Bidspirit auction | [HISTORY] - Venetian Banking and

[HISTORY] - Venetian Banking and Hebrew Credit: Documents from the Banco del Giro (1704) - An ensemble of documents relating to the private affairs of the Valier-Vittori families, dated Venice, 1704, quoting the possibility of Pietro Vittori to demand and receive from the ‘Universita’ degli Hebrei’ any sum and quantity of money (as a loan), and in this case the sum of 1.500 ‘Ducati’, through the ‘Banco del Giro’. The ‘Banco del Giro’ was a ”public bank” established by the Republic of Venice in 1524 and existed until 1806, narrowly surviving the fall of the Republic itself. It was governed by a magistrate known as the Depositary. Following numerous bankruptcies among private bankers and the ongoing difficulties in overseas trade following the opening of the new Portuguese routes to the Indies, in 1524 the Republic decided to experimentally establish a publicly owned bank capable of guaranteeing the necessary liquidity to the Rialto market. Jurisdiction over the Banco Giro was placed within the purview of the Senate, which assigned its supervision to a senator with the title of ”Depositary, ” authorized to conduct banking activities under a monopoly regime. The ‘Banco del Giro’ quickly became the simplest and safest means of conducting commercial transactions; Anyone could open a cash deposit, of any size, which was recorded to their credit and to the bank's debit, without any additional costs and with the possibility of withdrawing the entire deposited sum, or the necessary portion, at any time. Folio (sheets 290x200 and 305x215), set of 11 leaves, lately bound. The present manuscript is sold with an export license from Italy.