"All men are there, Except Bontaro, barterers of 'no' rights as ply, For filthy lucre's sake, an ‘aye' becomes.” Money lending became a precise science, a fine art, a fraud, and a burlesque in turn. Men's wits were sharpened to gain money, honestly if it might be, by the practice of every conceivable artifice. The dignitaries of the Church were as keen as the laity to borrow, and to lend, with the sole view of their own ultimate benefit. If a Money-lender died, who had been known as a sharp fellow, sepulture was denied his remains, until a recompense had been paid to the bishop! Men were adjured to make honourable terms with heaven, before they came to their deaths, by handing over considerable sums, or property, to the safeguarding of those who held the Celestial keys! An appearance of respectability, and even sanctity, in Moneydealing was not unattainable. The nomenclature of the period presented reprehensible and doubtful transactions under pleasing cuphemisms, such as:-dono di tempo-quick returns, merito— -slight recompense, interesso-smart gain, cambio-tit-for-tat, civanza―unexpected profit, baroccolo-sly advantage, ritrangola— trifling advance on quotation, and so on.1 Sacchetti tells the story of one Sandro Tornabello, who had an extortionate love of money. Meeting an old creditor, who threatened to arrest him for the non-payment of an account, which had actually been settled by his father and of which no record had been kept, he paid a visit to his Notary, who advised him to let the man proceed against him in the ordinary course. When the legal official appeared to take him into custody, he proposed that he should pay him one-half the claim of three hundred gold florins, and obtain in exchange the quashing of the suit in the Podesta's Court ! 2 Boccaccio levelled many a cutting shaft of sarcasm at the monetary insincerities of his day:-Que e poca civanza e men guadagna, "He who steals a trifling benefit, thereby acquires an 1 Sacchetti, "Novelle," xxxii. vol. i. p. 136. 2 Sacchetti, "Novelle," lii. ample gain!" And he sums up his indignation in the expres sion-" Grossa usura!" 2 "That man," wrote Machiavelli, "will never be regarded as good who for the purpose of always making a profit from an occupation which he carries on proves himself rapacious, fraudulent and violent." 3 Constant efforts were made to restrain usurious interest. Unhappily they were usually rendered nugatory by the action of the Government, which aimed at extorting the highest possible rates from citizens who dealt directly with its officials. In 1420 usury, or,- -as we should now call it,-interest upon money, was so high and so arbitrary, that the State took steps to issue fixed rates and prices. One decree ordained that no more than five denari might be charged per lire per month. A banker's ledger of the year 1427 is still preserved. It belonged to the company of Guiliano di Nannino dei Bardi and Piero di Francesco Piccioli, and reveals the fact that the interest upon a capital of 2928 lire amounted to 878 lire a year-a rate of nearly thirty per cent.! A goldsmith, Oderigo da Credi by name, borrowed twenty lire for six months, and paid four lire interest thereupon, and in addition deposited his rich green doublet, lined with velvet, as a guarantee for the repayment of the amount! The exactions of Money-lenders,-whether licensed by the Guild, or uncovenanted operators in the Market, became at the end of the fifteenth century so excessive that not only was the State forced to issue repressive Provvisioni, but the forces of the pulpit were arrayed in violent opposition. Between 1430 and 1436,-when the city gates were once more opened to the Jews, the "Guild of Bankers and Money-changers' forbade all Money-lenders under its authority to ask more than four denari for a lira per month-a rate of twenty per cent. The extravagant way of managing the finances of the 1 Boccaccio, "Decamerone" Giorno i. Novella i. vol. iv., p. 42. 2 Giorno viii. Nov. x. vol. iii. p. 308. Republic gave the preaching friars, the Augustinians and Dominicans in particular,—much matter for vehement invective. They attacked the "Monte Comune," where the subscribers paid ten per cent. upon the valuation of their annual incomes. The mode in which this tax was levied pressed hardly upon the labouring and poorer classes. They, in their difficulty, turned for assistance to the Jews, who had become numerous in the city, and whose operations had escaped the notice of the authorities. The hardships which their exactions brought upon families in humble circumstances inflamed the zeal of a famous preacher at the end of the fifteenth century. Preaching in the church of Santa Croce, in the year 1488, Bernardino da Feltre raised his voice on behalf of the unfortunate citizens, and violently denounced the rapacity of the Jew money-lenders. He proposed the institution of a Pawn-shop, where the distressed and impoverished might receive just dealing. This proposition was carried out, but not until 1495, after Matteo Strozzi had led a raid against the Jews who were banished the city. Savonarola entered heart and soul into the contest between might and right. He espoused the people's cause and advocated the overthrow of the selfish and opulent oligarchism which threatened the liberties of Florence. His preaching had an immense effect, and led to the creation of two parties in the city-" Arrabbiati," the party of reaction, and "Piagnoni," the friends of reform. Through the influence of the Frate, the "Tribunale della Mercansia," which had become inoperative, was revived. He attained a position of unparalleled power, and ultimately inflicted great disasters upon the richer citizens, which entirely changed the conditions of Florentine business and society. The fame of the Florentine Bankers for brilliancy in financial operations, backed up by their reputation for honourable conduct, and equitable administrative ability, spread far and wide. Many States and Cities all over Europe called in members of the Guild to regulate public business and direct the issue of coinage. From |