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Private Banking in EuropeRise, Retreat, and Resurgence$
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Youssef Cassis and Philip L. Cottrell

Print publication date: 2015

Print ISBN-13: 9780198735755

Published to Oxford Scholarship Online: September 2015

DOI: 10.1093/acprof:oso/9780198735755.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 July 2021

Instruments, Institutions, Centres, and Networks

Instruments, Institutions, Centres, and Networks

Developing the Structural Framework, c.1300–1700

(p.7) Chapter 1 Instruments, Institutions, Centres, and Networks
Private Banking in Europe

Youssef Cassis

Philip L. Cottrell

Oxford University Press

Chapter 1 examines the modern origins of private banking, from the rise of Italian banking in the late thirteenth and early fourteenth century to Amsterdam’s decline as a commercial centre during the early eighteenth century. This is a period when private banks, with some notable exceptions, had not yet gained a distinct identity. The focus is thus on Venice and Florence, Bruges, Antwerp, and Amsterdam—each being in turn for a period the continent’s leading mercantile and financial centre—and the networks of which they were the central nodes. But, the chapter also focuses on London, where formal banking functions grew out of other professions, especially scriveners and goldsmiths. Greater attention is paid to private banking than to private banks, in other words to the evolution of the instruments of mercantile credit, in particular the bill of exchange, and the emergence during the seventeenth century of a fully-fledged, formalized capital market at Amsterdam.

Keywords:   financial centres, commercial centres, bills of exchange, capital markets, Venice, Florence, Bruges, Antwerp, Amsterdam

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