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Private Banking in EuropeRise, Retreat, and Resurgence$
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Youssef Cassis and Philip L. Cottrell

Print publication date: 2015

Print ISBN-13: 9780198735755

Published to Oxford Scholarship Online: September 2015

DOI: 10.1093/acprof:oso/9780198735755.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 July 2021

Public and Private Markets for Capital and Credit, 1688–1793

Public and Private Markets for Capital and Credit, 1688–1793

Chapter:
(p.39) Chapter 2 Public and Private Markets for Capital and Credit, 1688–1793
Source:
Private Banking in Europe
Author(s):

Youssef Cassis

Philip L. Cottrell

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198735755.003.0003

Chapter 2 considers the greater formalization, and concurrent growth, of private banking, aided by the establishment of the first quasi-central banks, such as the Bank of England, and the development of capital markets with a more complete articulation. Its timeframe is set by the so-called English financial revolution on the one hand, and, on the other, the end of Amsterdam as a major international capital market, brought about by the invasion of French revolutionary forces. Formalized private banking developed in depth and width first within the British Isles, initially in London during the late seventeenth century, and thereafter within the provinces. This major financial advance, which had a multifaceted relationship with the onset of industrialization, is contrasted with the roles played by lawyer-bankers and financiers during the last century of the Ancien Régime in France, and by court bankers in the German states.

Keywords:   central banks, Amsterdam, London, Goldsmiths, financiers, industrialization

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