Leendert Pieter de Neufville
Encyclopedia
Leendert Pieter de Neufville (Amsterdam
, 1729-1730 - (?)) was a Dutch banker in Amsterdam. During the Seven Years' War
he implemented a financial innovation
the so called "wisselruiterij". After the outbreak of peace in 1763 he could no longer meet his obligations and he went bankrupt. This also brought other banks into trouble, resulting in a confidencecrisis. The banks didn't want to give each other credit anymore. Spreading from Amsterdam an international banking crisis ensued, which extended to Germany and Scandinavia.
Amsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...
, 1729-1730 - (?)) was a Dutch banker in Amsterdam. During the Seven Years' War
Seven Years' War
The Seven Years' War was a global military war between 1756 and 1763, involving most of the great powers of the time and affecting Europe, North America, Central America, the West African coast, India, and the Philippines...
he implemented a financial innovation
Financial innovation
There are several interpretations of the phrase financial innovation. In general, it refers to the creating and marketing of new types of securities.- Why does financial innovation occur? :...
the so called "wisselruiterij". After the outbreak of peace in 1763 he could no longer meet his obligations and he went bankrupt. This also brought other banks into trouble, resulting in a confidencecrisis. The banks didn't want to give each other credit anymore. Spreading from Amsterdam an international banking crisis ensued, which extended to Germany and Scandinavia.