Venice's 1499 Banking Crisis (Part I - Failure of Garzoni Bank) - The Tontine Coffee-House
Various Italian city-states excelled in banking as it existed in 15th century Europe. In or around this period, Siena, Florence, Venice, and Genoa each were home to some of the largest European financial institutions of their day. Some lasted for over a century, others for only a small fraction of that time. Though the conditions of 15th century Europe may have been conducive to the survival and development of banking generally, they were not conducive to the survival and development of any singular bank. In Venice, two of the city’s largest banks failed in a 1499 crisis that almost destroyed the entirety of the city’s banking system. This is the first of a two-part series on Venice’s 1499 banking crisis, covering events leading to the failure of Venice’s largest bank. Venice was a major port city trading in spices, silk, and precious metals during the Late Middle Ages and Renaissance. From Venice, silver and copper from Austria and Hungary, along with other metals like tin
Various Italian city-states excelled in banking as it existed in 15th century Europe. In or around this period, Siena, Florence, Venice, and Genoa each were home to some of the largest European financial institutions of their day. Some lasted for over a century, others for only a small fraction of that time. Though the conditions of 15th century Europe may have been conducive to the survival and development of banking generally, they were not conducive to the survival and development of any singular bank. In Venice, two of the city’s largest banks failed in a 1499 crisis that almost…
saved by
related reading
- Dutch Bankers and Early American Credittontinecoffeehouse.com
- The banking crisis, two years latercomplexsystemspodcast.com
- Venetian Arsenal - Wikipediaen.wikipedia.org
- Italy in the Middle Ages - Wikipediaen.wikipedia.org
- Machiavelli is the most misunderstood thinker of all time – Ada Palmeryoutube.com
- A useful framework for understanding stablecoins: Banking history - a16z cryptoa16zcrypto.com
- Banking in very uncertain timesbitsaboutmoney.com
- Free banking - Wikipediaen.wikipedia.org
- The Hanseatic League: A 500-Year Trade Empire With No Stateworksinprogress.co
- List of recessions in the United States - Wikipediaen.wikipedia.org
- 1997 Asian financial crisis - Wikipediaen.wikipedia.org
- Issue 10: Venice Guide - Itineraries for 3 perfect days.existentialtravelagency.substack.com