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Old 05-08-2016, 01:38 PM
GreenWyvern GreenWyvern is offline
Join Date: Jan 2008
Location: Cape Town
Posts: 708
Even in medieval times there were bankers, goldsmiths, and wealthy merchants who dealt with financial business.

Letters of credit, bills of exchange, and promissory notes were used.

By the 17th and 18th century the system was quite sophisticated, and financial instruments could be traded, discounted for cash, used as collateral for loans, etc.