During the period of 1300 - 1450, Florence was known as the “birthplace of the Renaissance” due to its prosperous culture, art, architecture, and wealth. First originating as a western European territory and later an independent city-state, it grew to be one of the largest maritime trade centers during the 10th Century. Due to the its autonomy as a chartered city, Florence experienced a dramatic increase in wealth and commercial activities, coupled with economic reforms. Despite this, the focus on arts and architecture persisted throughout much of Florence’s history.

Along the times of the Renaissance era, Florence developed into a wealthy city due to many factors. Fortunes were made through the banking and finances industry, and Florence became the primary banking center of Italy. The Medici family, who ruled as the dominant family in Florence beginning in the 14th century, ran a large bank that expanded to other major cities in Europe. They loaned money and operated other commercial activities as well. Merchants and textile industries also thrived in Florence. Unfinished inferior wool was purchased from England, Iberia, and northern cities, where it was then dyed and finished by Florentine textile workers who spun it into high quality …show more content…
The Catasto was the result of Florence’s new finance experiments. The Catasto was a new taxation system that helped the Florentine government raise its revenues; it was decreed by the government as an entirely new tax system that applied to the citizens of Florence. The newly developed taxation system came to be in 1427, in which there was a crisis of Florence’s wars with Milan. The Catasto became a tax system that was well-advanced over many other states during this time period. Elio Conti, a scholar, describes the Catasto as “a source of extraordinary richness and