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Stamp

Issue

EFEMÉRIDES 150 Años de Historia. Banco de España 1856-2006

  • Issue date: 27/01/2006
  • Printing Process: Calcografía
  • Paper: Estucado engomado mate fosforescente
  • Size of stamp: 28,8 x 40,9 mm. (vertical)
  • Sheet effects: 50
  • Postal value of the stamps: 0,78 €
  • Print run: 1.000.000
  • Dented: 13 3/4

40120061

In order to commemorate the 150 years of the History of the Bank of Spain, a stamp is issued engraved in two colours. Although the Banco de España (Bank of Spain) took up this denomination in 1856, this bank dates back as far as 1782, with the foundation of the Banco Nacional de San Carlos following orders of King Carlos III. This was the first modern Spanish bank, predecessor of the current one, whose aim was to face the depreciation of the royal values ( a new form of public debt) . The Banco de San Carlos was under royal protection and could issue bank notes in determined periods of time. It also had to bear the burdens of the crown, involved for years in continuous wars, a situation which brought the bank close to bankruptcy. In 1829, the State decided to cancel its debt with the bank with a payment of 40 million reales which were used for creating a new bank called Banco Español de San Fernando. This bank was the only one allowed to issue bank notes until 1844, when two new banks were founded; The Banco de Isabel II, in Madrid and the Banco de Barcelona. The Banco de Isabel II concentrated on more risky and lucrative business, but the financial crisis of 1847 left the bank in such a complicated situation that the government decided to join it to the Banco de San Fernando, naming it Banco Español de San Fernando. After a series of reforms that turned it into the official Bank run by a governor, in 1856 it was definitely named as Banco de España. By then it could print bank notes together with other private banks and in 1874 it was given the monopoly for money printing. In 1994, and following the European Union treatry, the Banco de España became part of the European System of Central Banks. The bank building, located in the Plaza de Cibeles in Madrid, was inaugurated in 1891 and was built by architects Severiano Sainz de la Lastra and Eduardo de Adaro. In the stamp is depicted the corner of the last enlargement done lately by architect Rafael Moneo.

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