During the unrest of the 1830 Belgian revolution, the Société Générale continued to operate, and became the state cashier to the new Belgian provisional government while remaining in that role for the United Kingdom of the Netherlands. However, the Société Générale refused to hand over the cash reserves of the United Kingdom of the Netherlands and wouldn’t submit to government supervision, leading to the establishment of a rival issuing institution, the Banque de Belgique (Bank of Belgium, BDB), on 26 February 1835, headquartered in Brussels under the direction of the former liberal minister of finance, Charles de Brouckère.
The Belgian government wanted to make the Banque de Belgique the state cashier, but that privilege remained with the Société Générale, which had that role since 1823.
On 17 December 1838, the Banque de Belgique closed its doors, having taken excessive risks in lending to achieve rapid expansion, and thus being unable to exchange its banknotes for coins. The bank was eventually rescued by a substantial government loan.
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During the unrest of the 1830 Belgian revolution, the Société Générale continued to operate, and became the state cashier to the new Belgian provisional government while remaining in that role for the United Kingdom of the Netherlands. However, the Société Générale refused to hand over the cash reserves of the United Kingdom of the Netherlands and wouldn’t submit to government supervision, leading to the establishment of a rival issuing institution, the Banque de Belgique (Bank of Belgium, BDB), on 26 February 1835, headquartered in Brussels under the direction of the former liberal minister of finance, Charles de Brouckère.
The Belgian government wanted to make the Banque de Belgique the state cashier, but that privilege remained with the Société Générale, which had that role since 1823.
On 17 December 1838, the Banque de Belgique closed its doors, having taken excessive risks in lending to achieve rapid expansion, and thus being unable to exchange its banknotes for coins. The bank was eventually rescued by a substantial government loan.
Catalog Detail
Legal Disclaimer
The prices listed in our database are intended to be used as an indication only. Users are strongly encouraged to seek multiple sources of pricing before making a final determination of value. CDN Publishing is not responsible for typographical or database-related errors. Your use of this site indicates full acceptance of these terms.
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