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Entries
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Assignation Bank
Assignation Bank
Categories /
Economy/Finances and Credit
ASSIGNATION BANK, founded in 1769 at the same time as the Assignation Bank in Moscow to distribute banknotes and exchange them for metal coins. Backed by copper coins equal to 500,000 roubles, the bank could only distribute banknotes for the same amount. The increase in public expenses, mostly for military purposes, and the budget deficit made the government expand paper money heavily, which in the end led to devaluation. After putting banknotes for a total of 836,000,000 roubles into circulation, the bank had to stop issuing banknotes in 1817. The bank also accepted private deposits and granted loans from 1771. In 1786, the Assignation Banks of St. Petersburg and Moscow were merged into the State Assignation Bank, and the money was minted in the building of the Assignation Bank in Bankovsky Monetny Dvor (Bank Mint) in 1799-1805. The State Assignation Bank was liquidated in 1847 as banknotes were replaced with state notes during E. F. Kankrin's currency reform of 1839-43 making a silver rouble a basis of money circulation. The building of the Assignation Bank built by architect G. Quarenghi in 1783-90 instead of the burnt wooden Morskoy (Sea) Market is monument of High Classicism architecture. The central 3-storied building with the Corinthian order portico is located in the back of the front yard, with storerooms forming a horseshoe. The yard is fenced in along Sadovaya Street, with the cast iron fence standing on granite posts with spheres on top. The bust of Quarenghi was installed in front of the main facade in 1967. The fence from the side of Griboedova Canal Embankment by architect L. Rusca was erected in 1817; a second storey was added to the facade on the same side in the mid-to-late 19th century. The building now accommodates the University of Economics and Finances. References: Памятники архитектуры Ленинграда. 4-е изд., перераб. Л., 1975. С. 280-282; Петербург: История банков / Б. В. Ананьич, С. Г. Беляев, З. В. Дмитриева и др. СПб., 2001. A. A. Alexeev, V. S. Solomko.
Persons
Quarenghi Giacomo
Rusca Luigi (Aloisy Ivanovich)
Addresses
Sadovaya St./Saint Petersburg, city, house 21
Sadovaya St./Saint Petersburg, city
Bibliographies
Петербург: История банков / Б. В. Ананьич, С. Г. Беляев, З. В. Дмитриева и др. СПб., 2001
Памятники архитектуры Ленинграда. 4-е изд., перераб. Л., 1975
The subject Index
State University of Economics and Finances, St. Petersburg
Chronograph
1769
1790
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Bank Buildings (entry)
BANK BUILDINGS, public buildings designed for housing finance and credit institutions. The first special bank buildings were the Assignation Bank building at Sadovaya Street (1783-90, architect G
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Banks (entry)
BANKS, credit system institutions. St. Petersburg has been the central element of the system from the time it came into being through 1917. The first banks in Russia were founded on the initiative of the state and financed from the treasury
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Insurance companies (entry)
INSURANCE COMPANIES, financial and credit institutions, which deal with various kinds of insurance (life, real estate, personal estate insurance, etc.), the basic principle of which consists in compensating damages incurred by one person through
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Shuvalov Family
SHUVALOV FAMILY, nobles and counts (since 1746), known since the 16th century. I.I. Shuvalov was a favourite of Empress Elizaveta Petrovna's. His brothers were Alexander Ivanovich Shuvalov (1710-71), a Count (1746), statesman
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