Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1891-04-25
RIO Be Continued
ANCIENT BANKING HOUSES
When the Oldest Banks OF Europe Were
Esta History.

Europe is filed with business. anr
particularly with financial establish
ments, which have weathered IL.
which promise to go on without acci.
dent until their conductors anil wners
are ready to liquidate.
The English and French tradesmen
arc especially fond of putting upon
their signs dates which show that sew.
eral generations have carried on the
business at the old stand.
Even the modest restaurant-keeper
in London delights to tell you that YOU
are dining in the same room where
DIR; Johnson used TO discuss and where
panches-whcu nc had any money.
Banks in Europe have always beer
houored in exact proportion TO the
duration of their existence. One o
the longest-lived banks in history wa:
also the first institution founded in
Europe. 1t was the Bank of Venice.
which was founded in I'LL. originally
organized TO support the costly wars
which Venice was constantly carrying
on.
For long centuries. until 1907, when
the Venetian Republic was overthrown,
this bank remained the symbol OF
financial integrity and solidity.
The Bank of Genoa. founded In
l407, lasted until the first year of the
present century. The Bank of BARGE
Iona, in Spain. is still in operation
after 400 years of business. Few peo-
pie know that it was in this bank that
the system of negotiation of bills OF
exchange originated.
Amsterdam's principal bank foundaS
In 1909, lasted until the French ruined
it when they Invaded Holland in 1874.
because the directors had lent Holland
large sum OF money.
The Bank Of Hamburg is still alive
aud flourishiug. although it was fount
ed before tho Pilgrims landed on TlN
mouth Rock. There are numer~,, ;,
banks in Holland. Germany aud SSS.
den which date from the sevcnteootS
century.
The vigorous ''old lady" of In. cad.
needle street. the Bank of England,
has been going since the lays of Will
liam aud Mary Q694t. and owes its
origin to the difficulty the government
experienced in raising funds to conduct
its war with France. Tle Banque dc
France. which had the honor of lend
ing money to the "oh lady" during
the panic the other day, dates from
l7l4, aud its present chaster extends to
1897. Its governor is appointed by
the general government.
After the Bank of En- gland. the old
est public banks in Great Britain arc
the Bank Of Scotland IG95) and the
Bank of Newcastle-on-Tyne (l755).
The ROYAL Bank of Prussia has
fiourished for 135 years.
Private banking houses of world
wide celebrity are comparatively
young when placed side by side with
childs may be said practically. to date
from 1906. when the Elector William,
after the invasion Of his states by the
French. deposited about 5000. O0O
for safe keeping with Mayer Anselnl
Rothschild in Frapkfort. This house.
which spread to Frankfort, Vienna.
London. Naples and Paris. and whose
heads became barons. was compara-
lively obscure before the end of the
last century. The Barings went to
England from Bremen in the first par,
of the eighteenth century. Many OF
the old private banks. especially in
England. have been merged in join,
stock companies.
Some Of the oldest English banks
have unclaimed depo ats belonging 10
dead aud gone people amounting to
hundreds OF thousants uf pounds. One
institution in London has f700. 900 oi
these deposits on its books. aud some
say this must finally be declared clear
profit.
Many shipping firms in England and
Holland have h@l an unbroken exist
ence Of two centuries. aud in France
some colonml and foreign merchants
boast Of much greater age for their
establishments. Is,uses founded In
1880 1880 and 100 abound la Paris
Bordeaux. Mafseilles. and in Italy and
spain. A common business rule in
Europe is that II house eau outlast
ten years there Is no reason why 1t
should not endure ten centuries But
governmental operations and pcoglv
arc more conservative aud cautious in
Europe than in America.