be the oldest paying bond in history?
this perpetual bond was issued in 1648 by a Dutch water
board, to finance improvements to a local dike system, it still pays interest to
this day, although not allowed out of the country, the bond is housed at
Yale’s Beinecke Rare Book & Manuscript Library, however a paper attached to the bond can leave and
interest be paid, Timothy Young, the library’s curator of Modern Books and
Manuscripts, has travelled to Amsterdam in the past to visit Stichtse
Rijnlanden, a Dutch water authority, and he collected 12 years of interest on the bond, collecting
the back interest maintains the bond’s status as a functioning artifact from
the Golden Age of Dutch finance. The water authority paid Young 136.20 euros in
interest, the equivalent of $153, for a fuller read of this fascinating
story have a look here.
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