Amsterdam Wisselbank (Bank of Amsterdam)

Amsterdam Wisselbank (Bank of Amsterdam)

The Bank of Amsterdam was originally a town hall, but was converted into a bank by the city of Amsterdam in the year 1609. The Bank of Amsterdam is considered to be the first modern central bank. As the Netherlands entered the Dutch Golden Age in the 17th century, Amsterdam became one of the economic centers of Europe. Thanks to the massive blossoming of trade with the operations of the Dutch East India Company (VOC), coins from different countries and regions were circulating in the Dutch economy. It is also worth noting that VOC was the first multinational corporation, and it drove the Netherlands to becoming an economic superpower. However, a system to determine exchange rates was not there. The Amsterdam Wisselbank was the solution to create a more efficient and safer facilitation of trade. The creation of this first modern bank in Amsterdam can be viewed as a milestone in both Europe's economic history, and a symbol of Dutch economic triumph.

Once obscure, Amsterdam was now a center of trade. While countries like Spain and France were struggling, Netherlands was becoming an economic leader in Europe.

References:
"Amsterdam: Capital of the Golden Age." Visit Holland: The Netherlands Board of Tourism. November 01, 2018. Accessed November 18, 2018. https://www.holland.com/global/tourism.htm.
Wiesner, Merry E. “Early Modern Europe, 1450-1789.” Cambridge History of Europe ; v. 2. Cambridge ; New York: Cambridge University Press, 2006.
"The Bank of Amsterdam." Beurs Geschiedenis. April 13, 2017. Accessed November 18, 2018. https://www.beursgeschiedenis.nl/en/moment/the-bank-of-amsterdam/.

Pieter Saenredam (Painting)

https://en.wikipedia.org/wiki/Amsterdam_Wisselbank#/media/File:Saenredam_-_Het_oude_stadhuis_te_Amsterdam.jpeg

1609

Kaan Taskintuna

Public Domain

Painting