A. D. 1 25 1. 399 



.-A 

 Tioufes In other parts of Italy, and even in foreign countries, and there- 

 by acquired great wealth. Many of them, having accumulated larger 

 capitals by their trade than could conveniently be employed in It, had 

 become dealers in money by exchange, and by borrowing and lending 

 upon Intereft * : and, by means of their partners, agents, or correfpond- 

 ents, in various parts of Europe, they appear to have got the bulinefs 

 of remittance by bills of exchange in a great meafure Into their own 

 hands. Their exteniive and profperous dealings enabled them to build 

 magnificent houfes or palaces, whereby Florence was fo much embel- 

 liflied, that it was reckoned the moft fplendid of the Italian cities : and 

 it alfo became fo powerful, that the neighbouring cities and dates came 

 in procefs of time to be fubjed: to it. 



The merchants of the other cities of Italy foon followed the Floren- 

 tines in their pradice of dealing in money as well as merchandize. They 

 extended their concerns, and eftabliflied houfes in France and alfo in 

 England, though King Henry forbad his fubjeds to borrow from any" 

 foreign merchants. [Rot. pat. 29 Hen. Ill, m 6.] In the beginning of 

 the thirteenth century the citizens of AftI, an Inland city of Piedmont, 

 had acquired great wealth in France and other countries, chiefly by 

 their dealings In money, and they foon became the mofl opulent of the 

 Lombard merchants. The fame bufinefs being alfo followed by the 

 citizens of Milan, Placentia f , Sienna, Luca, and the other cities in the 

 north part of Italy, it became ufual In France and in Britain to give the 

 appellation of Lombard J and Hujcan merchants to all who were engaged 

 In money tranflidlons. Thofe Italian merchants, difperfed throughout 

 Europe, became very convenient agents for the popes, who employed 

 them to receive and remit the large revenues they drew from every 

 country which acknowleged their ecclefiaftlcal fupremacy. It feenis 

 probable that they alfo employed them to lend their money upon in- 

 tereft, whence they are called by Mathew Paris \_pp. 419, 823, &c.] the 

 pope's merchants : and fome of the nobles of England, following the 

 pope's example, availed themfelves of their agency ' in fowing their 

 * money to make It multiply,' as Mathew Paris expreffes it. 



In England the foreigners, who made a trade of lending money, ap- 

 pear to have been known about this time by the name of Caurfini ; and 



* Muratori \_Ai>hq. V. i, d'^lf. i6] fays, tliey tif)', />. 376] which, nobody doubts, is derived from 



abandoned trade for the fake of the greater emolu- its being the refidence of Lombard merchants or 



ments arlfing from lending money. But, with fab- bankers, as it is ftill the chief refidence of the 



miffion to the erudition and judgement of that mgll bankers of London, there being yj'tvn/cra houfef, 



refpeftable writer, it is abfohitely impoffible in the or partnerdiips, of them (about a qu,uter of the 



nature of things, that interefl can ever be as high whole) in that one flreet, and a great proportion 



as the profits of trade, out of lahich the intereft of of the reft in the adjacent ftreets. But there feems 



borrowed money muft be paid. to be fcarccly any of the pofterity of the original 



\ See above, p. 367, a fum of money advanced Lombard, or Italian, bankers now remaining, if 



to King Richard 1 by merchants of Placentia. wc may judge by the names of the prefent part- 



\ At Icaft as early as the year 131R I^onibard nerfliips. 

 -ftreet in London had its prefent name, -{Sto-vS's Sur- 



