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Johanna Borski-van de Velde

People that inspire me | 1814 - Restart dutch economy

March 16, 2023 Everyday Glamourous

Who was she?

Born in Amsterdam to flax (raw material of linen) merchant Johannes van de Velde and Bruna Jacoba Schouten. She married the Willem Borski (1765-1814) on 19 December 1790. A stockbroker, broker in funds and participant, among others with Hope & Co, in financial enterprises, including loans to Russia and Spain. Also he traded in rice and grain.

Together they moved to the house on the Keizersgracht 566 which they bought in 1809. Together they had 10 children to that died very young. Five daughters and three sons who lived to adulthood. Later they would also play a roll in acquiring good relations in the important dutch families.

When Willem is travelling, Johanna Borski looks after his business. In 1812 he is one of the richest inhabitants of Amsterdam. He has a house on Keizersgracht and in 1805 he buys the Elswout estate in the Kennemerduinen near Overveen.
When Willem Borski dies in 1814, his widow inherits a large fortune, six mansions in Amsterdam and the estate.

She continues her husband's business as the Firma Weduwe W. Borski, together with power of attorney Johannes Bernardus Stoop. She needs that, because as a woman she is not welcome on the Stock Exchange.

Saving the Netherlands

From 1609 to 1820, merchants could exchange foreign currency and settle payments at the Amsterdam Exchange Bank. The Exchange Bank did not provide credit. The Netherlands had suffered badly in the French era and a lender was needed to restart the economy. On March 25, 1814, Willem I signed the decree to establish De Nederlandsche Bank.
De Nederlandse Bank took on an important role as a credit institution to provide loans to businesses, but also became a bank of circulation, a bank that was given the right by the government to issue banknotes.

There is no confidence in this new bank and only 3000 shares were sold. The widow offers to buy the remaining 2000 shares for 2 million guilders. This way she saved the bank and King Willem I could setup loans to save the dutch economy. She bought the shares on the condition that King Willem I will not issue any additional shares in the first three years. As she expected, people gain confidence in the bank, so that the price rises and she can sell her shares with a big profit.

The Nederlandsche Handel-Maatschappij was a Dutch trading company established in 1824 by the King to promote and develop trade, shipping and agriculture to give the Dutch economy a boost. But after the Nederlandsche Handel-Maatschappij had been cornered in the course of the 1830s by involuntary advances to King Willem I, the firm Wed. W. Borski the company in 1840 made substantial loans against securities collateral. Johanna Borski took care of most of this for her personal account.
With a fortune of about four million guilders, she must have been one of the richest persons in the Kingdom in those years.
For the next 140 years the NHM developed a large international branch network and increasingly engaged in banking operations.

With her insight she saved two of the most important companies of that time. They helped the Dutch economy immensely and still exists today in some way or another.