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    Review of Banques Et Banquiers... by Raymond Bogaert

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    Claudia A. G. Da Silva
    This review summarizes Raymond Bogaert's book "Banques et banquiers dans les cites grecques" which examines the evolution of banking practices in ancient Greek cities. The review discusses how money changing tables evolved into more complex private and public banking systems. It outlines Bogaert's distinction between two types of public banks - those leased by individuals which sometimes held monopolies, and those established by cities and directed by elected magistrates to manage city finances. Examples of each type are provided from various Greek cities under Roman rule.

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    Review of Banques Et Banquiers... by Raymond Bogaert

    Uploaded by

    Claudia A. G. Da Silva
    45 views1 page
    This review summarizes Raymond Bogaert's book "Banques et banquiers dans les cites grecques" which examines the evolution of banking practices in ancient Greek cities. The review discusses how money changing tables evolved into more complex private and public banking systems. It outlines Bogaert's distinction between two types of public banks - those leased by individuals which sometimes held monopolies, and those established by cities and directed by elected magistrates to manage city finances. Examples of each type are provided from various Greek cities under Roman rule.

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    Review of Banques et banquiers... by Raymond Bogaert

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    This review summarizes Raymond Bogaert's book "Banques et banquiers dans les cites grecques" which examines the evolution of banking practices in ancient Greek cities. The review discusses how money changing tables evolved into more complex private and public banking systems. It outlines Bogaert's distinction between two types of public banks - those leased by individuals which sometimes held monopolies, and those established by cities and directed by elected magistrates to manage city finances. Examples of each type are provided from various Greek cities under Roman rule.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    45 views1 page

    Review of Banques Et Banquiers... by Raymond Bogaert

    Uploaded by

    Claudia A. G. Da Silva
    This review summarizes Raymond Bogaert's book "Banques et banquiers dans les cites grecques" which examines the evolution of banking practices in ancient Greek cities. The review discusses how money changing tables evolved into more complex private and public banking systems. It outlines Bogaert's distinction between two types of public banks - those leased by individuals which sometimes held monopolies, and those established by cities and directed by elected magistrates to manage city finances. Examples of each type are provided from various Greek cities under Roman rule.

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    Reviewed work: Raymond Bogaert. “Banques et banquiers dans les cites grecques”.

    Leyden, 1968. Review by: Anthony Macro, The American Journal of Philology¸vol. 91 no. 3
    (1970), pp. 349-352
    349: “what began as a money-changer's table (τράπεζα) evolved into a fairly complex and
    sophisticated agency for deposit and credit”. “the word τραπεζίτης is seen to have ranged in
    meaning from straightforward "money-changer" to "private banker," such as the successful
    Pasion, the preeminent figure in Athenian banking of the fourth century, and to "public bankers,"
    who in certain cities administered civic funds”. “although the Attic Orators provide ample
    information on banking practices at Athens and Piraeus, they have little or nothing to say of
    banks elsewhere”.
    350: “Clearly, therefore, one extrapolates at hazard”. “From early antiquity sanctuaries had
    provided facilities for the safe-keeping of precious objects; with the introduction of money they
    also accepted deposits of coin. These are what Bogaert calls "temple banks."”.
    351: “Bogaert distinguishes two categories of public bank (δημοσία τράπεζα): the one leased by
    an individual or a consortium from a public authority and holding a monopoly on the
    exchange market in the city; the other set up by a city and directed by one or more elective
    magistrates. Such an institution as the latter does not have a monopoly proper, but takes charge
    of all banking operations in which the city or one of its organs is interested. This is a most
    important differentiation: both types of bank were creatures of their times, though neither
    necessarily drove out the private banker who remained ubiquitous-at least until the third century
    A. D. As examples of the first type, Bogaert cites the concessionaire at Byzantium (ca. 527 B.
    C.-Bogaert agrees with van Groningen in accepting the date implicit in the text of Aristotle,
    Oec., II, 1346 b24-6); Diogenes' father's bank at Sinope (IV B. C.); then, after a lapse of four
    centuries, the banks at Sparta, Pergamum, and Mylasa under the Roman Empire. He argues that a
    monopolistic bank would be customary in oligarchical cities, which is exactly what the vast
    majority of the Greek cities under Roman domination were. The purpose of them was to secure a
    source of revenue for the city by the sale or lease of the monopoly of change and perhaps a
    percentage of the profits therefrom, as at Pergamum. The "State Bank," on the other hand,
    was to all intents and purposes a "Department of the Treasury" and worked in the interests
    of one
    352: client only-the State. Such banks as these belong in the Hellenistic Age; perhaps the earliest
    example was at Athens where one was established ca. 328 B. C., probably at Lycurgus' initiative.
    The rationale behind their creation was, in Bogaert's estimation, that the depositing of civic funds
    in private hands was insecure and unprofitable from the city's point of view”

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