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Essay's paper info
| Topic: |
History
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| Number of pages / Number of words: |
3 / 643 |
Essay's paper body
Money changers were soon holding and transferring large
sums of money and extending loans to merchants. As the demand increased, so did the number
of services. Common financial activities came to include granting loans, investing, as well as
most of the deposit, credit and transfer functions of a modern bank...
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As economic activity expanded, however, the papacy
became one of the first to insist that interest should be paid on investments made at a risk.
Because they were forbidden to hold land or engage in more "acceptable" sources of economic
enterprise, money changers in the Middle Ages were typically Jews...
Essay fragment
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