iinarcer at that
time thought could be possibly accumu-
lsted. The note, Issued hy the hank were
suDpesed to De. and in iheOrv were, exactly
cqusi in amount 10 the specie or meialiic
money deposited IA the siTong.r00m OF the
bank. Btft the AOtes 0t The bank slways
bore premium, due 10 The convenience and
the absolutely guarded security which the
holder Of the note possessed. VIcn the bauh
CHARGED small sum on every account which
was opened with it, a small sun Tor neg0-
tating bills aud transferring baisncos, beside
a profit which they derived from their own
subscribed capital aud their customers
money at call.
The bank was under The Management Of
the Amsterdam corporation, the chiefs OF
which examined the treasure annually, and
made oath that ii was OF the iull amount at
which the managers OF the bank affirmed IL
10 be. 10 was seen that the well-being OF
this great commercial centre was so much
the Interest OF The Amsterdam municipality
that they could be more safely trusted with
the control OF the Institution than any state
OH eial could be-. When, netriy century NJ
lcrWard. the project Of starting great CEN
tral bnk IN Eugland was entertained. u was
thought for long time that the system
under which the Bank Of Amsterdam was
mansgcd should be tue model Of q bank 10 be
established IN London. In the end, and tor
tunatcy so, other cOunsels prevailed, f1r IN
the seventeenth century London had not
been so completely educllcd in the prnci.
pics Of commercial honor as 10 make The
Amsterdam experiment 4 safe or convenient
mode for English practice. l. Is remarkable
that not few OF the first Directors of the
Bank OF England were Flemish settlers IN
London, VINO. driven out Tor their religion,
brought over with them The intelligence, s1-
gacity, and integrity Of NeiheTi;nd finance.
The reputation Of the Bans OF Amsterdam
received remarkable confirmation IN 1872.
In this year Louis XIV, haying secured by
heavy bribes the cOmplicity and assistance OF
Charles I. Of England, declared sudden war
on the Dutch. II was, perhaps, The most
infamous war ever Waged. the most unprO-
vOked. and the most unexpected. The King
OF France was at this time at the height OF
his power. The King OF England had been
In wLlt was supposed 10 be iitm alliance
with Holland, whose stakeholder. aiter8arG
William III. Of England. was his neohcT.
The administration OF Holland was IN The
hands of the brothers Dewitt, who were
supposed 20 have been wilfuly negligent Of
affairs when the war broke ont. The Dulcn
were pauc-stTlcken at the Calamity which
came on them, and the political enemies
OF the DeWitls goade1 the popuace on into
numbering the two states en-a crime TO
which u is 10 be feared William was 'privy,
and by which he certainty prOtlied. The
Dutch saved themselves iIOm permanent ruin
by srli-inhicted calamity. They cut the dykes,
laid the country under water, and baiied
the invader. They punished Charles. or
rather his people. for the latter's pefiidy.
Now, in that crisis there was a run on the
Bank Of Amsterdam, but the city magistrates
took the alarmed depositOrs into the treasury
OF the bank aud showed them lts store un.
touched. Among the pieces OF money which
lay there were masses of coin which had
been scorehed aud bali melted Ia the great
fire which many years before had occurred in
the Stadthouse. The pauc was ailayed, the
merchants were satisfied. and The reputation
OF the bank became higher and higher.