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Usachev V.A., Kolosovskaya I. I.

Donetsk Nation University of Economics and Trade named after Mikhailo Tugan-Baranovsky

EMERGENCE AND DEVELOPMENT OF BANKS

It is quite difficult to define, how and when there were first banks. Operations on preservation of money are considered as the most ancient. It is known that else operations practised in the most ancient states on reception of deposits. Were engaged in it either individuals, or church establishments. So, the well-known Greek temples (Delphic, Efsssky) were at the same time and peculiar banking institutions. And in certain cases already in the Ancient world percent on the brought money or property were charged.

Many temples of Ancient Greece and Rome carried out storage of money and issue of loans. Stability of a temple economy was based on the trust which has developed by eyelids as from the state, and a community. Rather high stability of a temple economy served as an important condition of maintenance of monetary circulation, promoted consolidation and continuous carrying out by temples of monetary operations. As a universal equivalent during historical development there was a silver and gold. Temples made the main monetary operations, promoted origin of credit operations, carried out settlement cash operations, improved a payment turn. Growing public division of labor, isolation of crafts and crafts increased number of commercial transactions and payments. In the presence of commercial risks and difficulties concentration of monetary stocks was necessary. It became possible at creation of "trading houses". The first banks — «business houses» received special development in the New Babylon kingdom (the VII-IX centuries BC) Among diverse functions which they carried out, were also purely bank: a receiving and delivery of deposits, granting the credit, the accounting of bills, payment of checks, the clearing settlement between investors, financing of domestic and foreign trade. Borrowers paid 20 % per annum, investors received 13 %. Many types of goods exchange operations were charged to slaves who were engaged in them within the separate states, temples, trading houses. Slaves provided mediation improvement in payments, stimulated growth of monetary accumulation and their concentration.

Separately there was a need for an exchange of money. In medieval Europe there was no uniform system of coins, trade was conducted by coins of the different states, the cities and even individuals. All coins had different weight, a form and face value. Therefore the experts understanding coins and capable messages an exchange were necessary. These experts settled down with the exchange tables in places of brisk trade. Therefore the word "bank" occurs from the Italian banco, meaning a table at which sat changed. Similar operations were carried out and much earlier in Ancient Greece, Rome, in the east. The people, being borrowed safe operations and an exchange of money, understood that collected riches are used unproductively, lie without movement. If at least a part of available means to give to temporary use, it is possible to receive essential benefit. So there were loan (credit) operations, at the heart of which ëåæà÷à transfer of money for term with obligatory return with percent payment. As pledge houses, the ships, precious things, cattle, slaves thus acted. As at one banker some people connected among themselves by mutual settlements could be served, gradually there was a need for carrying out operations on settlement servicing. Originally they were carried out as follows. Each investor in bank had the account in the form of the table with his name designation. In the table movement (arrival or an expense) money was reflected. If it was required to give money to other investor, there was no need to do it cash. All operations were carried out by the banker on a basis either oral, or the written order of the investor. Thus corresponding changes were brought in tables of the persons participating in mutual settlements. These elementary services formed the first forms of clearing settlements. All noted operations existed in the beginning is separate, but gradually they united within one organizations which we got used to call banks. In Western Europe transition process from primitive menyalny offices to banking houses occurred VXVI-XVII centuries. In medieval Western Europe functions of banks carried out monasteries. Business management level considerably lagged behind in the beginning antiquity. The official initial doctrine condemned usury. However soon the "lawful" bases for receiving percent were found. For this purpose was to issue the "free" loan for extremely short term (for example, for three months) enough, and further to take high percent, motivating it with "a loss poneseniye» or «profit non receipt». The percent on loans in the XII-XIV centuries fluctuated at very high level (40-60 %). Banking of modern type developed from activity changed. Menyala not only carried out an exchange of one coins for others and storage of values, but also promoted emergence of a monetary (bill) turn. The basis of monetary business was put by activity of associations of Ancient Rome and the cities of medieval Italy: they were constantly connected with the state a way of settlement and loan providing the last, stimulated accumulation of the monetary capital by increase in gold reserves, withdrawal from the address of metal coins of foreign production, let out supplementary papers for commercial transactions, carried out internal reassessment of a national coin instead of restamping, carried out payments for the third parties, conducted taxation and taxes. Associations became the guarantor of attraction of money and their uses in interests of the cities. At the beginning of the XV century there was the first bank of modern type — St. George's Bank in Genoa. In Italy there was also a double record of accounting. In the XVI-XVII centuries merchant guilds North Italian and a number of the German cities create special zhirobanka (from ital. giro — a circle, a turn) which carried out clearing settlements between regular customers metal coins and papers replacing them. Metal monetary circulation had considerable shortcomings: regular receipts of precious metals were necessary for compensation of a stock of coins, gold money extremely isn't elastic according to the offer in view of limitation in the nature and big costs of production; gold mining also didn't increase neither productive, nor personal consumption. In the XVII century the bill gains property of negotiability and there are first banknotes.