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Secretariat, Correspondence Files, The Creditanstalt, 31 series

Papers created and held by the Secretary's Department and Secretariat Department, including correspondence files, private letters and minutes of meetings. Files from the Secretariat Department 31 series concerning the Creditanstalt.

Secretariat, Correspondence Files, The Creditanstalt, 31 series, 1931-1936

000/1117, 46 boxes

Secretariat files, correspondence, reports and other papers relating to The Creditanstalt, 1931-1936 in the NMR 31 series: 31/1– 1/61. The papers in these files concern the response of the London bank, N M Rothschild & Sons to the Creditanstalt crisis.              

There are 61 packets of files in total, with many of the packets containing more than one file. The series is made up predominantly of correspondence sent to Lionel de Rothschild and relating to the activities of the International Committee, set up to look after the interests of the foreign creditor banks as well as to look for a solution to the Credit-Anstalt’s difficulties.  In addition there are some files giving details of shareholdings in the failed bank (31/21, 31/22, 31/25, 31/41, 31/42), copies of the formal agreements that were drawn up between the creditors, the Credit-Anstalt and the Austrian Government (31/5, 31/8, 31/9, 31/10, 31/11, 31/12, 31/13, 31/14, 31/15, 31/16, 31/17, 31/41, 31/46, 31/47, 31/48, 31/49, 31/50, 31/51, 31/52, 31/57, 31/58, 31/59) and Austrian newspaper cuttings (31/2).  One of the key documents is an edited typescript of the notebooks of Samuel Stephany from 1929-1931, possibly the work of Michael Bonavia, then a young Rothschild clerk. Later in 1931, he pro­duced a paper entitled, 'Collapse of the Credit Anstalt: economic background to the crisis' (31/45). A further file, 31/44, titled “The Story of Credit-Anstalt” provides a detailed account of the events that took place in the days immediately following the collapse and of the subsequent measures that were taken by NMR in conjunction with the other banks to deal with the unfolding situation. 

Further information about the Creditanstalt and these files will be found in the Vienna banking house, The Creditanstalt »