Alma record. (Alma, Mich.) 1878-1928, 1891-02-27
ANCIENT BANKING HOUSES.
when the Oldest Banks Of Europe Were
Established-Their History.


Europe is filled with business. and
particularly with financial establish
ments. which have weathered the
storms OF more than a century and
which promise to 20 on without acct
dent until their conductors and owners
are ready to liquidate.
The English aud French tradesmen
are 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
"NOll' Goldsmith drank whisky
punches-when he had any money.
Banks in Europe have always been
honOred in exact proportion TO the
duration of their existence. One Of
the longest-lived banks ia history was
also the first institution founded in
Europe. 1t was the Bank of Venice.
which was founded in III, 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 solidty.
The Bank of Genoa, founded in
14O7, 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, founded
in 1909. lasted until the French ruined
it when they invaded Holland in 1891.
because the directors had lent Holland
Il large sum of money.
The Bank of Hamburg is still alive
and hourishing. although it was found.
ed before the Pilgrims landed on Ply
mouth Rock. There are numerous
banks in Holland, Germany and Swe-
den which date from the seventeenth
century.
The vigorous "old lady" of Thread.
needle street, the Bank of England,
has been going since the days of Will
liam and Mary O694), and owes its
origin to the difficulty the government
experienced in raising funds to conduct
its war with France. The Banque dc
France, which had the honor of lend
ing money to the "old lady" during
the panic the other day, dates from
l7l4, and its present charter extends to
1897. Its governor is appointed by
the general government.
After the Bank of England, the old
est public banks in Great Britain are
the Bank of Scotland $500 and the
Bank of Newcastle-on-Tyne U755).
The ROYAL Bank OF Prussia has
tiourished for l35 years.
Private banking houses of world
wide celebrity are comparatively
young when placed side by side with
the state institutions. The Roths.
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, 600
for safe keeping with Mayer Auselm
Rothschild in Frankfort. This house,
which spread To- Frankfort, Vienna.
London. Naples and Paris. and whose
heads became barons, was compare
lively obscure before the end OF the
last century. The Earrings went to
England from Bremen in the first part
of the eighteenth century. Many of
the old private banks. especially in
England, have been merged in joint
stock companies.
Some of the oldest English banks
have unclaimed deposits belonging 10
dead aud gone people amounting to
hundreds OF thousands of pounds. One
institution in London has goo. 900 of
these deposits on its books. and some
say this must finally be declared clear
profit.
Many shipping firms in England and
have had au unbroken exist
ence of two centuries. and in France
some colonial and foreign merchants
boast of much greater aye for their
Houses founded in
$3.50. 1850 and 100 abound in Paris.
Bordeaux. Marseilles, and in Italy aud |
Spain. A common business rule in
Europe is that if house can outlast |
ten years there is no reason why it |
should not endure ten centuries. But |
operations and people |
are more conservative aud cautious in |