The Italian Banking Scandal of 1893 That Toppled a Prime Minister and Revealed That the National Bank Had Been Printing Duplicate Banknotes for Six Years
A Senate investigation in January 1893 found that the Banca Romana had been issuing duplicate-serial-numbered banknotes for six years to cover speculative real-estate losses. The director Bernardo Tanlongo and Prime Minister Giovanni Giolitti had concealed the audit. The scandal brought down Giolitti's government, eliminated five of six Italian banks of issue, and produced the Bank of Italy in 1893.
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