Credit institutions in Rus'. An excursion into history: how were world banks created? What is a bank in the 17th century

History of banking starts from the 7th century BC. It is generally accepted that moneylenders existed in Babylon even then. And even the first bank notes - hudu, which circulated on a par with gold.

It is known that in Ancient Greece there were money changers - mealmakers. They exchanged coins and accepted money for safekeeping. The first non-cash payments were also made there by crediting and debiting funds from customer accounts. That is, the first cash settlement services were carried out. In addition, ancient Greek temples provided loans from the savings that were stored in them.

Already in the 2nd century BC, in a number of megacities such as Thebes, Hermontis, Memphis and Siena, there were so-called royal banks, where funds from collecting taxes and income from state enterprises were accumulated. And the money was spent on public needs, for example paying salaries to soldiers.

IN Ancient Rome banking activities were carried out by mensarii and argentarii. The first specialized in the exchange of coins. The second - on raising funds and issuing loans, as well as money transfers between cities.

In the Middle Ages, the demand for bankers' services increased significantly: there were many different coins in circulation that needed to be changed for trade. Then the word “bank” arose - from the name of the bench where the money changers sat. Banco translated from Italian language means “bench”, “bench”. Moreover, already at that time, bankers were engaged not only in exchange, but also in maintaining customer accounts, as well as non-cash payments.

It is known that the Catholic Church opposed the charging of interest, so banking in the Middle Ages became the prerogative of mainly Jews. Pope Alexander III, at the Third Lateran Council in 1179, declared that those who took interest should be deprived of communion and Christian burial. Bankers were persecuted both in France - under Saint Louis and Philip the Fair, and in England - under Henry III. Interestingly, sometimes exiled bankers bought the right to return to the country, and this became a source of income for governments. In Italy in the 1460s, the so-called montes pietatis arose - specialized institutions, who collected donations and issued small loans to those in need at interest, which should only be enough to cover their own expenses.

One of the first banks is considered to be a partnership created in the Republic of Genoa, to which the function of collecting certain taxes was transferred in order to finance the wars in Algeria and Tunisia in 1147. It existed until 1816 and, among other services, accepted deposits from individuals. And the first state bank was Banco della Piaza de Rialto, created by decision of the Senate of the Venetian Republic in 1584.

The Amsterdam Bank was opened in 1609. He is known for introducing such a concept as the “bank florin” - a monetary unit equated to a certain weight of pure silver, into which all accepted coins were converted. The Englishman William Peterson, while studying the activities of the Amsterdam Bank, made a discovery: the bank does not need to have real 100% reserves of the precious metal to cover its own obligations. According to Peterson's project, in 1694 the first bank of issue in the modern sense, responsible for issuing paper money, was created - the Bank of England. Its capital was placed in government securities, which were the security for the issued banknotes.

The history of banking in Russia dates back to the 17th century. In Pskov in 1665, the first semblance of a credit organization for merchants appeared. Under Empress Anna Ioannovna, loans began to be issued from the mint for the first time at a certain percentage. And the first Russian credit institutions in the modern sense appeared in 1754 on the orders of Elizabeth Petrovna - Noble Loan Banks in St. Petersburg and Moscow and the Merchant Bank in St. Petersburg.

1) a distinct, elevated part of the seabed, above which the depths are much shallower than those around it. Bodies with depths above them of less than 20 m are dangerous for navigation and are usually furnished with navigational signs;

2) a board to give the boat lateral strength, which is also a seat for the rower;

3) folding bench on a ship.

Excellent definition

Incomplete definition ↓

BANKS

from late lat. banca - money changer's bench) - enterprises that mediate loans and payments. In pre-capitalist formations in connection with the development of commodity currency. relationships and money means receiving payments. distribution of usurer. credit. On this basis, the beginnings of banking operations appeared in Dr. Egypt, Babylonia, Assyria, Carthage, where they were carried out by corporations of priests and temples, which accepted deposits for safekeeping and issued loans to societies. businesses and individuals. In Dr. In Greece, along with temples (temple in Delphi, Ephesus, etc.), banking was carried out by trapezitas (from the Greek trapeza - table), who accepted deposits for safekeeping, and money changers, who exchanged coins. In Dr. Rome already had norms of banking and credit law. Rome. bankers in the 3rd century. BC e. were divided into numularians (from Latin nummus - coin), who specialized in money change, and Argentarii (from Latin argentums - silver, money), who provided loans. From other Greek moneylenders. and Rome bankers differed only in that they lent not only their own. money, but also amounts received in the form of deposits, and were also engaged in money change. In the Middle Ages. Europe first moneylenders-bankers there were (10-13 centuries) churches and monasteries, in the 10-11 centuries. merchants-money changers appeared in Italy, and from the end. 12th century - merchant bankers, who combined trade in goods with operations of exchanging coins and transferring money, accepting deposits and issuing loans. Activities Italian merchant bankers (“Lombards”) spread to other countries (England, France, Spain, Germany, the Netherlands) and reached its highest development in the 15th-16th centuries in the person of the Florentine bankers (Bardi, Perucci, Medici, etc.). At the same time, these countries had their own local merchant bankers, and among them the most famous South German ones (the Welsers, the Baumgartners, the largest Fugger firm). During the period of developed feudalism, credit remained usurious - the main borrowers were kings and feudal lords, partly city-states, and therefore merchant bankers often became tax collectors, tax farmers, and treasurers. The emergence of the first bank - the Genoese bank of St. George in 1407, was caused by the desire to streamline the large debt of the Genoese Republic of its many. merchant creditors. He was the association of all creditors, the collective banker of the republic, to whom control of its finances gradually passed. In the 16th-17th centuries. in some large trading cities on the initiative of merchants. guilds and under the control of the mountains. authorities established banks of a special type - girobanks (from Italian giro - turnover, circulation). Their purpose was to carry out settlements between merchants in order to eliminate difficulties in trade due to damage to coins by feudal lords. For this purpose, the money deposited by merchants was recalculated by B. according to their weight content into a conventional “bank coin”. In these days. units, the girobank carried out settlements between merchants by transferring amounts on their deposits. Such girobanks were the Venetian Banco di Realto (1587) and Banco del Giro (1619), later merged into one (the Genoese Bank also began to perform the functions of the girobank), the Milanese Bank of St. Ambrosia (1601), Amsterdam (1609), Hamburg (1619), Nuremberg (1621), etc. Having means. depositors' funds, the banks began to use them to issue loans to states, cities, and sometimes privileged companies, but did not satisfy the credit needs of merchants and nascent industries. capitalists. Main mass of den. capital continued to remain in the hands of usurers. The urgent task of the emerging capitalist class was to reduce interest and limit it to a part of average profit. First, the fight against usury in the 16th-18th centuries. was expressed in the legislative limitation of the maximum interest rate, but this measure was not effective enough. This is a real way of subordinating interest-bearing capital to industry. capital was the creation of its characteristic form - the credit system (see K. Marx, Theories of surplus value, 1961, part 3, p. 445). Banks in the period of capitalism. Capitalist The banking system arose in two ways: through the gradual transformation of the Middle Ages. bankers (money changers, moneylenders, merchant bankers) into capitalist bankers and by organizing joint stock companies. B. on capitalist. beginnings. The process of credit formation. system began in England in the 2nd half. 17th century, in other Western Europe. State Vakh and the USA - at 18 - beginning. 19th centuries and, despite the known differences, can be characterized by certain common features. At its initial stage, bankers and banking houses predominated, and joint stock companies. Banks arose as emission ones, that is, those whose main assets (in addition to their own capital) The source of funds is the issue of credit. means of circulation - banknotes. At the same time, the formation of issuing banknotes as banknotes, monopolistically issuing banknotes within the country, occurred in different ways. The Bank of England (1694) was initially granted only a limited privilege, and the issue of banknotes in England itself was also carried out by bankers and banking houses, and a number of issuing banks arose in Scotland and Ireland. The French Bank (1800) and the Austrian Bank (1816) were from the very beginning monopoly emission B. Before the unification of Germany, as well as Italy, dept. states had their own emission banks, some of them even after the establishment of the Italian Bank (1861) and the German government. The Reichsbank (1875) retained a limited right to issue banknotes. In the USA, the number of emission banks in the 19th century. reached several thousand, and only in 1913 a unified Federal Reserve System of 12 banknotes was organized, of which all banks that had the right to issue banknotes became shareholders. Aks. commercial B. (so-called deposits), i.e. those for which Ch. the source of funds are deposits and current accounts; they began to appear much later than emission accounts: in England - only by the 30s. 19th century, in other Western Europe. countries - in the 40-50s. With the development of these B. in the 2nd half. 19th century The formation of the modern era was completed. capitalistic credit systems. At its head is the center. emission bank, which regulates money. appeal, concentrates dep. commercial reserves B., credits Ch. arr. the same B., i.e., performs the role of a “bank of banks”, and performs the functions of a state cashier. Temporarily available funds and money. capitalists' reserves are concentrated in shares. commercial B., which carry out internal lending in various forms. and ext. trade, lending (and later financing) industrial. and other enterprises, transactions with state, municipal and other loans. Specialist. mortgage banks issue long-term loans secured by mountains. and agricultural lands. Small capitalist layers in a number of countries are served by credit. cooperation. Bankers and banking houses in the 2nd half. 19th century lose their former importance, with the exception of some of the largest in the West. Europe, such as, for example, the Rothschilds, Baring, Schroeder, Lazar, Gottinger, Mirabeau. Banks during the period of imperialism. In the era of imperialism, as a result of the gigantic concentration of production and the centralization of capital from among commercial enterprises. In each country there are a few financial monopolists, who control almost all the money. capital of the country. V.I. Lenin in his work “Imperialism, as the highest stage of capitalism”, analyzing this process, wrote that “... with the concentration of capital and the growth of banks’ turnover, their significance changes radically. From disparate capitalists, one collective capitalist is formed.. A handful of monopolists subjugate the commercial and industrial operations of the entire capitalist society, gaining the opportunity - through banking connections, through current accounts and other financial transactions - first to find out exactly the state of affairs of individual capitalists, then to control them, influence them through expansion or contraction, facilitation. or credit difficulties, and finally completely determine their fate, determine their profitability, deprive them of capital or give them the opportunity to quickly and enormously increase their capital, etc.” (Works, vol. 22, pp. 202-03). Based on the merger of banking and industrial capital arises finance. capital and financial oligarchy, industrial interweaving occurs. and banking monopolies, a personal union of their leaders arises and their close connection with governments. apparatus (see State-monopoly capitalism). All these processes intensify during the period of the general crisis of capitalism. The process of concentration of B. can be judged by the following. data. In England, for example, the number of deposit banks decreased from 99 in 1895 to 38 in 1914 and 15 in 1958. In the 20s. 20th century in England, the “Big Five” banking giants were formed, under whose control is the banking system of England (Barclays Bank, Midland Bank, Lloyd Bank, Westminster Bank and National Provincial Bank), to -rym belongs to approx. 85% of total deposits and balances B. A few banking monopolies dominate credit. system of Germany, France and other capitalist. countries In the USA, legislation prohibits the opening of B branches. in different states, and concentration occurs through the purchase of controlling stakes and while maintaining the formal independence of small companies, which in fact have turned into branches of giant companies. At the same time, the 20 largest US banks (Bank of America, Chase Manhattan Bank, First National City Bank of New York, etc.) account for St. 30% of the deposits of all B. During the period of the general crisis of capitalism after the collapse of the gold currency in the 30s, and then the conscious withdrawal from it, the issue of banknotes was increasingly used to finance the state and the inflationary robbery of the working people. An increasingly large share of commercial resources. B. is also used to finance the military. etc. does not produce. government expenses. Back in the 19th century. In England, France, and certain other countries, colonial and foreign banks arose, playing a large role in the exploitation of colonial and dependent countries and developing a huge network of branches there. The largest colonial B. Charter Bank still has branches in India, Pakistan, Burma, Malaya, Singapore, Honduras, North. Borneo, Ceylon and other countries. "Hong Kong-Shanghai Banking Corporation" with ch. with an office in Hong Kong (Hong Kong), it has branches in India, Burma, Ceylon, Malaya and other countries. As a result, English B. still play a dominant role in foreign lending. trade of India. During the period of the general crisis of capitalism, bank monopolists are involved in the exploitation of colonies and semi-colonies, organizing their branches there or establishing and subordinating colonial banks. Thus, Barclays Bank organized a special bank in 1925. Barclays Dominion Colonial and Overseas Bank, which has branches in England. colonies in Africa, Britain. Guinea, Brit. Honduras, Brit. West Indies. The largest US banks also took the path of organizing foreign branches (mainly in Latin America and the Far East). The intensification of the struggle for markets and sources of raw materials led to the organization of capitalist. Mr. special B., financing foreign trade. expansion. In the USA, the Export-Import Bank was organized by the state in 1934. Similar state and half-year After World War II, bourgeoisie were established in Germany, France, and Japan. During the period of the general crisis of capitalism, international organizations were also created. public law banking institutions. So, after the 1st World War, the Bank International was established to settle reparation payments. calculations. As a result of the agreement adopted at the financial and monetary conference in Bretton Woods (USA, 1944), the International. Monetary Fund and Int. bank for reconstruction and development, actually controlled by the United States. In contrast to the expansion of B. imperialist. state-in, in countries liberated from colonial oppression, grow under the state. supporting their national B., our own banking system is taking shape. For example, in India, after liberation from colonial oppression, the Reserve Bank of India (1948), organized in 1935 and under the control of the British, was nationalized. In 1955, a law was adopted on the organization of the State. bank, to which all the assets and liabilities of the Imperial Bank, the largest commercial enterprise, were transferred. bank in India, controlled by the British. The Reserve Bank of India is the main shareholder State bank, the remaining shares belong to the Indian commercial enterprise. B. and insurance companies. In the UAR (Egyptian region), the National Republic was nationalized in 1960. a bank organized in 1898 and controlled by the British. During the period of aggression by England, France and Israel (1956) against Egypt, commercial. B., owned by the British and French, were sequestered. In 1957, a law was passed on the Egyptianization of banking and insurance companies: only Egyptians can engage in banking operations. acc. about-va; sequestered English and French B. were transferred to organized Egypt. B., the majority of the shares belong to the state. In June 1961, all banks in the UAR were nationalized. In economically backward countries, in which the state plays a prominent role. capitalism, state B. set their task to promote the development of the people. x-va, in particular industrialization. However, due to insufficient funds and the preservation of private capitalism. kh-va one of the sources of long-term financing is the issue of bank notes, which is an inflationary factor leading to an increase in commodity prices. Banks in pre-revolutionary Russia. One of the features of the pre-reform economy. Russia was state monopoly in banking. On this basis, very large banks arose, which did not so much contribute to the development of capitalism. relations, how much to strengthen the serfdom. state and farm. The predecessor of the Russian state B. was a coin office that issued loans since 1733. Basic function of B. pre-reform. Russia was providing loans to landowners; the size of the loans was determined by the number of serf souls the landowners had. Such operations were carried out by the Bank for the nobility (1754-86), State. loan bank (1786-1860), Treasury treasuries under St. Petersburg. and Moscow will educate houses (1772-1860), Orders of societies. charity (1775-1860), Auxiliary. bank for the nobility (1797-1802), and also, in to a certain extent , Copper Bank (1758-62). Lending to trade (mainly foreign) was carried out in immeasurably smaller amounts. Trade was financed by: the bank at the Commerce Collegium (1754-82), the Accounting Offices (1797-1817), the Commercial Bank (1818-60), and the Astrakhan Bank (1764-1821). Their role was insignificant. Founded in 1769 in St. Petersburg and Moscow, B. "for the exchange of state notes", reorganized in 1786 into the State. Assignation Bank (existed until 1843), were institutions for issuing state. paper money. In the last forty years before reforms. period, the B. system, remaining unchanged, consisted of State. debt and government commercial B. in St. Petersburg, St. Petersburg. safe treasury and Moscow. safe treasury and orders of societies. contempt on the lips. cities. Monopolization of state credit, domination of serfdom. system that constrained the development of production. forces and made it difficult to transform “idle” capital into functioning capital, led to the accumulation of large cash deposits in government funds (in 1833 - 295 million rubles in silver, in 1859 - 970 million rubles in silver). In addition to issuing long-term loans to landowners, deposits (from the 1910s) were used by the government as loans. In 1859, the debt of the Belarusian treasury reached 521 million rubles. Thus, “borrowings” from government funds made up the overwhelming majority of internal funds. state debt. Under these conditions, the initial forms of capitalism. This means that bankers and banking houses could not get a bank loan in Russia. development. On the eve of the reform of 1861, the production was forced to liquidate all of the listed companies (1859). This cleared the way for the development of the capitalist system. B. in Russia. Instead of pre-reforms. B. State was established in 1860. bank, which became the largest commercial bank. B. countries, and from 1896-97, after the elimination of paper money and the introduction of gold currency, the center. emission B. Russia. Following Gos. The bank began to be established in the 60s. various commercial and land B.T. o., in a very brief history. period - less than 15 years - a capitalist system has developed. credit Russian system. -***-***-***- Table 1. Number of banks and branches, resources and investments of commercial banks in Russia (by 1914) [s]BANKS_1.JPG By the beginning of the 1st World War, Russia had a highly developed banking system. Among commercial B. center the place was occupied by the State. bank and shares commercial B. In addition, there were many B. lending mainly. middle layers of trade and industry bourgeoisie, in the form of mutual credit societies, as well as the mountains. public B., owned by local governments. Aks. commercial B. by 1914, they invested huge amounts of money in trade lending and industrial financing. and other enterprises. Concentration of ac. commercial B. was extremely high and exceeded the level achieved in Ch. capitalistic countries. Listed in table. The 2 largest banks turned into monopolists, owners of internal den. market and St. Petersburg stock exchange, in chap. intermediaries between foreign money. markets and Russian enterprises. They played an active role in the formation and strengthening of syndicates and trusts in Russia. During the prom. During the boom of 1909-13, banking monopolies invested hundreds of millions of rubles. in the expansion of large enterprises, especially heavy industry. On the contrary, during the First World War, financing of industry, which switched to military. deliveries were carried out mainly Treasury. In this regard, Russian parasitism. banking monopolies increased sharply; they used their resources to finance the war. government expenses, unbridled speculation in goods and shares, as well as to expand control over various enterprises. By 1917, the control or influence of large banking monopolies extended to 468 industries. and non-industrial enterprises with a capital of 2.17 billion rubles, which accounted for 19% of all shares. enterprises and 44% of their capital. B.'s influence was especially significant in metallurgy, mechanical engineering, and oil. and cement, sah. and tab. industry, private railway and water transport. The largest Russian B. were closely connected with foreigners who penetrated into Russia. financial-capitalist groups and the most important French. and german B. The latter belonged to some leading Russian. B. a significant portion of their stock capital. -***-***-***- Table 2. Main indicators of the development of joint-stock commercial banks in Russia (by 1914: in million rubles) [s]BANKS_2.JPG Since the emergence of joint-stock companies. commercial B. in the 60s. 19th century until their nationalization in 1917 they were used by the government. support in such significant amounts and in such forms that were unknown to the general public. capitalistic countries before the onset of a general crisis of capitalism. Establishment of new joint stock companies. B. was strictly limited by production. For the entire existence of Russia. capitalism, only 94 joint stock companies were established. commercial B., whereas in other capitalist. There were hundreds of them in European countries, and thousands in the USA. The number of simultaneously existing shares in Russia: B. barely exceeded 40 in the 2nd half. 19th century and only by 1914 reached 50. This policy of the government accelerated the centralization of capital in existing banks, especially in St. Petersburg and Moscow, and with the advent of the period of imperialism it contributed to the strengthening of the processes of monopolization of credit. State The bank provided extensive and constant lending to the shares. commercial B. Banking monopolies were financed by the Special Office for Credit. parts. Ministry of Finance and State. The bank was repeatedly saved from collapse by shaky shares. commercial and others B., taking over their management and covering them at the expense of the state. funds for their losses. The leading figures of the largest banks were former prominent officials of the Ministry of Finance: A. I. Putilov, A. I. Vyshnegradsky. The merging of monopolies with the apparatus of the Ministry of Finance was one of the manifestations of state monopoly. capitalism in Russia and the expression of political. union of serf-landowners with Russian. financial oligarchy. Earth credit in Russia was represented by two state. B. - Noble and Peasant (their share in 1914 accounted for over 60% of mortgaged agricultural land), 8 local noble V., 10 joint-stock companies. land B. and 36 mountains. credit about you. All the earth By 1914, 5.4 billion rubles were issued. mortgage notes (a type of long-term bonds, with the help of which mortgage bonds attract capitalist funds) and long-term loans were provided for 5.3 billion rubles. Of these, St. 3.6 billion was issued on the security of agricultural products. lands, including up to 60% received by landowners (and mainly used to increase their parasitic consumption), and 40% was sent through the Peasant Bank to finance purchases of landowners' lands by the kulak-wealthy elite of the village at inflated prices (see. Stolypin agrarian reform). The need of the village upper classes for agriculture. production the loan was satisfied by the so-called. cross. society institutions and zemstvo cash offices for small loans, and Ch. arr. - savings and loan. and credit partnerships (credit cooperation). In 1914 there were 18 thousand such institutions and partnerships with 645 million rubles. issued loans. The working masses of the peasantry were almost deprived of bank credit and were exploited by the kulak usurers. elements of the village. Guiding means. part of the mortgage loan funds in the interests of landowners, the government deliberately delayed the development of loans for the mountains. lands and houses. Their total amount did not reach 1.7 million rubles by 1914, which amounted to 32% of the total loan amount, while even in the bourgeoisie. Junker Germany mountains. the mortgage loan was 3 times higher than agricultural loans. land. Save. The cash registers in Russia belonged to the state, and the government used deposits (by 1914 - 1.7 billion rubles) to invest in the state. government bonds and mortgage notes. land B. Main. The features of the Russian banking system were: big role states in the formation of capitalist. credit systems and that means. his interference in B.'s activities; commercial development B. and especially banking monopolies at the level of ch. capitalistic countries; development of land (mortgage) bank credit with the decisive participation of the government and its use in the interests of preserving semi-serfdom. latifundium, and subsequently for carrying out the Stolypin agrarian campaign. reforms; poor development of production, agricultural loan. Banks in socialist countries Banks in the USSR. Sov. B. represent the state. institutions operating in accordance with national economics. The plan includes lending to the current activities of enterprises and financing capital investments, organizing non-cash money. payments in the country, planned regulation of money. turnover and ruble control over the implementation of household chores. plans. The banking system of the USSR was built in accordance with V.I. Lenin’s instructions that banks under socialism are an apparatus of societies. accounting, general government accounting for production and distribution of products. In the USSR, for the first time, the Marxist-Leninist doctrine of revolution was put into practice. transformation of capitalist B. after the victory of the proletarian revolution. The nationalization of large banks was the implementation of one of the chapters. economic requirements programs Oct. revolution. Fundamental transformation of credit. system of Russia began with the mastery of the old State. by bank 25 Oct. (7 Nov.) 1917. Akt. commercial B. were nationalized on December 14 (27). 1917. In Jan. 1918 State The bank was renamed People's Bank of the RSFSR and its merger with nationalized shares began. B. into a single bank. During 1918, all mortgage banks, mutual credit societies and cities were liquidated. B. Cred. cooperation was preserved, and its center was Moscow. adv. bank, converted 2 Dec. 1918 in co-op. department Nar. jar. In the conditions of naturalization of the economy during the war years. communism cred. and settlement transactions Nar. Bank of the RSFSR were collapsed, and in 1920 it was abolished. Following the transition to NEP, the Soviet Union is restored and begins to develop. banking system. On Nov. 1921 State began its activities. Bank of the RSFSR. In the context of the continued depreciation of money (sovznak), one of the most important tasks was the creation of a stable sov. currencies. At the end of 1922 at the State. The bank was entrusted with the issue of banknotes (chervonets), which culminated in the transition to hard currency in March 1924. In 1922-24, specialized loans were created. institutions - credit. cooperation headed by the State. rep. B. and Center agricultural B., co-op. B. (All-Russian and Ukrainian), industry specific. B. - Russian trade. industrial bank (Prombank), electrification bank (Elektrobank), Vneshtorgbank, local utility banks. Kotov Sovetov and Central B. communal and residential. construction (Tsekombank). Territories were established in certain districts. B. - Southeast, Central Asian, Far Eastern. In addition, mutual credit societies arose for lending to artisans, artisans and temporarily admitted private capital. The predominant part of the credit. system was state. property, the smaller part is a co-op. property and only a very insignificant one - the mutual credit society - belonged to private capitalism. I'll lay it down. With the plurality of B. unity of state. credit policy was ensured by the leadership of Narkomfin and the predominant role of the State. bank on credit system. B will restore. period, short-term loans accounted for the majority (over 85%) of the loan. investments of all B. Sov. B. contributed to the development of commodity money. relations and restoration of people. x-va, the growth and strengthening of its socialist. sector, restriction and displacement of capitalist. elements. B.'s plurality was a short, transitory stage in the development of owls. credit systems associated with features will restore. period and the diversity of society at that time. economy. With the transition to socialism. industrialization credit. the system was radically restructured. This was started in 1927 and completed in 1934, with the credit being the most important step. reform 1930-32. As a result, new ones were developed and implemented, corresponding to the nature of socialism. x-va, principles and forms of lending for production and circulation of goods, settlements between socialist. enterprises and financing capital investments. Thus, socialist mutual lending was eliminated. enterprises and their indirect lending B. through the discounting of bills. Direct bank lending to enterprises has been introduced in accordance with their production and household activities. plans. Financing of capital investments of all types of government. enterprises became irrevocable, and long-term loans were retained for collective farm-co-op investments. sectors. Methods and forms of lending and financing of enterprises and settlements between them began to contribute to banking ruble control over the implementation of plans. A clear distinction was made between lending to production and households. activities and long-term lending and investment financing. State B. became a single B. short-term lending for the production and circulation of goods, a settlement and cash center. x-va. Other banks: Prombank, Selkhozbank, Vsekobank (Torgbank), Tsekombank with local utility banks. - became specialized B. long-term investments. Subsequently, the banking system of the USSR was not subject to significant changes. organizational changes until 1959. A huge increase in capital investment in the village. x-in and mountains. lived construction, decentralization of construction management required the introduction of even greater unity in the organization. structure of owls B. Apr 7 In 1959, a resolution was adopted on the reorganization of the long-term investment system. The Agricultural Bank, Tsekombank, and local municipal banks were liquidated (Torgbank was liquidated back in 1955); their functions were transferred to the State Bank of the USSR and Prombank, which was reorganized into the All-Union Bank for Financing Capital Investments - Stroybank of the USSR. Modern owls credit the system consists of three banks - the State Bank of the USSR, the Stroybank of the USSR with an extensive network of branches and the Vneshtorgbank of the USSR (Bank for Foreign Trade), as well as from the state. savings banks. Almost all public funds are concentrated in the State Bank of the USSR. short-term lending fund x-va, consisting of den. reserves and temporarily available funds of the financial-budgetary system (their most important part is state budget funds), state. and co-op.-households. organizations and various societies. organizations. The State Bank's source of funds is also the issue of currency. signs for servicing reproduction through short-term credit. At the expense of all these sources, the State Bank carries out short-term lending to all sectors of the people in a planned manner. x-va. Credit. investments State B. (in the form of short-term loans) on January 1. 1960 reached 39.5 billion rubles. (in the new price scale). Of these, the vast majority serve the circulation working capital . From the total amount of credit. more than 35% of investments were in industry, 14.9% in rural areas. x-in and blanks and 34.2% - for internal. trade. The network of State Bank branches amounted (at the beginning of 1960) to 4,269 units. The State Bank carries out all payments between enterprises and institutions in a non-cash manner. On this basis and through cash and credit. planning The State Bank, as an emission bank, regulates the amount of cash. circulation in the country in accordance with national economics. plan. Through its credit, settlement and cash operations, the State Bank controls with the ruble the implementation of plans for the production and circulation of products. Since 1959, the State Bank has concentrated almost all long-term lending for capital investments of cooperative-collective farms. sectors. Construction Bank of the USSR carries out in accordance with the national economy. plans to finance newly created foundations. funds and reconstruction and expansion of existing facilities. industrial, transport and communications funds, as well as non-production funds. funds (residential and cultural construction). Sources of financing are budgetary allocations and internal industry. funds - depreciation and part of the profits of enterprises transferred to Stroybank. The need for capital investments, not provided for by the plan and giving a quick effect in the form of above-plan production, is satisfied by long-term (1-2 and up to 6 years) loans from Stroybank and State Bank. Vneshtorgbank of the USSR, along with the State Bank and by agreement with it, carries out operational work related to international. settlements of the USSR, including settlement and credit. transactions with foreigners B. for the export and import of goods, for non-trade payments abroad and from abroad, carries out lending and settlements of Soviet foreign trade organizations in the USSR. Banks in foreign countries of the socialist camp. Almost all European In the period preceding the establishment of popular power, the countries of people's democracy had highly developed credit and banking systems, which, however, were more or less strongly dependent on finance. capital ch. imperialistic countries (with the exception of B. on the territory of the GDR). Banking systems b. colonial states and semi-colonies (China, Korea, Vietnam) were located entirely or partially. least in the hands of foreigners. capital. In Mongolia, before the revolution of 1921, there were no credits at all. in-you An attempt by the reaction to use B. in the fight against the victorious people. the authorities accelerated the need to transfer B. into the hands of the state. In Czechoslovakia, Romania, Hungary and Bulgaria, the transfer of B. into the hands of the people. democracy took place gradually, as the bourgeoisie was ousted from their positions, and basically. ended in 1947-48. In Poland and the GDR, where the war led to the complete collapse of the pre-war system. credit systems, mastery of banking was achieved through the creation of new state. B. socialist type. In the DPRK, mastery of the credit and banking system was carried out through the nationalization of foreign exchange. property. Socialism was distinguished by great originality. B. transformation in China. In just a few years he will be freed. fight against the Japanese invaders and the Kuomintang reaction to the liberated territories. China created people. B., which are 1 December. 1948 were united into the center. Banking Institute of Liberated China - Nar. Bank of China. Therefore, by the time of the proclamation of the People's Republic. China already had the credit. a system of a new type, the region helped the state immediately take control of the activities of the disorganized banking system inherited from the Kuomintang regime. Deepening state control over the activities of private banks was facilitated by the confiscation of “bureaucratic capital” invested in the bank. It transferred controlling stakes in many credits to the hands of the state. institute and allowed, without complete nationalization of B., to begin the peaceful transformation of private B., first into mixed state-private ones, and then into purely state ones. banking inst. The nationalization of B. was one of the fundamental revolutionary-democratic changes. transformations that completely undermined the economic the power of the bourgeoisie. In conditions of socialization the main means of production, the nationalization of B. allowed the people's democracy. the state, you must radically restructure the creeds inherited from the bourgeoisie. system and put B. at the service of building a new, socialist. about-va. Modern banking systems of socialist countries. The camps are characterized by the centralization of banking. The credit and banking system of each state is headed by the Center. state bank, which is the main, and in some countries (for example, the Mongolian People's Republic, in fact Czechoslovakia) also a single link of credit. systems. This bank serves as the country's emission, credit, cash, and settlement center. -***-***-***- Table 3. Central banks of a number of foreign countries of the socialist camp [s]BANKS_3.JPG In addition to the center. B., in a number of countries. In democracies there are specialized banks serving certain areas of activity or departments. sectors of people x-va. These banks include: investment banks that finance people. farms in Bulgaria, Hungary, East Germany, Poland, Democratic Republic of Vietnam, North Korea, Romania; agricultural agriculture - in the GDR and Romania; banks for external trade - in Hungary, East Germany, China and Poland; credit cooperatives - in the DPRK, Romania and Poland; savings banks - in the vast majority of countries. Lit.: General work about banks under capitalism - Marx K., Capital, vol. 3, M., 1955; Lenin V.I., Imperialism as the highest stage of capitalism, Works, 4th ed., vol. 22; Hilferding R., Finance. capital. A Study of the Newest Phase in the Development of Capitalism, trans. with him. I. I. Stepanova-Skvortsova, M., 1959; Bretel E. Ya., Den. circulation and credit of capitalist countries, 2nd ed., M., 1955; his, Credit and the credit system of capitalism, M., 1948; Motylev V. E., Finance capital and its organizational forms, M., 1959; Trakhtenberg I. A., The monetary system of capitalism after the 2nd World War, M., 1954; Frey L.I., Sovrem. banking systems of England, USA, France and Germany, 2nd ed., M., 1958; Banking Encyclopedia, ed. L. N. Yasnopolsky, Kyiv, 1914; Banking systems. Ed. by Becknart, N.Y., 1954; Burger O., Geschichte des Bankwesens, in the book: Enzyklop?disches Lexikon f?r das Geld-Bank- und B?rsenwesen, Frankf./M., (1957); Geschichte und gegenw?rtiger Zustand des Bankwesens, in the book: Handw?rterbuch der Staatswissenschaften, Jena, 1924 (Ehrenberg R., Die Banken vom 11 bis 17 Jahrh., Lexis W., Die Banken in den Kontinentalen Staaten im 18 Jahrh. ); Conant Ch. A., A history of modern banks of issue, 5 ed., N. Y.-L., 1915, 6 ed., N. Y.-L., 1927; Madden J. T. and Nadler M., The international money markets, N. Y., 1935. Banks of capitalist countries. Banks of England - Bagehot W., Lombard Street, lane. from English, St. Petersburg, 1901; Aaronovich S., British monopoly capital, trans. from English, M., 1956; Andr?ad?s A., History of the bank of England.., 3 ed., L., 1935; Dacey W. M., The British banking mecanism, L., 1958; Grant A. T. K., A study of the capital market in post-war Britain, N. Y.-L., 1937; Sayers R. S., Modern banking, 2 ed., Oxf., (1948); Banking in the British commonwealth. Ed. by R. S. Sayers, Oxf., 1952; US banks - Vygodsky S. L., Credit and credit policy of the United States of America. Economic experience analysis of the role of the center. banks in the era of imperialism, 2nd ed., revised. and additional, (L.), 1940; Federal Reserve System. Goals and functions, trans. from English Entry article and general ed. E. Ya. Bregel, M., 1959; Perlo V., Empire of financial tycoons, trans. from English, M., 1958; Ornatsky I., Export-Import Bank of the USA, M., 1959; Banking studies. By members of the Staff Board of governors of the F R. S., (Balt.), 1941; Burgess W., Reserve banks and the money market, rev. ed. N. Y., 1946; Halm G., Economics of money and banking, Homewood (Ill.), 1956; Harris C., Twenty years of the federal reserve policy. ., v. 1-2, Cambr., (Mass.)-Oxf., 1933; Willis H. R., The federal reserve system, N. Y., 1923. Banks of France - Schneerson A. I., Finance. capital in France, M., 1937; Rebotje M., Participation of banks in industry, trans. from French, M., 1937; Lysis (Letailleur E.), Contre l'oligarchie financiere en France, 5?d., R.,1908; Kaufmann E., Das franz?sische Bankwesen, 2 Aufl., T?bingen, 1923; Ramon G., Histoire de la Banque de France..., 5?d., R., (1929); Dupont P., Le contr?le des banques et la direction du cr?dit de France, P., 1952; Spenlsas G. N., Organization et contr?le du cr?dit bancaire en France, R., 1953; Banks of Germany - Zhukovskaya R., Banks of Germany during the period of the general crisis of capitalism, M., 1936; Weber A., Deposit and speculative banks, trans. with him. and after. author to Russian ed., M.-L., 1928; Faingar M. M., Essay on the development of Germany. monopolistic capital, M., 1958; Jeidels O., Das Verh?ltnis der deutschen Grossbanken zur Industrie mit besonderer Ber?cksichtigung der Eisenindustrie, 2 Aufl., Munch., 1913; Riesser J., Die deutschen Grossbanken und ihre Konzentration im Zusammenhang..., 4 Aufl., Jena, 1912; Hagemann W., Das Verh?ltnis der deutschen Grossbanken zur Industrie, B., 1931; Geisler R. P., Notenbankverfassung und Notenbankentwicklung in USA und Westdeutschland, B., (1953); Baumann G., Banken, Banken?ber alles, B., 1956; Bankpolitik, Staatshaushalt und W?hrung in Westdeutschland. Autorenkollektiv unter Leitung von A. Lemmnitz, B., 1956. Banks of India - Frey L. I., Monetary system and international. calculations of the Republic of India, M., 1956; Grodko N., The monetary system of India during the period of colonial dependence, M., 1956. Banks in pre-revolutionary Russia - Borovoy S. Ya., Credit and banks of Russia. (Mid-17th century - 1861), M., 1958; Migulin P. P., Russian State. credit (1769-1899), vol. 1, X., 1899; Granovsky E. L., Monopolistic. capitalism in Russia, Leningrad, 1929; Pony

By the end of the reign of Peter I, the understanding of the need to create a state bank modeled on European ones was also maturing in the upper strata of Russian society. Several projects for his organization are known, submitted in 1728, 1731-1732, 1738, 1744 and 1747, but not implemented. Nevertheless, the widespread use of loan operations and bill circulation in the country required institutionalization.

Development of loan operations

Since 1733, the Coinage Office began to issue so-called pawnshop loans to persons close to the court, secured by gold, silver, precious stones and products made from them. The office received the right to issue loans in an amount not exceeding 75% of the value of gold and silver (at the so-called specified price) for a period of one year with the right to defer payment for up to three years, after which the unredeemed mortgages were turned over to the state. A decree on this on the proposal of Privy Councilor Count G.I. Golovkina appeared on January 8, 1733. The amounts that the Coin Office could operate were extremely limited, and with the establishment of the first state-owned banks in 1754, its credit operations ceased.

Bill of exchange charter

As in Europe, the bill of exchange in Russia was used for processing a commercial loan, making payments and transferring money and was already known in the 17th century. Bills of exchange were also used in relations between merchants and the treasury. Bills of exchange “for government money” came into use at the very end of the 17th century. when merchants pay customs duties.

At the beginning of the 18th century. The state, through bills of exchange, began to transfer money abroad through foreign merchants, mainly for the maintenance of the Russian army during its stay abroad. This was soon legalized by a personal decree of Peter I of April 15, 1716.

In 1729, the Bill of Exchange Charter was adopted, which legislatively regulated bill transactions and the circulation of bills. The bill of exchange charter was borrowed from German bill law, common in Sweden. At the same time, it can be said that the introduction of the Bill of Exchange Charter, at least in the first decades, was a measure more calculated for the future than one that consolidated Russian practice, and went ahead of the bill circulation itself, which had a very limited development in Russia, not extending beyond the capital region.

According to the Bill of Exchange Charter of 1729, the circulation of promissory notes and bills of exchange was legalized in Russia. Bills of exchange were used mainly in foreign trade(they were also called “fair” ones, since they were also widely used to transfer large sums of money in connection with large fairs).

However, the most common in Russia not only in the 18th century, but also in the 19th century. There were simple bills of exchange, and the form of a bill of exchange was used much less frequently and mainly for the transfer of government money from one government institution to another. The charter of 1729 provided for a bill of exchange form of payment not only between private individuals, but also with the treasury.

Since 1728, the practice was finally established when governors and collegium officials could act as drawers of bills on behalf of the state, and from 1740 they could also be issued by city clerks.

First State Bank 1753

The establishment of the very first state bank in Russia was not connected with the development function money circulation, but with a different task: to defeat the growing process of alienation of noble estates for debts. By decree to the Senate, Empress Elizabeth Petrovna on May 1, 1753 ordered the formation of a State Bank in Russia for credit support of the nobility (more precisely, two banks: in St. Petersburg and Moscow), and at the same time the same decree spoke of the formation of another bank - the so-called Bank for Correction at the St. Petersburg port of commerce, the establishment of which became one of the undertakings of the policy of enlightened absolutism.

Banks were a new endeavor in Russia, so when they were created, they actively borrowed foreign experience, even the wording of the decree itself indicated familiarity with the experience of the Swedish Riksbank. At the same time, it must be said that the first Russian banks did not become a copy of the European ones and the established state bank, unlike the Swedish one, was not given the right to issue paper money - its bank notes or obligations for the amount of accepted deposits.

Banking institutions first emerged in ancient world(6th century BC – 5th century AD). The first bankers were money changers - they exchanged coins. Subsequently, they became intermediaries in payments. Later they began to perform a deposit function (accept banknotes for storage).
The money changers began to issue money that they received for safekeeping as loans and turned into a full-fledged bank.
Middle Ages (5th-18th century). Feudal society. Modern banks arose between the 13th and 15th centuries. in Italy. The first bank was called Cassa St. George in Genoa in 1408. Then city giro banks arose in Milan and Venice, which specialized in non-cash payments. T
The term "banker" (money changer) originated in Venice from the word "banco", which means money changer's table. Coins were exchanged on these tables.
With the development of international trade, bankers began to open branches abroad. Banks began to appear in France, England, Spain, the Netherlands, and Germany.
Until the end of the 17th century, banks served mainly trade, but with the emergence of the bourgeoisie, loans stimulated industrialization (steamships, steam locomotives, etc.

Development of banking in modern times (17-18 - end of 19 centuries). Bourgeois society
By the 18th century, the trading cities of Italy lost their leading positions and Amsterdam and London became the centers of Europe.
In Antwerp and Amsterdam, banks began to discount (purchase) bills of exchange.
The word "bill" appeared in the 12th century and meant "letter of exchange." Used as a means of exchanging cash to transport it over long distances. Subsequently, the bill acquired a credit function and began to be transferred by endorsement to a third party. The table will force cash out of circulation.
July 27, 1694 The Central Bank of England was created. He received a monopoly right to issue money and began lending to the state. After 3 years, he began to maintain government accounts and receive taxes. Since 1751 it has managed the national debt. And the World Bank prohibited the creation of other joint-stock banks until 1827.
After the ban was lifted, 140 banks appeared and their main feature was their narrow specialization.
The Bank of France was founded in 1800 by transforming the royal bank. Until this time, all banks were allowed to print money and this ended in uncontrolled emission, inflation and crisis. The first private banks were founded in France in 1814 by James Rothschild. Banks specialized in short-term lending. By 1847 there were 26 in total. A limit was set on the growth of the number of banks. However, this year the Paris Revolution occurred and the banking system collapsed. By the end of the 19th century, there were 4 banks operating in France:
- Paris accounting office
- Leonese credit
- General Society for the Promotion of Trade and Industry
- Trade and industrial credit
They were depository institutions and provided loans to industry.
Germany. In Germany, the first banks appeared in the 18th century - they provided loans to mines and mines. By the 19th century, 30 banks were operating, most of them wassuing money. In 1845, the Reichsbank (Reichsbank) was founded; the modern name of the Bundesbank is the Central Bank of Germany. Since 1875 it has a monopoly on the issue of money. In the 19th century, the Deutschebank and Dresdenbank were formed. Total quantity = 500.
USA after civil war 1775-1783 The First Bank of the United States was founded. He began to issue the American dollar. Since 1791, the state has not issued a “chandler” - a document, charter and license - to other credit organizations.
In 1811, Chandler was liquidated along with the bank and 400 new banks emerged. In 1816, the Second Bank of the United States was founded and operated for 20 years. He created branches without the approval of the federal government and after its closure a huge number of credit organizations arose. During the Civil War of 1861-1865, there were 6,000 types of banknotes in circulation. The problems of banking regulation were resolved only with the creation of the Federal Reserve System (US Central Bank) in 1913.
The main features of the European banking system by the beginning of the 19th century were:
- issuing (state bank)
- the presence of a group of commercial (private) banks that compete with each other for clients.

Development of banking in modern times (20-21 centuries). capitalist and post-capitalist (information) society
Banking systems have undergone enormous changes as a result of the world wars.
As a result of the crisis and hyperinflation in Germany in 1933, Hitler came to power and in 1934 the Reichsbank received a monopoly on the issue.
In 1939, the number of banks was significantly reduced and anti-inflationary measures were taken. After World War II, all Reichsbank branches were closed in the Soviet zone, and 11 Reichsbank branches were created in the western zone, modeled on the Federal Reserve.
In 1948, a monetary reform was carried out. IN modern form The German Central Bank appeared on July 30, 1957 - the Deutsche Bundesbank, which included 11 departments and 130 branches and branches. This was the first level of the banking system. Second level – 4,000 commercial banks, 45,000 branches.
The modern UK banking system emerged in 1946, when the Bank of England ceased to be a joint stock company and became a government bank. In 1979, the Bank of England began to control the banking system and issue licenses, but since 1997 it has been involved in banking supervision state committee on banking supervision. In addition to the Bank of England, the banking system includes:
- banking institutions
- credit institutions ( insurance companies, pension funds etc.)
The largest bank is Barclays Bank (bought by Lemon Brothers). The number of banks is more than 2000.
France. In 1945, 3 banks were formed: Credit Leon, Banque National de Paris, and Societe Generale. Currently, the first level of the banking system = Bank of France and banking supervisory authorities (national credit council, banking regulation committee, banking commission, committee of credit institutions.
On the second level:
- banking institutions
- special credit institutions (savings banks, postal check management_
Large banks - Crediagricole, Paribas, etc.
USA. Until 1912, there were more than 20,000 banks in the banking system, 7,000 issued issues. In 1913, the country was divided into 12 districts, in each of which a Federal Reserve branch was created (13 in total).
Banking system
- first level of the Federal Reserve System
- second level commercial banks(national - license is issued federal authorities, and state banks - license issued by state authorities).
Largest banks: City Group, Goldman Sachs, GP-Morgan Chase, Bank of America.

Credit institutions in Rus'. An excursion into history: how were world banks created? What is a bank in the 17th century

BANKS

Development of loan operations

Bill of exchange charter

First State Bank 1753

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