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It sets banking-and panics-in the context of more generalized and recurrent crises involving territorial wars, competition for markets, and debates over interest rates and the question of usury.

Frederic C. Lane and Reinhold C. Mueller, in the first volume of Money and Banking in Medieval and Renaissance Venice, discuss Venice's economic achievement in terms of the complex system the city's inhabitants developed to manage moneys of account and coins. Money merchants of Venice developed a system whereby a premium attached to moneys of account acted as a stabilizing force and allowed merchants to engage in long-term trade. This system, according to the authors, helped establish Venice as a dominant city-state in international trade and exchange. This book outlines the development and...