Medici family

The House of Medici ( , ) was an Italian banking family and political dynasty that first began to gather prominence under Cosimo de' Medici, in the Republic of Florence during the first half of the 15th century. The family originated in the Mugello region of Tuscany, and prospered gradually until it was able to fund the Medici Bank. This bank was the largest in Europe during the 15th century and facilitated the Medicis' rise to political power in Florence, although they officially remained citizens rather than monarchs until the 16th century.

The Medici produced four popes of the Catholic Church—Pope Leo X (1513–1521), Pope Clement VII (1523–1534), Pope Pius IV (1559–1565) and Pope Leo XI (1605)—and two queens of France—Catherine de' Medici (1547–1559) and Marie de' Medici (1600–1610). In 1532, the family acquired the hereditary title Duke of Florence. In 1569, the duchy was elevated to the Grand Duchy of Tuscany after territorial expansion. The Medici ruled the Grand Duchy from its inception until 1737, with the death of Gian Gastone de' Medici. The grand duchy witnessed degrees of economic growth under the early grand dukes, but was bankrupt by the time of Cosimo III de' Medici (r. 1670–1723).

The Medicis' wealth and influence was initially derived from the textile trade guided by the wool guild of Florence, the ''Arte della Lana''. Like other families ruling in Italian , the Medici dominated their city's government, were able to bring Florence under their family's power, and created an environment in which art and humanism flourished. They and other families of Italy inspired the Italian Renaissance, such as the Visconti and Sforza in Milan, the Este in Ferrara, the Borgia in Rome, and the Gonzaga in Mantua.

The Medici Bank, from when it was created in 1397 to its fall in 1494, was one of the most prosperous and respected institutions in Europe, and the Medici family was considered the wealthiest in Europe for a time. From this base, they acquired political power initially in Florence and later in wider Italy and Europe. They were among the earliest businesses to use the general ledger system of accounting through the development of the double-entry bookkeeping system for tracking credits and debits.

The Medici family have claimed to have funded the invention of the piano and opera, financed the construction of Saint Peter's Basilica and Santa Maria del Fiore, and were patrons of Brunelleschi, Botticelli, Leonardo da Vinci, Michelangelo, Raphael, Machiavelli, Galileo and Francesco Redi among many others in the arts and sciences. They were also protagonists of the counter-reformation, from the beginning of the reformation through the Council of Trent and the French wars of religion.

History

The Medici family came from the agricultural Mugello region north of Florence, and they are first mentioned in a document of 1230. The origin of the name is uncertain. ''Medici'' is the plural of '' medico'', meaning "medical doctor". The dynasty began with the founding of the Medici Bank in Florence in 1397.

Rise to power

For most of the 13th century, the leading banking centre in Italy was Siena. But in 1298, one of the leading banking families of Europe, the Bonsignoris, went bankrupt, and the city of Siena lost its status as the banking centre of Italy to Florence.Strathern, p 18 Until the late 14th century, the leading family of Florence was the House of Albizzi. In 1293, the Ordinances of Justice were enacted; effectively, they became the constitution of the Republic of Florence throughout the Italian Renaissance. The city's numerous luxurious palazzi were becoming surrounded by townhouses built by the prospering merchant class.

The main challengers to the Albizzi family were the Medici, first under Giovanni di Bicci de' Medici, later under his son Cosimo di Giovanni de' Medici and great-grandson, Lorenzo de' Medici. The Medici controlled the Medici Bank—then Europe's largest bank—and an array of other enterprises in Florence and elsewhere. In 1433, the Albizzi managed to have Cosimo exiled. The next year, however, a pro-Medici Signoria (civic government) led by Tommaso Soderini, Oddo Altoviti and Lucca Pitti was elected and Cosimo returned. The Medici became the city's leading family, a position they would hold for the next three centuries. Florence remained a republic until 1537, traditionally marking the end of the High Renaissance in Florence, but the instruments of republican government were firmly under the control of the Medici and their allies, save during intervals after 1494 and 1527. Cosimo and Lorenzo rarely held official posts but were the unquestioned leaders.

The Medici family was connected to most other elite families of the time through marriages of convenience, partnerships, or employment, so the family had a central position in the social network: several families had systematic access to the rest of the elite families only through the Medici, perhaps similar to banking relationships. Some examples of these families include the Bardi, Altoviti, Ridolfi, Cavalcanti and the Tornabuoni. This has been suggested as a reason for the rise of the Medici family.

Members of the family rose to some prominence in the early 14th century in the wool trade, especially with France and Spain. Despite the presence of some Medici in the city's government institutions, they were still far less notable than other outstanding families such as the Albizzi or the Strozzi. One Salvestro de' Medici was speaker of the woolmakers' guild during the Ciompi revolt of 1378–82, and one Antonio de' Medici was exiled from Florence in 1396. Involvement in another plot in 1400 caused all branches of the family to be banned from Florentine politics for twenty years, with the exception of two.

15th century

Giovanni di Bicci de' Medici (c. 1360–1429), son of Averardo de' Medici (1320–1363), increased the wealth of the family through his creation of the Medici Bank, and became one of the richest men in the city of Florence. Although he never held any political office, he gained strong popular support for the family through his support for the introduction of a proportional system of taxation. Giovanni's son Cosimo the Elder, (father of the country), took over in 1434 as gran maestro (the unofficial head of the Florentine Republic).

Three successive generations of the Medici—Cosimo, Piero, and Lorenzo—ruled over Florence through the greater part of the 15th century. They clearly dominated Florentine representative government without abolishing it altogether.''The Prince'' Niccolò Machiavelli. A Norton Critical Edition. Translated and edited by Rober M. Adams. New York. W.W. Norton and Company, 1977. p. viii (Historical Introduction). These three members of the Medici family had great skills in the management of so "restive and independent a city" as Florence. When Lorenzo died in 1492, however, his son Piero proved quite incapable of responding successfully to challenges caused by the French invasion of Italy in 1492, and within two years, he and his supporters were forced into exile and replaced with a republican government.

Piero de' Medici (1416–1469), Cosimo's son, was only in power for five years (1464–1469). He was called "Piero the Gouty" because of the gout that pained his foot and led to his death. Unlike his father, Piero had little interest in the arts. Due to his illness, he mostly stayed at home bedridden, and therefore did little to further the Medici control of Florence while in power. As such, Medici rule stagnated until the next generation, when Piero's son Lorenzo took over.

Lorenzo de' Medici (1449–1492), called "the Magnificent", was more capable of leading and ruling a city, but he neglected the family banking business, which led to its ultimate ruin. To ensure the continuance of his family's success, Lorenzo planned his children's future careers for them. He groomed the headstrong Piero II to follow as his successor in civil leadership; Giovanni (future Pope Leo X) was placed in the church at an early age; and his daughter Maddalena was provided with a sumptuous dowry to make a politically advantageous marriage to a son of Pope Innocent VIII that cemented the alliance between the Medici and the Roman branches of the Cybo and Altoviti families.

The Pazzi conspiracy of 1478 was an attempt to depose the Medici family by killing Lorenzo with his younger brother Giuliano during Easter services; the assassination attempt ended with the death of Giuliano and an injured Lorenzo. The conspiracy involved the Pazzi and Salviati families, both rival banking families seeking to end the influence of the Medici, as well as the priest presiding over the church services, the Archbishop of Pisa,_and_even_ 708,_Pisan);_on_30–31_July_1716_[1717,_Pisan_and_on_31_J_...