Simultaneously with the emergence of private lenders represented by trading houses and individuals engaged in commercial activities, there are state trade agents - in the Ancient East, they were called hangars. An important operation of the tammar was the sale and purchase of money in the form of metal ingots and their trade in other countries. The hangars could conduct business at the same time, both at the expense of the state and at their own expense. Over time, large hangars created their own trading houses: either they "lent" to the state, or they did not surrender all the proceeds, but had a permanent stock of money for current needs.
Temples and trading houses are the main feature of the origin of banking activity in the East. As for the West, in Ancient Greece, the appearance of trapezius was of great state and interstate importance (translated from Greek as "man at the table"). In ancient Greece, there were 33 cities where there were trapezius. By the end of the 5th century B.C. they had a specialization: some (trapezius) accepted deposits and made payments at the expense of clients; others (argiramois) were engaged in a changing business; the third - issued small loans, as a rule, on deposit. Having mastered the changing business to the greatest extent, trapezitians received high incomes, displacing argiramoisses. Trapezitians became professionals in their field.
In-state treasuries (depositories) the activity of monetary professionals was sharply limited, unified and local. For example, in Ancient Greece, they received and issued money - scientists, reported on income and expenses - flights, collected money - pharmacies, evaluated the correctness of the implementation of monetary transactions - logisticians, judicially resolved the issues of incorrect reporting - euphines, etc. The decentralization of monetary transactions within the state apparatus was logically acceptable and at best contributed to the emergence of state credit.
Banking began to stand out as a separate business activity. As well as for entrepreneurial activity, the presence of two functions is characteristic for banking: redistributive and public, public. The basis of monetary entrepreneurship was laid by the activities of the associations of Ancient Rome and the cities of medieval Italy. Their constant connection with the state, stimulation of accumulation of the monetary capital and strengthening of monetary system, mutual assistance to economic development of the nation - these are the directions of origin of monetary entrepreneurship.
Already in Ancient Rome in the conditions of considerable accumulation of money capitals which were forced by the state-directed on purchase of extensive ground possessions in private use. At the same time, the associations assumed the responsibility of collecting state taxes. Associations actively participated in the sale of goods from public tenders. The proceeds of the sale were recorded as a credit to the principal. The associations carried out hereditary cases, their members witnessed the conclusion of marriage contracts. The number of money shops was regulated by the number of agency members of the association. Other specialists (numularies) involved in the change of business had no right to conduct credit operations.
In the context of stable money circulation, the Roman associations actively used all previously known money transactions. The entrepreneurial basis of the activities of the Roman associations was constantly supported by the state. The joint actions of spiritual and secular authorities influenced the place and nature of credit relations. The Church acted as an interested aggregate creditor and the state as an interested aggregate borrower.
With the fall of the Roman Empire, a crisis of the monetary economy began, which was overcome with the flourishing of trade and industry in the major cities of northern Italy since the 9th century A.D. (Genoa, Venice, Florence, Milan, Siena, etc.). Thanks to certain privileges of the city authorities, the first Italian associations were able to stand out and gain leading importance in the economy of these cities. At that time, the associations became the guarantor of the attraction of funds and their use in the interests of the cities, which strengthened the responsibility to society and determined the level of trust in them. Since then, the stereotype of such activities as profitable entrepreneurship, which was aimed at maximizing profits, has been formed.
In the process of international trade development, credit money (promissory notes) began to appear. However, in Italian cities, the circulation of bills of exchange had a limited historical period. Thus, in Venice, the transfer inscription on the promissory note (endorsement) was prohibited since 1593. High mobility of Italian specialists in monetary operations, development of the peripheral network were promoted by the knowledge of changes in the promissory notes of all countries of the medieval world and their correct assessment.
To be continued the next part.