24 mars 1609 - Bank of Amsterdam (1609)

Description:

This bank both represents the Dutch preeminence in trade and a new standards for economics in the 17th and 18th centuries. The bank itself created fixed rates of monetary exchange and settled the chaotic state of currency in Europe at the time. It also was a factor that helped establish the Dutch, and specifically Amsterdam, as a center for commercial industry over the next couple centuries. The establishing of the bank was more impactful for Europe than the founding of the Dutch East India Company in 1602 because the bank had an immediate and lasting impact on the monetary systems of Europe, whereas India was only beginning to become an important colony in the world at this point. (Palmer 152)

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