Bank Of Hamburg
The Hamburger Bank was a public credit institution founded in 1619 by the Free City of Hamburg. It operated independently until 31 December 1875, when it became part of the newly created Reichsbank. History The Hamburg City Council made the decision to create the bank in February 1619, following lengthy negotiations with its civic stakeholders. Like its model, the Amsterdamsche Wisselbank which had been founded in 1609, it was intended to improve monetary stability in uncertain times and to simplify trade between merchants. The numerous English merchant adventurers, Portuguese Sephardi Jews and Dutch religious refugees living in Hamburg at the time brought their capital and knowledge to the bank, thus contributing to its initial success. The bank was administered free of charge by two senators, two City elders (''Oberalten''), two "treasury citizens" (''Kammereibürger'') and five "bank citizens" (''Bancobürger''), namely citizens who had an account at the bank. The bank's prem ...
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