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Dinesh

Dinesh club

Posted: 14 Aug 2013

Taken: 22 Mar 2008

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Michigan •
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The History of Money •
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A Bank

A Bank
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 Dinesh
Dinesh club
The modern word ‘bank’ comes from the way in which these early money merchants did business; it is derived from a word meaning ‘table’ or ‘bench’, the prop that literally formed base of their operations at the fairs. From Italian, the words ‘bank’, ‘banco’, and ‘banque’ soon spread into other European languages and eventually throughout the world.

Moneylending in some form or other seems to have been known for as long as there had been money, but the bank became something more than a moneylending institution, because the bankers dealt not so much with gold and silver as with slips of paper representing the gold and silver. Banking, as practiced by the Templars, faced a great limitation in that the church forbade usury, the charging of interest on loans, and getting around that barrier proved to be one of the greatest obstacles that the Italian families had to overcome in order to build their extensive banking enterprises. ~ Page 73
2 years ago.
 Dinesh
Dinesh club
The History of Money
2 years ago.

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