| Section 8: Banking evolves | Previous Section | Main Menu | Next Section |
| Merchants and goldsmiths developed a system that used intangible money for the first time. Goldsmiths could accept deposits, transfer claims, and make loans without valuables ever leaving the vault. | |||
| Early checks were similar to our checks today | Goldsmiths were able to start lending money | ||
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| The De Medici Bank was one of the first great private banking houses | |||
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| The Bank of England was an early central bank | |||
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| These coins could stay put | |||
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