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110:(cashless transactions); acceptance of deposits with the accrual of interest on them; discounting of bills; loans for goods. Unlike the Assignation Bank, which was entirely state-governed, the State Commercial Bank included some prominent merchants on its governing board. Its deposits grew from 3 million rubles at the end of 1818 to 204 million by 1854.
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Before the establishment of the bank, Count Guryev presented a report to the
Emperor in the State Council, which outlined the main areas of activity of the future bank. It was assumed that the bank would carry out the following operations: storage of deposits in gold and silver bullion and in foreign
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issued until 1817 by the
Assignation Bank. A decree of 9 July 1843 ordered the creation of a State Credit Note Bureau in Saint Petersburg, which thus became Russia's note-issuing body from then until 1860. The deposit notes of 1840 were in turn redeemed with credit notes. Credit notes were in theory
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fully convertible into silver but in practice that could only be done at the Credit Note Bureau in the capital. The State
Commercial Bank's Moscow office was allowed conversion up to 3000 rubles, and in its other offices the maximum was 100 rubles.
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into a stand-alone institution. The
Council of State Credit Institutions was created simultaneously to oversee Russia's formal banking system, which at the time was entirely state-owned, and preparations also began for the reorganization of the
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The bank began its work with clients on 2 January 1818 (O.S.). The discount offices of the
Assignation Bank outside of Saint Petersburg were closed, and instead of them the State Commercial Bank opened offices in 1818 in
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98:. The main goal of the banking reform was to promote the strengthening of credit, which, in turn, could contribute to the development of agriculture, industry, and trade.
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had been undermined by inflation. Like the rest of Russia's state-owned banking system, it collapsed in the financial crisis of 1859-1860 and was succeeded in 1860 by the
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initiated a banking reform in Russia, and established the State
Commercial Bank as part of that effort by converting the Saint Petersburg discount office of the
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From the mid-1820s, the activity of the State
Commercial Bank was constrained by the policies of finance minister
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In the late 1850s, the financial situation in the
Russian Empire was severely affected by the aftermath of the
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370:"Government and Industry during the Ministry of Count Kankrin, 1823-1844"
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The former head office building of the State
Commercial Bank, lately the
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From 1840, as part of the monetary reform initiated by finance minister
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took over its offices and managed the protracted liquidation process.
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currency; transfers of cash deposits following the example of the
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263:"The State Bank of the Russian Empire Established - 12 June 1860"
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Bank of
Finland 200 Years: Imperial Cashier to Central Bank
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165:In 1822, the State Commercial Bank purchased the
267:Presidential Library of the Russian Federation
25:Saint Petersburg State University of Economics
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249:Central Banking before 1800: A Rehabilitation
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316:(32:4), Cambridge University Press: 869–893
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333:Banks, Credit, and Money in Soviet Russia
310:"Banking Under the Tsars and the Soviets"
285:Antti Kuusterä & Juha Tarkka (2011),
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16:Former public bank in the Russian Empire
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228:State Loan Bank of the Russian Empire
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173:to make it its branch in the city.
416:. You can help Knowledge (XXG) by
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51:Государственный коммерческий банк
37:, the bank's former Moscow branch
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211:State Bank of the Russian Empire
75:State Bank of the Russian Empire
61:. It opened on 1 January 1818 (
308:George Garvy (December 1972),
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85:In 1817, Minister of Finance
339:, Columbia University Press
314:Journal of Economic History
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368:Walter M. Pintner (1964),
251:. Oxford University Press.
468:Banks established in 1769
351:"State Museum of Vostoka"
330:Arthur Z. Arnold (1937),
65:), largely replacing the
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247:Ulrich Bindseil (2019).
223:Russian Assignation Bank
91:Russian Assignation Bank
463:Defunct banks of Russia
69:whose role as Russia's
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43:State Commercial Bank
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189:Georg Ludwig Cancrin
178:Georg Ludwig Cancrin
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150:, in 1846 in
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203:Crimean War
120:Arkhangelsk
55:public bank
473:Bank stubs
457:Categories
410:insurance
194:assignats
136:Astrakhan
63:Old Style
217:See also
207:bank run
81:Overview
53:) was a
355:ArtTube
160:Poltava
148:Kharkiv
144:Rybinsk
57:of the
47:Russian
171:Moscow
116:Moscow
404:This
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234:Notes
156:Irbit
124:Odesa
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408:and
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