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Discretionary Deposit
A discretionary deposit is the term given to a device by medieval European bankers as a method of circumventing Catholic canon law edicts prohibiting the sin of usury. At the time, most Christian nations heavily incorporated Biblical scripture into their laws, and as such it was illegal for any person to charge interest on a loan of money. The name comes from the workings of the device: a rich person would deposit a large sum with a bank. His name would be kept a secret (at the banker's "discretion"), as a discretionary deposit was seen as an obvious dodge around the charging of usury, and it would have embarrassed the Pope, cardinals, and various nobles and merchants who made use of this device. Every year, in gratitude for the personage's deposit, the banker would make the account a "gift", the exact amount of which would be at the banker's discretion. Of course, the gifts would work out to whatever the prevailing rate was, 8-12%, perhaps. Should a banker's "gifts" be too little ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle Ages
In the history of Europe, the Middle Ages or medieval period lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history. It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages. Population decline, counterurbanisation, the collapse of centralized authority, invasions, and mass migrations of tribes, which had begun in late antiquity, continued into the Early Middle Ages. The large-scale movements of the Migration Period, including various Germanic peoples, formed new kingdoms in what remained of the Western Roman Empire. In the 7th century, North Africa and the Middle East—most recently part of the Eastern Ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contractum Trinius
{{unreferenced, date=August 2013 A ''contractum trinius'' was a set of contracts devised by European bankers and merchants in the Middle Ages as a method of circumventing canonical laws prohibiting usury as a part of Christian finance. At the time, most Christian nations heavily incorporated scripture into their laws, and as such it was illegal for any person to charge interest on a loan of money. To get around this, a set of three separate contracts were presented to someone seeking a loan: an investment, a sale of profit and an insurance contract. Each of these contracts were permissible under canon law, but together replicated the effect of an interest-bearing loan. The way this procedure worked was as follows: The lender would invest a sum equal to the amount of financing required by the borrower for one year. The lender would then purchase insurance for the investment from the borrower, and finally sell to the borrower the right to any profit made over a pre-arranged pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medieval Banking
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 Common Era, BCE in Assyria, India and Sumeria. Later, in ancient Greece and during the Roman Empire, lenders based in temples gave loans, while accepting Deposit account, deposits and performing the Bureau de change, change of money. Archaeology from this period in History of China#Ancient China, ancient China and history of India, India also shows evidence of Loan, money lending. Many scholars trace the historical roots of the modern banking system to medieval and Renaissance Italy#Early Modern, Italy, particularly the affluent cities of Florence, Venice and Genoa. The Bardi family, Bardi and Peruzzi Families dominated banking in 14th century Florence, establishing branches in many other parts of Europe.Noble Foster Hoggson, Hoggson, N. F. (1926) ''Banking Through the Ages'', New York, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Terms
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Journal Of Economic History
''The Journal of Economic History'' is an academic journal of economic history which has been published since 1941. Many of its articles are quantitative, often following the formal approaches that have been called cliometrics or the new economic history to make statistical estimates. The journal is published on behalf of the Economic History Association by Cambridge University Press. Its editors are Ann Carlos at the University of Colorado and William Collins at Vanderbilt University. Its 2016 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a scientometric index calculated by Clarivate that reflects the yearly mean number of citations of articles published in the last two years in a given journal, as i ... is 1.101. References External links * {{DEFAULTSORT:Journal Of Economic History, The Economics journals Economic history journals English-language journals Publications established in 1941 Quarterly journals Cam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford University Press
Oxford University Press (OUP) is the university press of the University of Oxford. It is the largest university press in the world, and its printing history dates back to the 1480s. Having been officially granted the legal right to print books by decree in 1586, it is the second oldest university press after Cambridge University Press. It is a department of the University of Oxford and is governed by a group of 15 academics known as the Delegates of the Press, who are appointed by the vice-chancellor of the University of Oxford. The Delegates of the Press are led by the Secretary to the Delegates, who serves as OUP's chief executive and as its major representative on other university bodies. Oxford University Press has had a similar governance structure since the 17th century. The press is located on Walton Street, Oxford, opposite Somerville College, in the inner suburb of Jericho. For the last 500 years, OUP has primarily focused on the publication of pedagogical texts and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York University Press
New York University Press (or NYU Press) is a university press that is part of New York University. History NYU Press was founded in 1916 by the then chancellor of NYU, Elmer Ellsworth Brown. Directors * Arthur Huntington Nason, 1916–1932 * No director, 1932–1946 * Jean B. Barr (interim director), 1946–1952 * Filmore Hyde, 1952–1957 * Wilbur McKee, acting director, 1957–1958 * William B. Harvey, 1958–1966 * Christopher Kentera, 1966–1974 * Malcolm C. Johnson, 1974–1981 * Colin Jones, 1981–1996 * Niko Pfund, 1996–2000 * Steve Maikowski, 2001–2014 * Ellen Chodosh, 2014–present Notable publications Once best known for publishing '' The Collected Writings of Walt Whitman'', NYU Press has now published numerous award-winning scholarly works, such as ''Convergence Culture'' (2007) by Henry Jenkins, ''The Rabbi's Wife'' (2006) by Shuly Schwartz, and ''The Encyclopedia of Jewish Life Before and During the Holocaust'' (2002). Other well-known names publish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medici Bank
The Medici Bank (Italian: ''Banco dei Medici'' ) was a financial institution created by the Medici family in Italy during the 15th century (1397–1494). It was the largest and most respected bank in Europe during its prime. There are some estimates that the Medici family was, for a period of time, the wealthiest family in Europe. Estimating their wealth in today's money is difficult and imprecise, considering that they owned art, land, and gold. With this monetary wealth, the family acquired political power initially in Florence, and later in the wider spheres of Italy and Europe. A notable contribution to the professions of banking and accounting pioneered by the Medici Bank was the improvement of the general ledger system through the development of the double entry system of tracking debits and credits or deposits and withdrawals. Giovanni di Bicci de' Medici was the first Medici to enter banking on his own, and while he became influential in the Florentine government, it was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florence
Florence ( ; it, Firenze ) is a city in Central Italy and the capital city of the Tuscany region. It is the most populated city in Tuscany, with 383,083 inhabitants in 2016, and over 1,520,000 in its metropolitan area.Bilancio demografico anno 2013, datISTAT/ref> Florence was a centre of medieval European trade and finance and one of the wealthiest cities of that era. It is considered by many academics to have been the birthplace of the Renaissance, becoming a major artistic, cultural, commercial, political, economic and financial center. During this time, Florence rose to a position of enormous influence in Italy, Europe, and beyond. Its turbulent political history includes periods of rule by the powerful Medici family and numerous religious and republican revolutions. From 1865 to 1871 the city served as the capital of the Kingdom of Italy (established in 1861). The Florentine dialect forms the base of Standard Italian and it became the language of culture throughout Ital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand Deposit
Demand deposits or checkbook money are funds held in demand accounts in commercial banks. These account balances are usually considered money and form the greater part of the narrowly defined money supply of a country. Simply put, these are deposits in the bank that can be withdrawn on demand, without any prior notice. History In the United States, demand deposits arose following the 1865 tax of 10% on the issuance of state bank notes; see history of banking in the USA. In the U.S., demand deposits only refer to funds held in checking accounts (or cheque offering accounts) other than NOW accounts; however, in a 1970s and 1980s response to the 1933 promulgation of Regulation Q in the U.S., demand deposits in some cases came to allow easier access to funds from other types of accounts (e.g. savings accounts and money market accounts). For the historical basis of the distinction between demand deposits and NOW accounts in the U.S., see Negotiable order of withdrawal account#H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia and it is located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. Comprising the westernmost peninsulas of Eurasia, it shares the continental landmass of Afro-Eurasia with both Africa and Asia. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south and Asia to the east. Europe is commonly considered to be Boundaries between the continents of Earth#Asia and Europe, separated from Asia by the drainage divide, watershed of the Ural Mountains, the Ural (river), Ural River, the Caspian Sea, the Greater Caucasus, the Black Sea and the waterways of the Turkish Straits. "Europe" (pp. 68–69); "Asia" (pp. 90–91): "A commonly accepted division between Asia and E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cardinal (Catholicism)
A cardinal ( la, Sanctae Romanae Ecclesiae cardinalis, literally 'cardinal of the Holy Roman Church') is a senior member of the clergy of the Catholic Church. Cardinals are created by the ruling pope and typically hold the title for life. Collectively, they constitute the College of Cardinals. Their most solemn responsibility is to elect a new pope in a conclave, almost always from among themselves (with a few historical exceptions), when the Holy See is vacant. During the period between a pope's death or resignation and the election of his successor, the day-to-day governance of the Holy See is in the hands of the College of Cardinals. The right to participate in a conclave is limited to cardinals who have not reached the age of 80 years by the day the vacancy occurs. In addition, cardinals collectively participate in papal consistories (which generally take place annually), in which matters of importance to the Church are considered and new cardinals may be created. Cardina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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