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Portuguese public debt and financial business before WWI

Government, public finance, and public debt framed the historical background for exceptional financial business opportunities for Henry Burnay as a private banker and a network with Baring Brothers, Comptoir National d’Escompte, Banque de Paris et des Pays Bas, Neuflize et Cie., Crédit Lyonnais, Société Générale, Deutsche Bank, Bank fur Handel& Industrie, Dresdner Bank, M. Jacob H. S. Stern and the Deutsche Effecten & Wechsel Bank from Frankfurt. Nineteenth-century financial markets and public debt emerge as the main players in the game.

Credibility and honesty are important values for earning confidence and trust in international financial business, while bilateral-monopoly market situations required a lot of bargaining for joint profit maximization.

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Martin Svoboda
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