dec 16, 1609 - Bank of Amsterdam (1609)

Description:

Description:

World trade was improved by the establishment of financial institutions. The bank was founded and collected multiple currencies and credited it to the depositor (like bank money) It was secure with consistent value. Money could be easily added and removed. A system called Double-Entry Booking which was a banking system with debit and credit. It prevented errors and made for a more efficient economy.

Effects:

Netherland’s trade domination
World trade was improved