Origin of The Word
The name bank derives from the Italian word banco "desk/bench", used during the Renaissance era by Florentine bankers, who used to make their transactions above a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times.
In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome – that of the Imperial Mint.
Read more about this topic: Commercial Bank
Famous quotes containing the words origin of, origin and/or word:
“For, though the origin of most of our words is forgotten, each word was at first a stroke of genius, and obtained currency, because for the moment it symbolized the world to the first speaker and to the hearer. The etymologist finds the deadest word to have been once a brilliant picture.”
—Ralph Waldo Emerson (1803–1882)
“Each structure and institution here was so primitive that you could at once refer it to its source; but our buildings commonly suggest neither their origin nor their purpose.”
—Henry David Thoreau (1817–1862)
“Fatalism, whose solving word in all crises of behavior is “All striving is vain,” will never reign supreme, for the impulse to take life strivingly is indestructible in the race. Moral creeds which speak to that impulse will be widely successful in spite of inconsistency, vagueness, and shadowy determination of expectancy. Man needs a rule for his will, and will invent one if one be not given him.”
—William James (1842–1910)