Their reputation might have taken a hammering, but the first bankers in Derbyshire played a leading role in the county’s development. Roy Smith reports
THE ORIGINS of banking can be traced back to ancient times – even before the introduction of a monetary system. Transactions involving credit provided by traders and merchants and the use of paper money existed in the Chinese dynasty of 14BC under the Emperor Wu-Ti. The fall of the Roman Empire and controls, known as usary laws, imposed by the Church led to a general decline until the 12th century. At that time the Lombards, merchants based in Venice, Genoa and Florence, are credited with introducing the banking practice into Britain. Lombard Street in the City of London still has ties with banking dating back to medieval times…
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