Banker (ancient)

Source: Wikipedia, the free encyclopedia.

The banker of ancient times was employed within financial activities, during the ancient

ancient Roman
periods.

Mesopotamia

While certain families of Mesopotamia might be thought of as banking families, according to one source, these families' economic activities were not banking proper. This is because the families charged the same for loans as they gave in interest on deposits, so accordingly, their situation with foreign enterprises was one in which they did not participate in arbitrage, in addition to the absence of an economic situation where-by credit provision might increase the quantity of specie (i.e. coins) present with individuals. The House of Egibi were such a family, living during the Neo-Babylonian and Persian periods, and the House of Murashu were another, living at a time during the 5th century BCE. In addition to these two, the Borsippa based family, Ea-iluta-bani, were also active during the Neo-Babylonia time-period and later. All three families are classified as merchant bankers by Nemet-Nejat.[1][2][3]

Following the unification of the

First Babylonian Empire in the city of Shush, Iran.[5][6][7]

maturity date specified in written contractual terms. Laws 101 and 102 stipulated that a shipping agent, factor, or ship charterer was only required to repay the principal of a loan to their creditor in the event of a net income loss or a total loss due to an Act of God. Law 103 stipulated that an agent, factor, or charterer was by force majeure relieved of their liability for an entire loan in the event that the agent, factor, or charterer was the victim of theft during the term of their charterparty upon provision of an affidavit of the theft to their creditor.[8][9][10]

Law 122 stipulated that a

liability from a contract of bailment if the notary denied the existence of the contract. Law 124 stipulated that a depositor with a notarized contract of bailment was entitled to redeem the entire value of their deposit, and Law 125 stipulated that a banker was liable for replacement of deposits stolen while in their possession.[11][12][10]

Ancient Greek

Ancient Greek bankers were known as τραπεζίται (trapezitai), singular trapezites, a term which arose from their use of

notaries and the safe-guarding of valuables.[13][14][15][16][17]

At the earliest recorded time, trapezitai are known to have participated as private enterprise, who in the first instance were greatly reliant on business generated by money-changing activity, but also accepted deposits and made and took payments from individuals.[15]

Ancient Grecian bankers were in the first case

pawnbrokers, who were present in the marketplace or festival sites, changing the coinage of foreign merchants into local currency.[19]

Many early bankers in Greek city-states belonged to the metics. Money lending was very often an activity for foreigners living as so-called outsiders within society. Business and commercial activities were deemed wholly unsuited to the status and situation of the noble elite of society because these activities were a source of corruption, and instead funds, and accordingly wealth, was obtained primarily by way of militancy, not commerce.[1][20][21]

The task of keeping the deposited wealth provided to the temple of

Asklepios were allotted often to the neokoros or zakoros; or at Kos the hierophylakes, who were also the record keepers of such exchanges.[22][23]

It was an established pattern of behaviour for a banker in Athens, Aigina and elsewhere, in the interests of the security of the assets entrusted to him, to have his wife wed to his slave after his death, being that his slave had inherited his previous owners bank upon his death.[24]

Individual bankers

The first person to have participated in ancient society to some degree as a banker was named Philostephanos (of Corinth).[25]

A

Peiraieus, was for a time Athens' most important banker, after his manumission to the metic class. Pasion operated as a banker from 394 BC to sometime during the 370's. His business was subsequently inherited by his own slave named Phormio.[24][26][27][28][29][30][31]

Hermias was manumitted from Euboulos, and a eunuch, who is attested to have behaved subsequently toward the islands of Assos and Atarneus somehow tyrannically. His adopted daughter married Aristotle, the circumstances of this marriage arranged by Hermias himself.[24]

Ancient Roman

Main article: Banking in ancient Rome

Early bankers were known primarily as Mensarii, Mensularii and Numularii, or argentarii. Additionally to a lesser extent individuals involved in financial activities were known as coactores, coactores argenterii, collectarii, and stipulatores argenterii. Bankers operated from either appointment by the government and so were tasked with collecting taxes, or instead operated independently. Accordingly, Mensarii were distinguished from argenterii by the fact of the former operating under state assistance while the latter participating on the basis of private enterprise. Argenterii evolved to provide the function of credit provision on a short-term basis for individuals at auctions.[13][32][33][34]

Persons employed in the professional capacities of money-changing and assaying were known as argyramoiboi.[35]

According to Callistratus, females were barred from activity as bankers by Roman law.[36]

Individual bankers

L. Aemilius Papius, M. Atilius Regulus and M. Scribonius Libo were made a three mensarii commission during 216.[37]

See also

References

  1. ^
    ISBN 978-1400833580
    . Retrieved 2015-09-08.
  2. ISBN 9780313294976
    . Retrieved 2012-07-27. Egibi banking family.
  3. Farlex Inc
    [Retrieved 2015-09-08]
  4. ISBN 0-684-19279-9
    .
  5. ^ Louvre (n.d.). "Law Code of Hammurabi, king of Babylon". louvre.fr. Louvre, Department of Near Eastern Antiquities: Mesopotamia. Archived from the original on 5 December 2020. Retrieved 16 February 2021.
  6. ISBN 9780483463967
    .
  7. ^ Roth, Martha T. (1995). "Mesopotamian Legal Traditions and the Laws of Hammurabi". Chicago-Kent Law Review. 71 (1): 15–24.
  8. ^ Hammurabi (1903). "Code of Hammurabi, King of Babylon". Records of the Past. 2 (3). Translated by Sommer, Otto. Washington, DC: Records of the Past Exploration Society: 75–76. Retrieved June 20, 2021. 100. Anyone borrowing money shall ... a subsequent claim therefor.
  9. ^ Hammurabi (1904). "Code of Hammurabi, King of Babylon" (PDF). Liberty Fund. Translated by Harper, Robert Francis (2nd ed.). Chicago: University of Chicago Press. p. 35. Retrieved June 20, 2021. §100. ...he shall write down ... god and go free.
  10. ^ a b Hammurabi (1910). "Code of Hammurabi, King of Babylon". Avalon Project. Translated by King, Leonard William. New Haven, CT: Yale Law School. Retrieved June 20, 2021.
  11. ^ Hammurabi (1903). "Code of Hammurabi, King of Babylon". Records of the Past. 2 (3). Translated by Sommer, Otto. Washington, DC: Records of the Past Exploration Society: 77. Retrieved June 20, 2021. 122. If anyone entrusts to ... have committed an offence.
  12. ^ Hammurabi (1904). "Code of Hammurabi, King of Babylon" (PDF). Liberty Fund. Translated by Harper, Robert Francis (2nd ed.). Chicago: University of Chicago Press. p. 43. Retrieved June 20, 2021. §122. If a man give ... it from the thief.
  13. ^ a b Piotr Niczyporuk. Mensarii, bankers acting for public and private benefit. Central European Journal of Social Sciences and Humanities 2011. Retrieved 2015-08-30.(please see also the same source linked in full here)
  14. ^ Leonhard Schmitz (1875). A Dictionary of Greek and Roman Antiquities (p.130‑132). London: John Murray. Retrieved 2015-08-31.
  15. ^
    ISBN 9781847318664
    . Retrieved 2015-08-30.
  16. ISBN 9780486204307
    . Retrieved 2015-09-02.
  17. ^ H. Bolkestein - Economic Life in Greece's Golden Age published by E.J.Brill 1958 [Retrieved 2015-08-31]
  18. ^ Walter Ameling. "Trapezites". Brill's New Pauly. Koninklijke Brill NV. Retrieved 2015-09-06.
  19. ISBN 9780195123326
    . Retrieved 2012-05-28.
  20. ^ D T Engen. The Economy of Ancient Greece. Economic History Association. Archived from the original on 2006-05-02. Retrieved 2012-05-28.
  21. ISBN 0415127742
  22. ISBN 9004125787
    Retrieved 2012-06-09
  23. ISBN 0710003781
    Retrieved 2012-06-09
  24. ^
    ISBN 0691015929
    . Retrieved 2015-08-31.
  25. ISBN 1576078140
  26. ISBN 9780313387388
    . Retrieved 2015-02-12.
  27. ^ W Smith; W Wayte; G E Marindin, eds. (1890). A Dictionary of Greek and Roman Antiquities. London: John Murray. Retrieved 2012-06-15 – via Perseus of Tufts University.
  28. ^ R Osborne - Greek History Psychology Press, 6 Jul 2004 Retrieved 2012-06-15
  29. ISBN 1466926503
  30. ISBN 0887380662
    Retrieved 2012-06-15
  31. ^ T Amemiya - Economy and Economics of Ancient Greece Retrieved 2012-07-15
  32. ^ Leonhard Schmitz (1853). Dictionary of Greek and Roman Antiquities. C.C. Little and J. Brown. Retrieved 2015-08-30.(also shown here)
  33. ^ J W Gilbart (1834). The history and principles of banking: The laws of the currency, etc. G. Bell, 1866. p. 9. Retrieved 9 April 2012. Ancient banking.
  34. ISBN 9789047419129
    . Retrieved 2015-09-09.
  35. ISBN 0521389321
    [Retrieved 2015-09-03]
  36. ISBN 978-0472118434
    . Retrieved 2015-09-10.
  37. ISBN 978-1135093716
    . Retrieved 2015-09-01.
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