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	Encyclopedia: Johan Palmstruch
		Johan Palmstruch (born 1611 in Riga, died 1671; named Johan Wittmacher before he was ennobled) was a Dutch merchant credited with the introduction of paper money to Europe.
		Palmstruch was charged with irresponsible book-keeping and with not having the cash to repay these credit notes due to miscalculation and omissions in his book-keeping.
		Johan Palmstruch was private, it was the King who chose its management: in a letter to Palmstruch he gave permission to its operations according to stated regulations.
	www.nationmaster.com /encyclopedia/Johan-Palmstruch (872 words)

	Stockholms Banco - Wikipedia, the free encyclopedia
		Johan Palmstruch had made two failed proposals for the creation of a banking institution in the 1650s before his third proposal, with the addition of a promise to pay half of the bank's profits to the crown, was accepted.
		Palmstruch's first major innovation in combining these two departments was to use the money deposited by account holders to finance the loans rather than requiring capital to be provided by himself or the other bank owners.
		Palmstruch's second major innovation was the introduction of paper banknotes as a solution to the bank's problems balancing deposits and loans.
	en.wikipedia.org /wiki/Stockholms_Banco (887 words)

	Johan Palmstruch (Site not responding. Last check: 2007-10-13)
		The first of these was to use money deposited into accounts at the bank to finance loan (The temporary provision of money (usually at interest)) s, however this soon became a problem as the deposits were usually short-term and the loans long-term, meaning that deposited money was unavailable to be withdrawn by account holders.
		Palmstruch's second innovation, and his solution to this problem, was the introduction in 1661 of Kreditivsedlar ("credit paper"), the first European banknote (A piece of paper money (especially one issued by a central bank)) s, which would be exchangeable at any time for the metal coins they were replacing.
		Palmstruch was charged with irresponsible book-keeping (additional info and facts about book-keeping) and with not having the cash to repay these credit notes due to miscalculation and omissions in his book-keeping.
	www.absoluteastronomy.com /encyclopedia/j/jo/johan_palmstruch.htm (301 words)

	Encyclopedia article: Palmstruch (Site not responding. Last check: 2007-10-13)
		Palmstruch Bank or the Bank of Palmstruch, alternate names for Stockholms Banco (additional info and facts about Stockholms Banco), the first European bank to issue printed banknotes.
		Johan Palmstruch (additional info and facts about Johan Palmstruch) (1611 - 1671), the founder of Stockholms Banco (additional info and facts about Stockholms Banco).
		Johan Wilhelm Palmstruch (1770 - 1811), Swedish botanist.
	www.absoluteastronomy.com /encyclopedia/P/Pa/Palmstruch.htm (59 words)

	Encyclopedia: Palmstruch
		Palmstruch-Bank (schwedish: Palmstruchska banken) found in 1656 by Johan Palmstruch, a Jewish imigrant from Riga and a flawed genius who was as irritating as he was enchanting, five years to fulfil his dream of a freely circulating paper currency.
		While Palmstruch was sentenced to death for lending money without gold backing - all banks are doing today the same, which is considered now a 'honorable business'.
		Although the bank of Johan_Palmstruch was private, it was the King who chose its management: in a letter to Palmstruch he gave permission to its operations according to stated regulations.
	www.nationmaster.com /encyclopedia/Palmstruch (553 words)

	Sveriges Riksbank - the free encyclopedia (Site not responding. Last check: 2007-10-13)
		Although the bank was private, it was theKingwho chose its management: in a letter to Palmstruch he gavepermission to its operations according to stated regulations.
		Palmstruch, who was considered responsiblefor the bank's losses, was condemned to death, but later receivedclemency.
		On September 17, 1668, the privilege of Palmstruch to operate a bank, wastransferred to the Riksens Ständers Bank and was run underthe auspices of the parliament of the day.
	www.aaez.biz /?t=Sveriges_Riksbank (499 words)

	Encyclopedia article: Sveriges Riksbank (Site not responding. Last check: 2007-10-13)
		It is known to be the world's oldest central bank (A government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government).
		Although the bank was private, it was the King (A male sovereign; ruler of a kingdom) who chose its management: in a letter to Palmstruch he gave permission to its operations according to stated regulations.
		Due to the failure of Stockholm Banco the new bank was managed under the direct control of the Riksdag of the Estates (additional info and facts about Riksdag of the Estates) to prevent the interference of the King (A male sovereign; ruler of a kingdom).
	www.absoluteastronomy.com /encyclopedia/s/sv/sveriges_riksbank.htm (763 words)

	Bank of Sweden Article, BankSweden Information (Site not responding. Last check: 2007-10-13)
		Although the bank of Johan Palmstruch was private, itwas the King who chose its management: in a letter to Palmstruch hegave permission to its operations according to stated regulations.
		On September 17, 1668, the privilege of Palmstruch to operate a bank, was transferred to the Riksens Ständers Bank and was rununder the auspices of the parliament of the day.
		Due to the failure of Stockholm Banco the new bank was managed under the directcontrol of the Riksdag of the Estates to prevent theinterference of the King.
	www.anoca.org /notes/riksbank/bank_of_sweden.html (569 words)

	[No title] (Site not responding. Last check: 2007-10-13)
		The Riksbank began its operations 3 in 1668, its 2 antecedent being the Bank of Palmstruch or the Stockholm Banco, which was founded in 0 1656.
		Although the bank 1 of Johan Palmstruch 9 was private, it 0 was the King who 2 chose its management: in 5 a letter to 5 Palmstruch he gave permission 4 to its operations 9 according to stated regulations.
		Palmstruch, who 1 was considered responsible for 7 the bank's losses, was 0 condemned to death, 0 but later received clemency.
	www.thecreditcard.org /bank_of_sweden_.htm (704 words)

	Geschichte des Papiergeldes
		Therefore, Johan Palmstruch, who in 1657 founded the Stockholms Banco, suggested as a new monetary unit - a temporary "Kreditivsedlar" (credit paper).
		Unfortunately for Johan Palmstruch, all this came to a bitter end.
		Palmstruch was taken to court and was made accountable for damages and was sentenced to prison.
	www.moneymuseum.com /standard_english/raeume/geld_machen/bank/geschichte/sachen/geschichte_papier/gesch_papierEuro_unten.html (411 words)

	Sveriges Riksbank/Riksbanken - Stockholms Banco
		The man behind the proposal, who also became the banks` director, was Johan Palmstruch (Wittmacher before he was ennobled), born in Riga and a burgher of Amsterdam who had arrived in Sweden in 1647 and become a commissioner in the National Board of Trade, which was then fairly new.
		In order to acquire patrons, Palmstruch recruited influential persons as part-owners; their reward was 1/8 of the profit without being required to contribute any capital or take any responsibility for the bank (Palmstruch was also to have 1/8, the city of Stockholm 1/1 and the Crown, as mentioned, the rest).
		To solve the liquidity problem, Palmstruch made out "credit notes" backed by a promise of future payment in metal; freely transferable and denominated in round sums, these were Europe's first bank notes.
	www.riksbank.com /templates/Page.aspx?id=8183 (1056 words)

	History of BANKING (Site not responding. Last check: 2007-10-13)
		In 1656 Johan Palmstruch establishes the Stockholm Banco.
		In 1661, in consultation with the government, Palmstruch issues credit notes which can be exchanged, on presentation to his bank, for a stated number of silver coins.
		Palmstruch's notes (the earliest to survive dates from a 1666 issue) are impressive-looking pieces of printed paper with eight hand-written signatures on each.
	www.historyworld.net /wrldhis/PlainTextHistories.asp?groupid=2453&HistoryID=ac19 (2175 words)

	Magazine Magnus - Impractical record (Site not responding. Last check: 2007-10-13)
		Palmstruch received coins from merchants who were consequently given a receipt which, for a small fee, could be used as a means of payment.
		But Johan Palmstruch made the biggest mistake of his life, a mistake which many others were to make.
		Their value sank, the bank went bust and Palmstruch was arrested and sentenced to death.
	magazine.magnus.se /artikele.asp?artikel=riksbank (270 words)

	Sveriges Riksbank/Riksbanken - The Riksbank up to the 20th century
		Although the Palmstruch bank (Stockholms Banco) had occasioned losses and difficulties, arousing indignation and bitterness, the need for a bank was considered self-evident.
		So it was not until 1906 that the former state commercial bank and subvention institute, now a regular central bank, was able to move to a new building behind the houses of parliament on Helgeandsholmen.
		In the early 1870s, moreover, Sweden, Norway and Denmark introduced a common monetary system based on gold, with krona (crown) as the name of the monetary unit; in the 1890s the monetary union was extended to include the notes.
	www.riksbank.se /templates/Page.aspx?id=8184 (7042 words)

	Peter Grosell Antiquarian Bookseller - Denmark (Site not responding. Last check: 2007-10-13)
		Johan Wilhelm Palmstruch (1770-1811), an army officer, who had learned drawing from Desprez, made 455 coloured drawings of plants (now in the Academy of Sciences) and planned this magnificent work using as models Oeder's Flora Danica and Sowerby's English Botany.
		After Palmstruch's death the drawings were made by Gustaf Johan Billberg, Chancellor of the Exchequer and botanist, by Swartz, Lars Levi Laestadius, A. Agrelius, and P. Wahlberg.
		Palmstruch's own illustrations, in the six first volumes, have been characterized as the best pictures of plants ever produced in Sweden, and make this one of the most beautiful of Swedish books.
	www.grosell.dk /pg9001.html (2789 words)

	Sveriges Riksbank/Riksbanken - 1590-1668
		Towards the end of the reign of Johan III, the value of Swedish coins deteriorated both rapidly and substantially.
		The banknotes were a great success, but it all ended in a bank failure as Palmstruch issued too many notes in the form of unsecured loans.
		Palmstruch was removed from office and condemned to death, although he was reprieved.
	www.riksbank.com /templates/Page.aspx?id=9170 (436 words)

	Sweden
		The last part, of which the text was written by J.W. Dalman, was published not earlier than 1825, and is not present, as in most of the copies.
		The fine plates, engraved by J.W. Palmstruch and J.G. Ruckman, are all drawn by J.W. Palmstruch.
		Johan Wilhelm Zetterstedt (1785-1875, professor of botany at the University in Lund) was a well-known naturalist, who's travel-accounts belong to the best ever written on the Scandinavian North.
	www.antiquariaatjunk.com /php/search.php3?Subjects=Sweden&CatTitle=Sweden (638 words)

	Atlantic Collection, The - Paper Currency : World History - A World History of Paper Currency
		To cope with the problem, Johan Palmstruch's bank in Stockholm issued hand-written notes with set denominations, issuing date, and pressed stamps the following year.
		Eventually, Palmstruch's bank was closed and he was imprisoned.
		Like Palmstruch, Mohlen, and Law, many paper money trailblazers often faced incredible hardships, but without their contributions, people's pockets would be much heavier today.
	www.atlanticcollection.com /paper-currency-world-history.html (901 words)

	[CTRL] [2] Banking - The Struggle for Stability
		Johan Palmstruch, founder of the Bank of Stockholm in 1656, devised a paper currency to take the place of copper coins.
		The issue of Palmstruch's notes subsequently ran out of control and the experiment was suspended in 1664.
		It was not until the foundation of the Bank of England in 1694 that the potential scope of a state bank became obvious.
	www.mail-archive.com /ctrl@listserv.aol.com/msg03468.html (5275 words)

	A Short History Of Money
		According to tradition, the first European to introduce paper money was a Swedish banker named Johan Palmstruch, whose Stockholm Banco began to issue the stuff in 1661.
		Unlike a modern banker, he was taken to trial for mismanagement and sentenced to death, though the sentence was commuted to life imprisonment.
		Despite the unhappy ending to Palmstruch's scheme, the idea was one whose time had come, and paper money was adopted by other European countries.
	www.vectorsite.net /twmoney.html (6107 words)

	Read about Sveriges Riksbank at WorldVillage Encyclopedia. Research Sveriges Riksbank and learn about Sveriges Riksbank ... (Site not responding. Last check: 2007-10-13)
		It is known to be the world's oldest
		Stockholms Banco (also known as the Bank of Palmstruch, which was founded by
		Due to the failure of Stockholm Banco the new bank was managed under the direct control of the
	encyclopedia.worldvillage.com /s/b/Sveriges_Riksbank (510 words)

	History - Finansinspektionen
		King Karl X Gustav establishes the office of Chief Inspector of Banks to handle supervision of Stockholm Banco, Sweden’s first commercial bank.
		Dutchman Johan Palmstruch had opened the bank in 1657 after receiving permission from the king.
		Supervision of banks is taken over by the Ministry of Finance.
	www.fi.se /Templates/Page____3127.aspx (383 words)

	petymol.vw.html
		to J. van Veen, a compatriot presenting the van Veen grab in 1933 (possbly identical with the engeneer Johan van Veen, 1893-1959,)?.
		He had published in orhithology in 1893, likely inspired by his father Hans Daniel Johan Wallengren, 1823-94, who had studied zoology under Sven Nilsson (q.v.) and published valuable works about birds and gastropods, but during his time as clergyman, the interest of Wallengren Sr.
		Johan Nordahl Fischer Wille, (28 Oct. - Hobøl) 1858-1924 (4 Feb.), green algae specialist, arriving from Sweden to the Norwegian Agricultural College in 1889 as a teacher, four years later becoming professor in Oslo [Chlorochytrium willei Printz.].
	www.tmbl.gu.se /libdb/taxon/personetymol/petymol.vw.html (15095 words)

	1_14_2 (Site not responding. Last check: 2007-10-13)
		Johan Wilhelm Palmstruch, cavalry captain and botanist, begins publishing "Swedish Botany" in 1802.
		He both drew and engraved the pictures of sea buckthorn...
		Svensk botanik, u.jpgven av J. Palmstruch, med text författad af O. Swartz.
	www.bildmuseet.umu.se /tankensbilder/frames/bildspel/1eng/1_14_2.html (35 words)

	John Dalmas - excerpts from Armfelt
		Then Johan Frisius had stepped up, and personally provided the credit needed for rations, shaming Stockholm into a brief semblance of responsibility.
		Johan Henrik Frisenheim, the commissariat general assigned by the king to the Army of Jämtland, was as glad as anyone to waken to sunshine.
		The eleventh, Lieutenant General Reinhold Johan de la Barre, was the tallest of them all, and the doorway was little more than six feet high.
	www.sfwa.org /members/dalmas/armfelt_09_12.html (8993 words)

	Paradox Interactive Forums - Crazy Carolus Sweden AAR : Absolut Inflation (Site not responding. Last check: 2007-10-13)
		December 4, 1533 : Ivan IV Grozny rose to the throne in Russia.
		January 1, 1534 : Johan Tre Rosor awaits your command in Nyland.
		Nylands brigad under Johan Tre Rosor(3/2/3) in Nyland, 17k/9 guns.
	www.europa-universalis.com /forum/showthread.php?s=&threadid=20641 (8086 words)

	Paper Money: Crisp and Even - CFO.com (Site not responding. Last check: 2007-10-13)
		By the 15th century even China had more or less given up paper money.
		In Europe, the honour of being the first issuer of paper money belongs to Sweden, where in 1661 Johan Palmstruch's Stockholm Banco introduced the first banknotes.
		Yet after a splendid start, the bank overextended itself and had to call in government aid; Palmstruch himself was sentenced to death (later commuted to life imprisonment) for mismanagement.
	www.cfo.com /printable/article.cfm/3002714 (2600 words)

	Stock Market Message Board Wall Street Hates Most
		The article says the Stockholm bank in 1661 was the first to issue paper and after a time issued a lot more then gold on deposit and went bankrupt
		The owner Johan Palmstruch was sentenced to death
		The article does not say whether the sentence was executed
	www.capitalstool.com /forums/index.php?s=3cee20435c5bd524b0cdd72db9abd240&showtopic=4447&pid=219080&st=20& (530 words)

	WHKMLA : History of Sweden, 1654-1680
		In 1661, Sweden signed a trade treaty with England, in 1662 one with France, in 1667 with the Dutch Republic, based on the principle free ships make free goods.
		In 1668 the Swedish state acquired Johan Palmstruch's bank, renaming it Riksens Staenders Bank, the predecessor of the Riksbank - Europe's first national bank.
		In 1637 the colony of NEW SWEDEN was established at Delaware, in 1652 another colony at CABO CORSO at the Bay of Guinea (Africa) by the AFRICA COMPANY founded by Dutch immigrant Louis de Geer.
	www.zum.de /whkmla/region/scandinavia/swe16541680.html (1005 words)

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