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Banking in Medieval Societies
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<blockquote data-quote="kigmatzomat" data-source="post: 2110383" data-attributes="member: 9254"><p>Roman law covered lending and included limits on interest to prevent loan-sharking. </p><p></p><p>I'm fairly confident that banking has existed in every wealthy culture and in many smaller ones. I imagine the first incident of "modern" lending went something like:</p><p></p><p>"Hey Thag, lend me your club, would'ya?"</p><p>"I like my club, Grog. Why should I loan it to you?"</p><p>"I'm going saber-toothed rabbit hunting. Your club is bigger than mine."</p><p>"Yes, yes it is, thanks for noticing. You can borrow my club BUT....."</p><p>"But what?"</p><p>"But I get a haunch and your club if you break mine."</p><p>"Grrr, it's dirt-path larceny but here's my club."</p><p>"Thanks for your business. Would you like to open a money market account?"</p></blockquote><p></p>
[QUOTE="kigmatzomat, post: 2110383, member: 9254"] Roman law covered lending and included limits on interest to prevent loan-sharking. I'm fairly confident that banking has existed in every wealthy culture and in many smaller ones. I imagine the first incident of "modern" lending went something like: "Hey Thag, lend me your club, would'ya?" "I like my club, Grog. Why should I loan it to you?" "I'm going saber-toothed rabbit hunting. Your club is bigger than mine." "Yes, yes it is, thanks for noticing. You can borrow my club BUT....." "But what?" "But I get a haunch and your club if you break mine." "Grrr, it's dirt-path larceny but here's my club." "Thanks for your business. Would you like to open a money market account?" [/QUOTE]
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