Bettina's mother, Gunda Brettano von Sevigny,
drawn by Ludvig Emil Grimm.
In November 1834, Bettina Schinas and her husband were planning to move from Nauplion to Athens with the new government. Schinas -- Bettina calls him "S" -- had a high appointment in the government, but just about the time he was able to propose marriage, he lost it in the rivalry between Armansperg and Maurer, two members of the regency council for King Otto. Schinas had earlier been a student of Maurer's in Munich, as well as a student of Bettina's father in Berlin. When Maurer had to leave Nauplion to return to Munich, Schinas lost his support and thus his income. Bettina is concerned for transferring and investing funds because her parents are currently providing their support.
In this letter she talks about the practicalities of money, and gives striking insights into the economic situation of the young country. Notice the variety of currencies and countries involved in the transactions.
* * * * * *
17 November 1834, Bettina to her mother:
There
is no doubt that investing money here is most profitable. Exchanging
the gold I got 22 Dr. 40 L. instead of 22 Dr. 33 L., a small profit.
I have 3 bills on very safe local houses to be drawn in case the
borrower cannot pay at a certain date. An expert and respected
merchant served us as consultant: he speaks Italian and can teach me
about all that is strange to me. A bill of 1200 Dr. borrowed for 2
months at 18 percent; a second of 1000 Dr. for 4 months at 12
percent, a third of 1500 Dr for 6 months at 12 percent.
Generally
house building is suggested. The government has specified rent
at 15 percent of a house’s value and generally it is expected to rise
in the future. If S. could get a position that included a residence,
a rental house would be perfectly profitable. At least could we rent
out a part of it as shop or storage. House building is very cheap and
ridiculously fast. So why doesn’t everybody build? Because there is
a huge lack of money and nobody can risk speculation. So what we don’t
need for our housebuilding we can invest in Athens very profitably at
the time being, but only for short periods so there will always be
money at our disposal -- mainly for the following reason: products of
the country like silk, butter, cereals are bought wholesale locally
and sold there to the small retail merchants within 2-4 weeks at a
very large profit. You give the wholesaler a certain amount and get
it back with profit after 2-4 weeks.
The
owner of Miaulis’ house, now an employee, made 1000 Scudi. profit
from 5000 Sc. and kept for himself besides the 1000 Sc. profit 600
Sc. for himself. This sounds fabulous to us but it happens here. I
don’t count on such strokes of luck but am expecting significant
interest earnings compared to German offers. But it is most difficult
to get money transferred here. Armansperg, Heideck and others of
these men cannot pay out because Eichthal keeps significant sums of
advance payments for future deliveries in his hands. There are no
other bankers here to handle the matter easily, correspondence via
Syra would be necessary or maybe Triest.
Now Heidenstamm offered
today to pay out ⅓ in 2 weeks, the second third in 6 weeks, the
rest in a bill of Rougemont in Paris, as in Paris business is the
fastest and most profitable. So I am asking father to do the adequate
steps at Rougemont as fast as possible. I will hardly draw the
complete rest of 16.000 Thaler as I will need it later for
housebuilding, to pay for beams, planks, doors and windows in Triest
where I will have to order them. I would take the rest just in case
the profit on money here is so significant that I might
better use it here for a certain time first. I also would appreciate
the opening of credits for me at Duthil Tichy or Höslin &
Springer. Please give me information about your steps as soon as possible, and be
sure I will accepts any of your advices with gratitude. I will inform
you exactly about my further experiences to help your decision
whether to invest here and trust my faithful management or not. This
is a new job for me, the good Lord who is preparing my whole fate
will give me the necessary understanding to all of it.
Just now I got a note that my silver box reached Customs. The
freight, insurance, etc. are 78 Dr. 18 L.; the cost of Customs I
don’t know yet. There is duty on the unprocessed pieces of linen,
as well as furniture, tea service, silver. Table linen, underclothes
(as processed linen), books, used pieces of bronze etc. are free.
Still the boxes from Ancona are not yet here.
The
end of the week Countess Armansperg will leave for Athens -- everyone else will leave in 2-4
weeks. I would have preferred to go there earlier with
S. to buy the plot, but it has been raining for the past two days and
in 8 days summer is expected back for several weeks like every
winter, so we wait for it in order not to sink into the mud climbing
up and down plots in uncobbled Athens. Heideck will bring me the plan
of Athens one of these evenings so I can benefit from his knowledge of
the terrain and get his much appreciated advice concerning the
healthy position of the plot etc.. He agrees with my thought to build
outside the town to have a garden and has a place in his mind which
is closer to the future royal palace without being in the center of
town, with a view of the sea, etc..
Foreground, Bettina's house outside Athens.
S.
wants to correct my information about the rent of 15 %: this is the
government’s suggestions, but private landlords are taking 50 - 60
%. We will probably move to Athens the end of February to be present
for the house building. Until then I will busily study Greek so I can share my thoughts with the very expert craftspeople without
an interpreter.
Heideck
says Schnikelich should come here because there is only one master
glazier in town for so many buildings, and he is doing nothing but
glass. If Schnikelich came he would have to travel via Trieste* to get
all the contacts concerning glass, complete windows, doors, floors,
shutters etc. so he could take over for them completely at
construction projects. With my experience here I want to add though
that a glass pane including insertion which costs in Berlin 8
Groschen is here only 80 L. Tell him so -- I don’t want to persuade
him though I believe he can earn good money here, specially with
gilding, paintwork, oil painting, varnishing etc. which partly is
done here very inadequately or partly even unknown.
*Bettina explained in an later letter, printed earlier here, that doors for the new houses were ordered ready-made from Trieste. This door industry make a splendid piece of research for someone.
Copyright © Brigitte Eckert 2011.