The picture that emerges from descriptions by ancient
writers, particularly Demosthenes, underlines the
economic importance of banks; the risk involved in their
activities; and their hidden sources of capital. Nothing
in the Athenian economy was straightforward! Only a
handful of things could be placed chronologically with
certainty, and still fewer could become known to the
general public.
The bank played its part by putting up
credit in the shape of maritime loans. This was
very important for the financing of sea trade - a crucial
sector for a society based, as Athens was, on imported
grain. Via the bank, the identity of the
depositors - particularly those whose invisible incomes
financed maritime loans - was kept a secret. It
was precisely because bankers were noted for their high
moral fibre, that they were able to acquire large sums of
cash and put them to work.
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