The history of
banking began with the merchants of the world, who gave
grain loans to farmers and traders who carried goods between cities.
Over the years, lenders based in temples gave loans while
accepting deposits and performing the change of money. The
historical roots of the modern banking system trace back to medieval and
Renaissance Italy, particularly the affluent cities of Florence and
Venice. The loans are known to have been provided at some time at an annual
interest of 12%. Banks sometimes made loans available confidentially, which is,
they provided funds without being publicly and openly known to have done so. In
addition, they kept depositors' names confidential as well. This
intermediation per se was known as dia tes trapazēs, translated from
Latin as "God will trap you."
“The sins of blasphemy
equate to the ones who do not return the loans.” The moneylender looked to the
trader who had defaulted on the repayment. They had met at the moneylender’s
shop.
“Please, dear sir. Give me
some days to find my wares. The storm delays the ship. I promised you that I
would deliver my dues in double the interest of your entitlement. Have mercy on
me. Christian mercy we shall all share.
“Christian mercy? If I am to
shed a tear for every Christian who defaults in their payments, I could have
flooded Genoa to be the next Venice.” The moneylender glared at the trader. “I
hold the world but as the world, Gratiano; a stage where every man must play a
part, and mine is a sad one.” (Merchant of Venice, William Shakespeare).
“Christian charity, Sir.”
The trader pleaded.
“I am a Jew: Hath not a Jew
eyes? Hath not a Jew hands, organs, dimensions, senses, affections, passions?
fed with the same food, hurt with the same weapons, subject to the same
diseases, healed by the same means, warmed and cooled by the same winter and
summer, as a Christian is?” (Merchant of Venice, William Shakespeare).
“Perhaps I am not like any.
I am or was your better friend previously.” The moneylender looked to the
skies, as if Heaven would open its arms towards him. “I will hold onto your
Christian charity then. Give me double my fees in a week’s time, or I shall forfeit
your wares.”
“Oh God!” The trader was at
a loss for words. A hand was placed on his left shoulder.
“Stand, Antonio Meli. I,
Lord Gencio Capulet, will loan you the ducats to pay this … fiendish lender.”
The trader turned to look at the man who spoke. “Tell me of your loan.”
“I borrowed three hundred
ducats, and with the interest at twelve …” The trader was cut off by the
moneylender.
“Fifteen, for he had
defaulted by …”
“Here, take the ducats here.
It will add to the amount and with some extra for your blasphemy on our faith.”
Lord Gencio Capulet tossed the bag of coins to the moneylender. He pulled the
trader to his feet.
“The merchants helped each
other; if not, we will fall to the pits of their Hell.” Lord Gencio Capulet
looked at the lad standing by the moneylender.
“Your name, lad?” Lord
Gencio Capulet asked.
“Shylock, Matthew Shylock
Jud……”
“Are you any relation to
him? His son by blood?” Lord Gencio Capulet asked.
“I am his ...son.” Shylock
replied.
“Get a new trade. If you
follow your father, then Hell will invite you in with glee.” Lord Gencio
Capulet took to his way. Shylock was upset at the insult handed to his father.
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