Extremely interesting document of the Bank of Poland from 1861, which is a bank correspondence regarding authorization of withdrawals and international settlements.
The document contains information confirming a payment order issued by the Bank of Poland (the issuer) to another person or institution (the scribe, here: the Rothschild Brothers in Paris) to pay a certain amount of money (407.69 francs) to a third party (the remitter, the payee, here: P.F. Bonna and Company of Geneva). In addition, the document states that Adolf Banzemer (1806-1861; an important figure of economic and social life in the Kingdom of Poland, Counselor to the General Prosecutor's Office) received a letter of credit (letter of credit) from the Bank of Poland for the sum of 5,000 rubles (or its equivalent). The document instructs the Rothschilds to return the money to the Avigdor Bank of Nice, which the latter can pay to Banzemer.
The document lists several important European financial operators in the second half of the 19th century:
- Avigdor l'Ainé et fils de Nice (Avigdor the Elder and Sons of Nice), a significant private banking house operating in the 19th century, based in Nice. It engaged in banking, trading and large-scale financial operations. The company served as a correspondent of the Rothschild bank.
- P. F. Bonna et Cie de Genève (P. F. Bonna and Company of Geneva) - a Geneva-based private banking house that played an important role in the Swiss financial system of the 19th and 20th centuries. The company was involved in wealth management, handling international trade and brokering bills of exchange.
- Rothschild frères, à Paris (Rothschild Brothers in Paris) - one of the largest financial institutions in the world at the time of the Bank of Poland document described here. The Rotschilds were the main financial partner of the Kingdom of Poland and the Bank of Poland in the West.
This document shows how the banking system worked in the mid-19th century. Instead of sending cash from Warsaw to Geneva or Nice, the Bank of Poland gave a guarantee (letter of credit), on the basis of which local banks (Avigdor in Nice, Bonna in Geneva) paid the money locally. The Rothschild Brothers Bank of Paris, on the other hand, acted as a central clearing agent that equalized balances between all these institutions.
Transcription from French:
Banque de Pologne
N° 14522
Varsovie le 1/13 Juin 1861.
Messieurs,
La Banque a l'honneur de confirmer sa lettre du 12 de ce mois, qui vous donnait avis de sa traite de fr. 407. 69 à 2 m. d/v. et à l'ordre de Mrs. P.F. Bonna et Cie de Genève.
Cette lettre vous priait d'accueillir à la charge du compte de la Banque les dispositions que pourraient émettre sur vous, Mrs. Avigdor l'Ainé et fils de Nice, en remboursement de paiements effectués sur une accréditive circulaire de R. 5.000 ou la valeur, que la Banque a délivré à Mr. Adolphe Banzemer.
p. Le Président, Conseiller Privé Le Vice-Président, Conseiller d'Etat actuel: Stanislaw Szemioth [handwritten signature].
Le chef des bureaux, Conseiller de Collège: G. Radyński [handwritten signature].
À Messieurs de Rothschild frères, à Paris.
Translation:
Bank of Poland
No. 14522
Warsaw, June 1/13, 1861.
Dear Gentlemen,
The Bank has the honor to acknowledge its letter of the 12th of this month, which notified you of the issuance of a tracie [promissory note] in the amount of 407 francs 69 cents, payable in two months from presentation, on behalf of Messrs. P.F. Bonna and Company of Geneva.
The letter asks you to accept for the Bank's account such instructions as may be issued to you by Messrs. Avigdor the Elder and Sons of Nice for reimbursement of payments made under the circular letter of credit [letter of credit] in the amount of 5,000 rubles or its equivalent, which the Bank issued to Mr. Adolf Banzemer.
In lieu of the President, Secret Counselor to the Vice President, Actual State Counselor: Stanislaw Szemioth [handwritten signature].
Head of the Chancellery, Collegiate Counsel: G. Radynski [handwritten signature].
To the Gentlemen Rothschild Brothers, in Paris.
Document written on original Bank of Poland letterhead. At the top left, dry seal of the Bank. Original signature of Stanislaw Szemioth - vice president of the Bank of Poland. On the reverse , perfectly preserved and beautiful wax seal of the Bank of Poland, as well as the address (Rothschild Brothers, Paris) and postmarks.
A singular and unique correspondence of the Bank of Poland from the mid-19th century - highly recommended!
