Origin of The Word
The name bank derives from the Italian word banco "desk/bench", used during the Renaissance era by Florentine bankers, who used to make their transactions above a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times.
In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome – that of the Imperial Mint.
Read more about this topic: Commercial Bank
Famous quotes containing the words origin of, origin and/or word:
“There are certain books in the world which every searcher for truth must know: the Bible, the Critique of Pure Reason, the Origin of Species, and Karl Marxs Capital.”
—W.E.B. (William Edward Burghardt)
“High treason, when it is resistance to tyranny here below, has its origin in, and is first committed by, the power that makes and forever re-creates man.”
—Henry David Thoreau (18171862)
“Suit the action to the word, the word to the action, with this special observance, that you oerstep not the modesty of nature.”
—William Shakespeare (15641616)