History
The State Bank was established on 12 June 1860 on the base of the State Commercial Bank by ukaz of Emperor Alexander II. This ukaz also ratified the Statute of the bank. According the Statute, it was a state-owned bank, intended for short-term credit of trade and industry.
In early 1917 the Bank had 11 branches, 133 permanent and 5 temporary offices and 42 agencies. On 7 November 1917 the State Bank was disestablished and was succeeded by the People's Bank of the RSFSR (until 1922) and State Bank of the USSR (until 1991). After the dissolution of the Soviet Union in 1991, a new central bank was established, Central Bank of the Russian Federation.
Read more about this topic: State Bank Of The Russian Empire
Famous quotes containing the word history:
“All things are moral. That soul, which within us is a sentiment, outside of us is a law. We feel its inspiration; out there in history we can see its fatal strength.”
—Ralph Waldo Emerson (1803–1882)
“Racism is an ism to which everyone in the world today is exposed; for or against, we must take sides. And the history of the future will differ according to the decision which we make.”
—Ruth Benedict (1887–1948)
“The history of the world is none other than the progress of the consciousness of freedom.”
—Georg Wilhelm Friedrich Hegel (1770–1831)