CONTINUITY IN THE PRIVATE BANIKR FIRE OF PRE-REVOLUTIONARY RUSSIA

Abstract

The article is devoted to the little-studied topic of continuity in the field of private banking in pre-revolutionary Russia. In the history of Russian banking, several dynasties of private bankers can be distinguished, such as the Wavelbergs, the Volkovs, the Gunzburgs, the Stieglitzes, and the Junkers. For two or three generations they owned large banking houses in St. Petersburg, Moscow, Warsaw and Paris. The family chronicles of the bankers Stieglitz, Feleizen and Wavelberg are taken as an example. The small number of banking dynasties is associated with the late emergence of private banking in Russia. The first banking offices appeared very late compared to Western Europe - at the end of the 18th - beginning of the 19th centuries. and lasted until 1917, approximately 120 years. Unfortunately, there is no data on how many banking houses there were in Russia during this time, presumably about a thousand. Some banking firms were inherited from father to son. However, few banking institutions were inherited in the third or fourth generations. Most banking houses, for various reasons, ceased their activities after the death of the founder or even during his lifetime. To conduct financial affairs, the necessary knowledge was required, and most importantly, abilities that the heirs did not always possess. Some of them preferred the life of a rentier or more prestigious and quiet official careers.