Banking Built Florence
The remnants of the past are still shown in the world today, many of them left unchanged. Medieval Guilds were one of the first attempts at grouping skilled laborers to accomplish a task. One of the most important guilds was the Banking Guild in Florence, Italy, which is largely responsible for the what the city and much of Europe is today. This guild ushered in a new type of architecture that was used for structures, funded famous and influential artists and scientists, and created a monetary system that was used throughout Europe. For these reasons the banking guild in Florence is largely believed to be one of the main reasons that contributed to the start of the Renaissance era.
One of the most visual changes in Florence …show more content…
After the black death epidemic ended, artists need to be sponsored by large groups and organizations. The Medici family was both the rulers and bankers of the city at the time, and decided to invest in the research of the arts. They financed Leonardo Da Vinci’s research into political, psychological, and scientific topics (Whipps). Many of his inventions were far from his time period, one that is used everywhere is the ball bearing, which is used to allow axles to move freely without resistance, all cars in the world are used with them (“Leonardo da Vinci's notebook”). Another famous artist that banking in Europe sponsored was Michelangelo. Michelangelo was one of the students who attended Medici’s are school, and was recognized there for his talent by Leonardo Medici, who guided him along his artistic career (“Michelangelo Buonarroti”). After being recognized he goes on to paint historically important works such as the paintings in the Sistine Chapel paintings. These paintings are great examples of the art in that time period. Another famous artist showcased by the Medici family was Sandro Botticelli. As a child he was trained by Filippo Lippi, a Medici artist. As he grew, his art work flourished and he was hired by the Medici to paint religious scenes. His very controversial paintings shows the radical style of the artist, using symbolism and inside jokes (“Sandro …show more content…
The Florin was created “After the bankruptcy of the Bardi and the Peruzzi” (“Money and Banks”). Without a stable economic system, Florence would not have been able to succeed in becoming the capital of Italy. Another important feature of the Florin is that there were “Florentine banks all over Europe [making] it the coin of choice for large scale transactions” (“Money and Banks”). By having many banks around Europe the florin expanded the range in which it could be used, making it more widely accepted. Finally, the creation of the Florin also created “the general ledger system of debits and credits, [and] the birth of the double entry accounting system” (“Money and Banks”). These techniques for banking helped to keep stability in Florence, as well as in highly industrialized banking areas such as America and Europe. These techniques are still used widely today to manage the banking process. The Florin was only in use for about 281 years, however it made a lasting impact on the