3 Gulden Dutch Administration

The Algemeene Nederlandsche Maatschappij — known in French as the Société Générale des Pays-Bas — was established in 1822 under William I of the Netherlands as a state-backed holding company designed to finance industrial development across the United Kingdom of the Netherlands. It took on quasi-banking functions almost immediately, issuing notes that circulated in both the northern and southern provinces. This 1826 issue predates the Belgian Revolution by four years; when that revolution succeeded in 1830, the institution reorganized as the Société Générale de Belgique and effectively shed its Dutch administrative identity entirely.

Fleischman's engraving work for the Brussels press was competent rather than distinguished. The single treasurer signature from Mathieu reflects the note's administrative, rather than purely commercial, character.