This paper deals with the significance of the early modern system of personal loans at the time of the foundation of the first savings banks. This examination is of specific importance: On the one hand, an examination for the German area does not exist. On the other hand, research has not made a connection between the new-founded institution and the already existing credit systems while analysing the foundations of the first savings banks. For an adequate research of the history of savings banks it is therefore necessary to analyse the already existing basis, and to consult it later for the evaluation of the foundations of savings banks.
The research paper led to the following results: Due to a lack of financial safety, the system of personal loans for early-modern man often provided an indispensable means of a safe existence and was used by many. For the population those affairs where therefore matters of everyday life. For the analysis and evaluation of the foundations of the first savings banks the following must be considered: the foundation of savings banks did not necessarily mean the creation of new prospects for the population. The structures were already at hand and facilitated the incorporation of new institutions as well as augmented the use in terms of quality. With regard to administration the new institutions were of great importance: the transactions were now overseen and administered by a central institution. Basically, the system was thus more transparent than the early modern system of personal loans.
To read the full research paper (.pdf)
STURM (Beate)(2005): The Early Modern System of Personal Loans as a structural basis for the first foundations of Savings Banks. 1st Prize Award Winning Manuscript Edition 2005.