A Treatise On Coins Currency And Banking With Observations On the Bank Act of

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George, at Genoa, in " process of time became so great that Machiavel says, "there was reason to apprehend that it would be- " come possessed of all the territories of that little " State. " Lord Liverpool also observes, p. 224, "that many " of the principal families in Italy derive their origin " and their ample fortunes from persons who once " exercised the trade of banking/' It is curious that Lord Bacon, who would fix the legal interest at 5 per cent. (p. 156), and would authorize under cer...tain conditions to lend at a higher interest, " certain persons licensed to lend to " known merchants upon usury, at a high rate, " adds, " let it be no bank or common stock, but every man " be master of his own money ; not that I altogether " dislike banks, but that they will hardly be brooked, " in regard of certain suspicions. " " Let these licensed lenders be in number inde- " finite, but restrained to certain cities and towns of " merchandizins:, " &c.
The Bank of Amsterdam was established in 1609.


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