On this day in 1401, Europe's first Central Bank, the Taula de canvi, began operations in Barcelona, Spain. The previous year, the city's Consell de Cent (roughly, "Council of 100") chartered such an institution in order to control and stabilize the city's fiscal policy and economy. While the Taula de canvi was much reduced in influence over the centuries, it remained in-operation until 1853 (at which point its remaining operations were absorbed into the newer Bank of Spain).
While a "Commercial Bank" serves the general public (holding customer's deposits and making loans for a profit), a "Central Bank" is usually a government institution which issues currency, regulates banking, and aims to create economic stability by managing monetary policy.
The handsome, cast iron lion bank, shown above, was made at the Turn-of-the-Twentieth-Century. It boasts the wonderful patina of time and still bears traces of its original golden paint. Click on the photo above to learn more about it.
Though our Greenwich Village store is now permanently closed, LEO Design is still alive and well! Please visit our on-line store where we continue to sell Handsome Gifts (www.LEOdesignNYC.com).
To arrange a visit our Pittsburgh showroom (by private appointment only), please call 917-446-4248.