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Railway Boom, the Big Banks, and the Ascent of Zurich as Financial Centre (1848–1914)

In: Switzerland and its Banks

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  • Nils Herger

    (Study Center Gerzensee)

Abstract

Industrialisation gave rise to far-reaching economic and social upheavals during the nineteenth century. For the banking sector, the new world of mass production required vast amounts of capital to build and maintain industrial mega projects, especially the railway network. Around the world, the resulting financial challenges paved the way for the establishment of large stock-traded financial firms that appeared under different names in different countries, including “crédit mobilier” in France and “investment banks” in the United States. In Switzerland, they are called “big banks”, and early examples that appeared after the mid-nineteenth century were the nuclei of multinational financial firms, such as UBS. Furthermore, Switzerland’s railway boom during this period was closely intertwined with the emergence of Zurich as a leading banking centre.

Suggested Citation

  • Nils Herger, 2023. "Railway Boom, the Big Banks, and the Ascent of Zurich as Financial Centre (1848–1914)," Frontiers in Economic History, in: Switzerland and its Banks, chapter 0, pages 61-73, Springer.
    • Handle: RePEc:spr:frochp:978-3-031-35904-0_5
    DOI: 10.1007/978-3-031-35904-0_5
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