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Barings Bank
Barings Bank was a British merchant bank based in London, and one of England's List of oldest banks in continuous operation, oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative. It was founded in 1762 by Sir Francis Baring, 1st Baronet, Francis Baring, a British-born member of the German-British Baring family of merchants and bankers. The bank collapsed in 1995 after suffering losses of £827 million (£ billion in ) resulting from fraudulent investments, primarily in futures contracts, conducted by its employee Nick Leeson, working at its office in Singapore. History 1762–1889 Barings Bank was founded in 1762 as the John and Francis Baring Company by Sir Francis Baring, 1st Baronet, with his older brother John Baring (1730–1816), John Baring as a mostly silent partner. They were sons of Johann Baring, John (né Johann) Baring, wool trader of Exeter, born in Bremen, Germany. The company started business in offices off Cheapsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated between the Baltic and North seas to the north, and the Alps to the south; it covers an area of , with a population of almost 84 million within its 16 constituent states. Germany borders Denmark to the north, Poland and the Czech Republic to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The nation's capital and most populous city is Berlin and its financial centre is Frankfurt; the largest urban area is the Ruhr. Various Germanic tribes have inhabited the northern parts of modern Germany since classical antiquity. A region named Germania was documented before AD 100. In 962, the Kingdom of Germany formed the bulk of the Holy Roman Empire. During the 16th ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smithsonian (magazine)
''Smithsonian'' is the official journal published by the Smithsonian Institution in Washington, D.C. The first issue was published in 1970. History The history of ''Smithsonian'' began when Edward K. Thompson, the retired editor of ''Life (magazine), Life'' magazine, was asked by the then-Secretary of the Smithsonian, S. Dillon Ripley, to produce a magazine "about things in which the Smithsonian [Institution] is interested, might be interested or ought to be interested." Thompson would later recall that his philosophy for the new magazine was that it "would stir curiosity in already receptive minds. It would deal with history as it is relevant to the present. It would present art, since true art is never dated, in the richest possible reproduction. It would peer into the future via coverage of social progress and of science and technology. Technical matters would be digested and made intelligible by skilled writers who would stimulate readers to reach upward while not turning the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louisiana Purchase
The Louisiana Purchase (french: Vente de la Louisiane, translation=Sale of Louisiana) was the acquisition of the territory of Louisiana by the United States from the French First Republic in 1803. In return for fifteen million dollars, or approximately eighteen dollars per square mile, the United States nominally acquired a total of in Middle America. However, France only controlled a small fraction of this area, most of which was inhabited by Native Americans; effectively, for the majority of the area, the United States bought the "preemptive" right to obtain "Indian" lands by treaty or by conquest, to the exclusion of other colonial powers. The Kingdom of France had controlled the Louisiana territory from 1699 until it was ceded to Spain in 1762. In 1800, Napoleon, the First Consul of the French Republic, regained ownership of Louisiana as part of a broader effort to re-establish a French colonial empire in North America. However, France's failure to suppress a revol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sir Thomas Baring, 2nd Baronet
Sir Thomas Baring, 2nd Baronet (12 June 1772 – 3 April 1848), was a British banker and Member of Parliament. Early life Baring was born on 12 June 1772. A member of the Baring family, he was the eldest son of Harriet (née Herring) Baring and Sir Francis Baring, 1st Baronet, founder of Barings Bank. His grandfather, John (Johann) Baring, had emigrated from Germany and established the family in England. His maternal grandfather was merchant William Herring of Croydon and among his mother's family was her cousin, Thomas Herring, Archbishop of Canterbury. Career From 1790 and 1801, he worked with the Honourable East India Company. Thomas became a partner in Baring Brothers & Co. in 1804, remaining until 1809. Upon his father's death in, 1810, he succeeded Sir Francis Baring, 1st Baronet. After his early career with the bank, Sir Thomas was elected a British Member of Parliament for the constituencies of High Wycombe and Hampshire until 1831. From 1832 to 1833 he was the chai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maine
Maine () is a state in the New England and Northeastern regions of the United States. It borders New Hampshire to the west, the Gulf of Maine to the southeast, and the Canadian provinces of New Brunswick and Quebec to the northeast and northwest, respectively. The largest state by total area in New England, Maine is the 12th-smallest by area, the 9th-least populous, the 13th-least densely populated, and the most rural of the 50 U.S. states. It is also the northeasternmost among the contiguous United States, the northernmost state east of the Great Lakes, the only state whose name consists of a single syllable, and the only state to border exactly one other U.S. state. Approximately half the area of Maine lies on each side of the 45th parallel north in latitude. The most populous city in Maine is Portland, while its capital is Augusta. Maine has traditionally been known for its jagged, rocky Atlantic Ocean and bayshore coastlines; smoothly contoured mountains; heavily f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Hope (1704-1779)
Thomas Hope (1704, Rotterdam – 26 December 1779, Amsterdam) was a successful and gifted Dutch banker in the 18th century. He is considered as the main author of a proposal to the States-General of the Netherlands, States-General and the Admiralty to improve Holland's diminishing trade position through abolition of the export tax and lowering import tax. In 1752 he was the main investor in the VOC. As a Quaker - rejecting war and violence - and dissenter he was not allowed to official governmental jobs, but in 1756 at the beginning of the Seven Years' War he joined the Presbyterians and was appointed as manager by Anne, Princess Royal and Princess of Orange, Anne of Hanover. In 1762 he founded Hope & Co. In 1766 he was representing the stadtholder in all the chambers of the Dutch East India Company, VOC. Adam Smith dedicated the fourth edition of his Inquiry into the Nature and Causes of the Wealth of Nations (1776) to Thomas Hope. Family The Hope family originally came from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seven Years' War
The Seven Years' War (1756–1763) was a global conflict that involved most of the European Great Powers, and was fought primarily in Europe, the Americas, and Asia-Pacific. Other concurrent conflicts include the French and Indian War (1754–1763), the Carnatic Wars and the Anglo-Spanish War (1762–1763). The opposing alliances were led by Great Britain and France respectively, both seeking to establish global pre-eminence at the expense of the other. Along with Spain, France fought Britain both in Europe and overseas with land-based armies and naval forces, while Britain's ally Prussia sought territorial expansion in Europe and consolidation of its power. Long-standing colonial rivalries pitting Britain against France and Spain in North America and the West Indies were fought on a grand scale with consequential results. Prussia sought greater influence in the German states, while Austria wanted to regain Silesia, captured by Prussia in the previous war, and to contain Pruss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch East India Company (VOC)
The United East India Company ( nl, Verenigde Oostindische Compagnie, the VOC) was a chartered company established on the 20th March 1602 by the States General of the Netherlands amalgamating existing companies into the first joint-stock company in the world, granting it a 21-year monopoly to carry out trade activities in Asia. Shares in the company could be bought by any resident of the United Provinces and then subsequently bought and sold in open-air secondary markets (one of which became the Amsterdam Stock Exchange). It is sometimes considered to have been the first multinational corporation. It was a powerful company, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike its own coins, and establish colonies. They are also known for their international slave trade. Statistically, the VOC eclipsed all of its rivals in the Asia trade. Between 1602 and 1796 the VOC sent almost a million Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amsterdam
Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population of 907,976 within the city proper, 1,558,755 in the City Region of Amsterdam, urban area and 2,480,394 in the Amsterdam metropolitan area, metropolitan area. Located in the Provinces of the Netherlands, Dutch province of North Holland, Amsterdam is colloquially referred to as the "Venice of the North", for its large number of canals, now designated a World Heritage Site, UNESCO World Heritage Site. Amsterdam was founded at the mouth of the Amstel River that was dammed to control flooding; the city's name derives from the Amstel dam. Originally a small fishing village in the late 12th century, Amsterdam became a major world port during the Dutch Golden Age of the 17th century, when the Netherlands was an economic powerhouse. Amsterdam is th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hope & Co
Hope & Co. was a Dutch bank that existed for two and a half centuries. The bank was located in Amsterdam until 1795; originally it concentrated on Great Britain. From 1750 it played a major part in the finances of the Dutch East India Company (VOC) through Thomas Hope and his brother Adrian. During the Seven Years' War (1756–1763) the Hope brothers profited from the Netherlands' neutral position and became very wealthy. The Hopes became heavily involved in the Dutch Caribbean, and Danish West Indies. They specialised in plantation loans, in which the entire produce of the plantation was remitted to the lender, who would supervise its sale in order to secure repayment. In this way, the Hopes helped the plantation economy to become integrated into a global network of financiers and consumers. The Hope family were among the richest in Europe at the time. The family business focused on financing commercial transactions and especially on issuing money loans to monarchs and governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slave Trade
Slavery and enslavement are both the state and the condition of being a slave—someone forbidden to quit one's service for an enslaver, and who is treated by the enslaver as property. Slavery typically involves slaves being made to perform some form of work while also having their location or residence dictated by the enslaver. Many historical cases of enslavement occurred as a result of breaking the law, becoming indebted, or suffering a military defeat; other forms of slavery were instituted along demographic lines such as race. Slaves may be kept in bondage for life or for a fixed period of time, after which they would be granted freedom. Although slavery is usually involuntary and involves coercion, there are also cases where people voluntarily enter into slavery to pay a debt or earn money due to poverty. In the course of human history, slavery was a typical feature of civilization, and was legal in most societies, but it is now outlawed in most countries of the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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