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The Virginia Gazette
Richmond, Williamsburg, Richmond County, Virginia
What is this article about?
Amsterdam magistrates approve provisional advance of two million guilders from city treasury as loans on goods or bills at moderate interest to needy persons, funds to aid the poor of all religions. Managed by six commissioners, with merchants indemnifying the city for losses.
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"Our Magistrates have just now given a Proof of their wise Foreight, in allowing provisionally the Sum of two Millions of Guilders (about 80,000 l.) taken out of the City Treasury, to be advanced on Goods or good Bills, to such Persons as may be in immediate Want of Money, at a moderate Interest, which will be applied to the Use of the Poor of all Religions. The Administration and Direction of this useful Plan is entrusted to the Management of six Commissioners, and the principal Merchants have agreed to indemnify the City for any Loss that may accrue."
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Where did it happen?
Foreign News Details
Primary Location
Amsterdam
Event Date
Just Now, As Per Letter Received By Last Mail
Key Persons
Outcome
two million guilders advanced as loans at moderate interest for the poor; merchants to indemnify city for losses.
Event Details
Magistrates allow provisional sum of two million guilders from city treasury to be loaned on goods or bills to those in need, interest to benefit poor of all religions; managed by six commissioners, with merchants agreeing to cover losses.