Der Banco in Stockholm. /Banque des Marchands a Stockholm

Title

Der Banco in Stockholm. /Banque des Marchands a Stockholm

Description

Stockholms Banco (also known as the Bank of Palmstruch or Palmstruch Bank) in Sweden was the first European bank to print banknotes. The bank was founded in 1657 by Johan Palmstruch and began printing banknotes in 1661. It was to be the precursor to Sveriges Riksbank, the central bank of Sweden.

ca. 1780

Artist

Hauer

Historical Description

Stockholm is the capital of Sweden and the most populous city in the Nordic countries. The city stretches across fourteen islands where Lake Mälaren flows into the Baltic Sea. Just outside the city and along the coast is the island chain of the Stockholm archipelago. The area has been settled since the Stone Age, in the 6th millennium BC, and was founded as a city in 1252 by Swedish statesman Birger Jarl. It is also the capital of Stockholm County. Stockholm's location appears in Norse sagas as Agnafit, and in Heimskringla in connection with the legendary king Agne. The earliest written mention of the name Stockholm dates from 1252, by which time the mines in Bergslagen made it an important site in the iron trade. The first part of the name (stock) means log in Swedish, although it may also be connected to an old German word (Stock) meaning fortification. The second part of the name (holm) means islet, and is thought to refer to the islet Helgeandsholmen in central Stockholm. According to Eric Chronicles the city is said to have been founded by Birger Jarl to protect Sweden from sea invasions made by Karelians after the pillage of Sigtuna on Lake Mälaren in 1187. The strategic and economic importance of the city made Stockholm an important factor in relations between the Danish Kings of the Kalmar Union and the national independence movement in the 15th century. The 17th century saw Sweden grow into a major European power, reflected in the development of the city of Stockholm. After the end of the Great Northern War the city stagnated. Population growth halted and economic growth slowed. The city was in shock after having lost its place as the capital of a Great power. However Stockholm maintained its role as the political centre of Sweden and continued to develop culturally under Gustav III.By the second half of the 19th century, Stockholm had regained its leading economic role. New industries emerged and Stockholm was transformed into an important trade and service centre as well as a key gateway point within Sweden. After the Ice Age, at around 8,000 BC, there had already been vast migrations towards the present-day Stockholm area, but as temperatures dropped, inhabitants moved away towards the South. Thousands of years later, as the ground thawed, the climate became tolerable, and the lands became fertile, some life moved back to the North. At the intersection of the Baltic Sea and lake Mälaren is an archipelago site where the Old Town of Stockholm was first occupied in about 1000 AD by Vikings. Vikings had a positive trade impact on the land because of the trade routes they created.