Prior to ancient Rome banking was "imported" from Greece

As in Athens, the Roman bankers also have their establishments in the forum. In England, which became in the XVII century. most advanced industrial country, the first bankers were usually goldsmiths. Soon after in trade began to use gold, it became apparent that both buyers and merchants is inconvenient and dangerous every time when entering into transactions to transport, weighing and checking the purity of gold. So entrenched rule is to give gold to the storage of a goldsmith, who had basements or special storage rooms for a fee and can provide them. After receiving the gold contribution, goldsmith gave the depositor a receipt. Soon began to exchange goods on receipt of goldsmiths. Receipts, thus, became an early form of paper money. Paper money (receipts) in circulation, fully backed by gold. Seeing people's willingness to accept receipts as paper money, goldsmiths began to realize that gold, which is preserved in demand rare, bringing the number of weekly and gold, laid on a monthly basis, was greater than the amount that is withdrawn. Then some savvy goldsmith had the idea, the essence of which was that the issue of paper money may exceed the number of available gold. This goldsmith, and began to direct the excess paper money in circulation, giving a percentage of loans to traders, producers and consumers. Thus was born the banking system of partial reserves. If, for example, a goldsmith lend an amount equal to the amount of gold for the stored, the total value of money is twice as high as the price of gold and reserves amounted to 50% of the issued paper money. The world's banking system evolved during the evolutionary process, which lasted for several centuries. The first banks emerged in the late XVI-XVII centuries: for example, the merchant guild of some cities (Venice, Genoa, Milan, Amsterdam and others) have created a so-called zhirobank to settlement among its customers. The first joint-stock Bank of England was founded in 1694, and received from the government the right to issue banknotes. In the early stages of capitalist development there was no clear distinction between central (emission) and commercial banks. Commercial banks are widely practiced by issuing notes as a source of raising capital. As the credit system underwent a process of centralization of bank note issuance in a few large commercial banks, resulting in a monopoly right to issue bank notes was fixed at one bank. Originally this was called the bank of issue, or national, and in the future - the central bank (CB), which corresponded to its position in the credit system. Category: Klasifikatsiya real estate market