Unit 4 The Boy and the Bank Officer 现代大学英语课件.ppt

The Boy and the Bank Officer Background: Banks Banks first emerged in the Middle Ages when people grew tired of carrying around all their gold and began leaving their money with the goldsmith. The Medici family, one of the most prominent banking families in Europe during this time, became quite wealthy from its banking and money lending practices. This 14th-century painting depicts people depositing and withdrawing money in an Italian bank. Background: Banks HISTORY OF BANKS Functions performed by banks today have been carried out by individuals, families, or state officials for at least 4,000 years. Clay tablets dated from about 2000 BC indicate that the Babylonians deposited personal valuables for a service charge of one 60th of their worth. Interest charges on loans ran as high as one third. The widespread commerce of Rome required a well-developed banking system. Roman authorities set aside the Street of Janus in the Forum for money changers. These individuals not only bought and sold foreign coins; they accepted deposits, made loans, issued bills of exchange and bills of credit (similar to todays checks), and bought mortgages.  Background: Banks The Justinian Code of the 6th century AD included laws that governed the lending and trading in money. During the Middle Ages banking activities were curbed by severe restrictions on lending practices. But during the early Renaissance, as international trade revived, Italian money changers once again appeared. They did business in the street