A tour through Holland : $b along the right and left banks of the Rhine, to the south of Germany, in the summer and autumn of 1806Carr, John, Sir
History
A tour through Holland : $b along the right and left banks of the Rhine, to the south of Germany, in the summer and autumn of 1806
Carr, John, Sir
Netherlands -- Description and travel; Rhine River Valley -- Description and travel
The strong apartments which formerly contained the vast treasures of the
bank, and the offices attached to that wealthy concern, are on the
ground-floor, where several clerks are employed to transact the business
of that celebrated establishment. From the wise measures adopted by the
king, who made, as I have before observed, the recognition of the
national debt one of the first measures of his government, the national
creditor has no apprehensions. Before the war, this institution, which
was a bank of deposit, was supposed to contain the greatest quantity of
bullion in the world, and popular credulity dwelt with ostentatious
fondness upon the extent of its accumulated treasures, which they
resembled to a Peruvian mine; its pile of precious metals was valued at
the enormous sum of forty millions. The regulations which governed
deposits made in this bank were as follow: the person depositing cash or
bullion received a credit in the books for the amount, and a receipt for
the same, which expired at the end of six months, was given, renewable
upon paying a small per centage for warehouse rent: if such receipt
expired before the money or bullion was redeemed, neither the one nor
the other could be afterwards removed, but for it an equivalent in bank
credit was given, which receipt could afterwards be converted into cash
in the market. Another regulation was, that not a florin of the cash or
bullion invested should ever be removed by way of loan. This compact
between the bank and the creditor was always considered inviolable. A
rumour was circulated, with equal celerity and anxiety, soon after the
arrival of the French in Holland, highly injurious to the responsibility
of the institution, and a deputation of merchants waited respectfully on
the directors of the bank, to solicit satisfaction as to its solvency;
to which an answer, couched in general terms, but favourable to its
responsibility, was given. Owing to the unshaken stability which it had
displayed, from 1672, when Louis the Fourteenth, at the head of a
victorious army, was expected every hour to have made his triumphal
entry into Amsterdam, to 1795, when the French fixed the destiny of the
country, this answer was received with perfect confidence and security
in the bank, and any doubt upon the subject was considered to be the
result of party malignity. Upon the French taking possession of
Amsterdam, a complete investigation of the business followed, and the
official report of the provisional representatives of the city
announced, that
“No deficiency whatever will exist in the said bank, and the debits
and credits will precisely balance, with this exception, that instead
of species, there have been received into the said bank, from time to
time, as securities for large sums advanced by it within the last
fifty years, a very considerable number of bonds, viz.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account