6 Questions
What group is credited with originating modern banking practices?
Goldsmiths of England
What were the receipts issued by goldsmiths called?
Goldsmiths Notes
What did people leave with the goldsmiths for safe custody?
Large sums of money
What was the origin of the word 'bankrupt'?
The breaking of a Goldsmith's bench when failing to return depositors' money
What is the etymological origin of the word 'bank'?
Latin word 'bancus' or 'banque' meaning a bench
What did the London Goldsmiths use to transact their business?
Traditional benches in the market places
Test your knowledge of the history of modern banking practices with this quiz about the origins of banking and the role of goldsmiths in England. Explore the early safekeeping practices and the development of modern financial institutions.
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