Johan Palmstruch (* 1611 in Riga; "† 1671) were a Swedish banker and the founder of the first European issuing bank. Thus Palmstruch is considered as an inventor of the paper money in Europe.

The Swedish government approved the establishment of an issuing bank to 1657 Palmstruch. It was the first bank of their kind in Europe. Starting from 1661 notes were spent, which were called Kreditivsedlar. Because the bank gave too many cash notes without precious metal covering to the circulation, it came to the inflation, so that the bank could not redeem the notes later any longer. Therefore Johan Palmstruch was only condemned to death, begandigt then however and condemned to a term of imprisonment. Only 1670, briefly before its death, he became from the prison to dismiss.

See also: Sveriges Riksbank, Palmstruch bank

Articles in category "Johan Palmstruch"

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• Johan Palmstruch - Wikipedia, the free encyclopedia
  Johan Palmstruch (born 1611 in Riga, died 1671; named Johan Wittmacher before he was ... however Palmstruch himself added two important innovations. ...


• Johan Palmstruch: Information From Answers.com
  Johan Palmstruch Johan Palmstruch (born 1611 in Riga , died 1671 ; named Johan Wittmacher before he was ennobled) was a Dutch merchant credited with.


• Reference.com/Encyclopedia/Johan Palmstruch
  Reference.com free online encyclopedia article for Johan Palmstruch, powered by Wikipedia.


• Stockholms Banco - Wikipedia, the free encyclopedia
  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 ...


• Stockholms Banco: Information From Answers.com
  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 ...


• Sveriges Riksbank: Information From Answers.com
  The Riksbank began its operations in 1668, its antecedent being Stockholms Banco (also known as the Bank of Palmstruch), which was founded by Johan ...