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Essay's paper info
Topic: History
Number of pages / Number of words: 3 / 643
Essay's paper body

Money changers were soon holding and transferring large

sums of money and extending loans to merchants. As the demand increased, so did the number

of services. Common financial activities came to include granting loans, investing, as well as

most of the deposit, credit and transfer functions of a modern bank...


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As economic activity expanded, however, the papacy

became one of the first to insist that interest should be paid on investments made at a risk.

Because they were forbidden to hold land or engage in more "acceptable" sources of economic

enterprise, money changers in the Middle Ages were typically Jews...


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