Badische Bank
The Badische Bank was Baden's central bank from 1870 to 1935 . The seat of the private bank was Mannheim and from 1932 Karlsruhe . It was liquidated by Reich law in 1934 and then only existed as a commercial bank-typical credit institution.
history
The establishment of a central bank was discussed in the Baden state parliament as early as 1844 . The aim was to become independent from foreign banks. Resistance delayed the establishment until 1870, when the chambers of commerce in Mannheim and Karlsruhe worked out the bill to establish the Badische Bank and passed it through the state parliament. However, the Grand Duchy issued paper money as early as 1848 and 1854. On March 25, 1870, the Badische Bank received its license as a private central bank from the government of the Grand Duchy of Baden . In addition to the Grand Duchy itself, other shareholders were also involved in the establishment of the bank. In addition to private bankers from Baden, these included Adolf von Hansemann from Disconto-Gesellschaft and Baron Carl von Rothschild for the Frankfurter Bank MA Rothschild & Sons . The capital was 10,500,000 guilders (corresponding to 6,000,000 thalers ) and was divided into 30,000 shares of 350 guilders (or 200 thalers). A branch opened in Karlsruhe as early as 1871.
The bank had the right to issue banknotes up to three times the paid-up capital. One third of the notes in circulation had to be covered by silver, two thirds by gold or bills of exchange . In return for the central bank privilege, the bank was obliged to distribute a fifth of the profit to the country after deducting a 5 percent dividend . This state share rose from 2,626.80 gold marks in 1880 to 22,885 marks in 1890. On December 1, 1870, the Badische Bank issued 10 gulden notes and on July 1, 1871, 50 gulden notes. The banknotes in circulation amounted to 11,370,000 guilders in 1871 and rose to 30,276,000 guilders by 1874. After the nationwide introduction of the mark currency, 100 mark notes followed in 1874, 1890, 1902, 1907 and 1918. All of these banknotes were printed by Dondorf & Naumann in Frankfurt .
During the period of inflation , the Badische Bank issued banknotes with denominations of 500 marks (on August 1, 1922), 5,000 marks, 10,000 marks, 500,000 marks, 1 million marks, 20 million marks, 2 billion marks and 100 billion marks within a little over a year Mark (October 30, 1923). In October 1924 it issued again banknotes for 50 marks.
In 1931 the Republic of Baden acquired a block of shares from Deutsche Bank and thereby became the majority shareholder. In 1934 the National Socialist government revoked the banknote privilege. As a result, the bank expanded as a regular commercial bank . In 1937 the Carl Trautwein banking business in Freiburg was acquired.
In 1978 the Badische Bank merged with the Württembergische Bank to form the Baden-Württembergische Bank , which was taken over by the Landesbank Baden-Württemberg in 2001 .
Web links
- Early documents and newspaper articles on the Badische Bank in the 20th Century press kit of the ZBW - Leibniz Information Center for Economics .
literature
- Heinz Fengler: History of the German central banks before the introduction of the mark currency . Regenstauf 1992, ISBN 3-924861-05-6 , pages 71-73
- Friedrich Wielandt : Baden coin and money history . Verlag G. Braun, Karlsruhe 1979, ISBN 3-7650-9014-X
- Georg Richter (Red.): Badische Bank: 100 years; 1870-1970 . Karlsruhe 1970
- Deutsche Bundesbank : Paper money in the German Reich 1871-1948. Frankfurt am Main, 1965.
Individual evidence
- ^ Albert Pick: Papiergeld, 1967, pp. 178-180
- ^ Based on the Baden law of March 16, 1870, promulgated on March 24, 1870; Ges. VOBl. fd GrHzt Baden No. XVII, page 219 ff
- ^ Meyers Konversationslexikon, Fourth Edition, 1885-1892, Volume 18: Annual Supplement 1890-1891, p. 745