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The Banco del Giro ( Venetian: ''Banco del Ziro''), also Banco Giro or Bancogiro, sometimes referred to in English as the Bank of Venice, was a public bank created by the
The Banco del Giro ( Venetian: ''Banco del Ziro''), also Banco Giro or Bancogiro, sometimes referred to in English as the Bank of Venice, was a public bank created by the Republic of Venice
The Republic of Venice ( vec, Repùblega de Venèsia) or Venetian Republic ( vec, Repùblega Vèneta, links=no), traditionally known as La Serenissima ( en, Most Serene Republic of Venice, italics=yes; vec, Serenìsima Repùblega de Venèsia, ...
. It was governed by a magistrate called the ''Depositario''.
History
An early proposal for a ''banco per Comune'', a public municipal bank that would complement the operation of Venice's private banks, was made to theVenetian Senate
The Senate ( vec, Senato), formally the ''Consiglio dei Pregadi'' or ''Rogati'' (, la, Consilium Rogatorum), was the main deliberative and legislative body of the Republic of Venice.
Establishment
The Venetian Senate was founded in 1229, or le ...
by Senator Giovanni Dolfin in 1356. A comparable proposal was made again in 1374 by a committee headed by Michele Morosini
Michele Morosini (1308 – 16 October 1382) was the Doge of Venice for a few months, from 10 June 1382 to his death in October the same year.
Born in one of the most important Venetian families, Morosini was extremely wealthy. Opinions about h ...
. In 1587 the Republic founded the Banco della Piazza di Rialto to allow easy transactions' settlement without handling of metallic money.
The ''Banco del Giro'' was established in 1619 and its administration was entrusted to the Senate, which appointed the ''Depositario'' from among its members. In 1637, the ''Banco di Rialto'' was merged into the ''Banco del Giro'' following financial difficulties.
The bank ceased its activity in 1800, following the fall of the Republic, and was finally liquidated in 1806 under the Napoleonic Kingdom of Italy
The Kingdom of Italy ( it, Regno d'Italia) was a state that existed from 1861, when Victor Emmanuel II of Kingdom of Sardinia, Sardinia was proclamation of the Kingdom of Italy, proclaimed King of Italy, until 1946, when civil discontent led to ...
.
Legacy
One of the ''sotoportego
Sotoportego (or sottoportego) is one of the characteristic elements of urban planning in the city of Venice.
It is a passageway that goes underneath a building. The sotoportego height typically equals to that of the ground floor. Oftentimes, the s ...
s'' of the Rialto Square is still known as ''Sotoportego del Banco Giro''.
See also
* Bank of Venice *Taula de canvi
The Taula de canvi ("Table of change" in Catalan), also Taula de cambi or simply Taula, was a type of municipal public bank that existed in the Crown of Aragon in the late Middle Ages and early modern period. The Taula de canvi of Barcelona, creat ...
* Bank of Saint George
The Bank of Saint George ( it, Casa delle compere e dei banchi di San Giorgio or informally as ''Ufficio di San Giorgio'' or ''Banco'') was a financial institution of the Republic of Genoa. It was founded in 1407 to consolidate the public debt ...
* Bank of Amsterdam
The Bank of Amsterdam ( nl, Amsterdamsche Wisselbank, lit=Exchange Bank of Amsterdam) was an early bank, vouched for by the city of Amsterdam, and established in 1609. It was the first public bank to offer accounts not directly convertible to co ...
* Hamburger Bank
The Hamburger Bank was a public credit institution founded in 1619 by the Free City of Hamburg. It operated independently until 31 December 1875, when it became part of the newly created Reichsbank.
History
The Hamburg City Council made the dec ...
Notes
{{finance-stub Former central banks 16th-century establishments in the Republic of Venice Economy of the Republic of Venice 1619 establishments Banks established in 1619