This artic­le pro­vi­des the first in-depth account on the orga­ni­sa­tio­nal histo­ry of the Ber­lin Bour­se based on archi­val evi­dence. It demons­tra­tes that the micros­truc­tures of the Ber­lin Bour­se basi­cal­ly cor­re­spon­ded to the needs and acti­vi­ties of the lar­gest com­mer­cial banks and, con­se­quent­ly, argues that the­se lar­ge banks play­ed a ‘gate­kee­ping’ role in secu­ri­ties tra­ding. Moreo­ver, the Ber­lin exam­p­le per­fect­ly illus­tra­tes the clo­se ties which exis­ted bet­ween banks and finan­cial mar­kets and the resul­ting amal­ga­ma­ti­on of ban­king and stock-bro­king acti­vi­ties in impe­ri­al Ger­ma­ny. The com­pa­ri­son to the Lon­don Stock Exch­an­ge also shows that both stock exch­an­ges ful­fil­led dif­fe­rent eco­no­mic roles within the over­all finan­cial system.

Quel­le /​ Link: The Ber­lin Bour­se in the Lon­don mir­ror: An asym­me­tric com­pa­ri­son of micros­truc­tures and the role of Germany’s lar­ge banks in secu­ri­ties tra­ding, c. 1860–1914 

Wei­te­re Informationen:

“Geld-und Wäh­rungs­po­li­tik der Reichs­bank 1875−1914” von Mat­thi­as Wühle

Die Geld- und Wäh­rungs­po­li­tik der ers­ten Zen­tral­bank Deutsch­lands und ihre Lek­tio­nen für die Gegen­wart – Inter­view mit Dr. Mat­thi­as Wühle