What trend did Johan Palmstruch start in Europe? How successful was this trend?

http://en.wikipedia.org/wiki/Johan_Palmstruch

Johan Palmstruch, a Dutch merchant, is widely credited with starting the trend of issuing the first banknotes in Europe. In 1661, Palmstruch founded the Stockholm Banco, which later evolved into the Sveriges Riksbank (the central bank of Sweden). The bank started to issue banknotes as a means to simplify transactions and reduce the risk associated with carrying coins.

The trend of issuing banknotes was quite successful. With the introduction of banknotes, people no longer had to carry heavy bags of coins for their transactions. Banknotes were easier to handle, transport, and verify, which made commercial activities more efficient. The use of banknotes quickly spread across Europe, leading to the development of modern banking systems.

However, it is worth noting that the success of the trend also relied on public trust in the value of banknotes. The stability and reliability of the issuing banks were crucial for maintaining confidence in the currency. Over time, the adoption of banknotes became widespread, and they have now become the primary form of currency in most countries around the world.

To find this information, you can explore historical resources such as books, articles, or online databases that cover the history of banking and currency in Europe. Alternatively, you can visit the official websites of relevant central banks or reputable financial institutions, as they often provide historical information on the evolution of banking and currency systems.