This attitude goes back to Switzerland’s founding in the 13th century. The original Swiss communities’ resentment of what they saw as the Hapsburgs’ oppressive taxes helped push them to claim their independence in 1291.

Today, Swiss citizens continue to vote on any tax increases in referendums (and sometimes even accept them). These healthy curbs on government contrast with the Orwellian concept of the “transparent citizen” whose every act is known to government. We see our system as a social pact between citizens and the state.

Swiss privacy laws help preserve basic property rights. Bank secrecy was introduced in 1934, most notably to protect the identities and assets of Jews in Nazi Germany. (Unfortunately, those same rules made it difficult for some heirs to gain access to these accounts without proper documentation, leading to an out-of-court agreement in 1998 by Swiss banks to pay $1.25 billion to settle Holocaust-related lawsuits.) Corruption, expropriation, crime and the persecution of various minorities remain risks in most of the world. For people threatened by such risks, financial privacy can protect their legitimate property.

Some would argue that Swiss bank accounts offer the same protections to criminals, but in fact Swiss provisions against money laundering are tough. Swiss bankers are required to know their clients and the origin of the funds they accept. They must alert the regulators if they suspect criminal behavior.

Banking confidentiality enjoys overwhelming support in Switzerland. According to the latest annual survey by the polling firm M.I.S. Trend, 78 percent favor maintaining the laws as they are, and 91 percent are shown to value their financial privacy. This is especially relevant since Swiss citizens are expected to vote eventually on the renegotiated tax treaties in a referendum.

If the government fails to convince a majority of voters, the treaties won’t enter into force. But if they are ratified as planned, the Swiss government should agree only to an exchange of information in individual cases with reasonable suspicion of tax fraud.

Other governments should see this as a fair compromise. We will not solve the global problem of tax evasion by punishing honest depositors and destroying Swiss traditions.