Tim Parks - Medici Money - Banking, metaphysics and art in fifteenth-century Florence

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The remarkable story of the Renaissance's preeminent financiers. "A swift and brilliant synthesis of finance, politics, and history."—Ben Sisario,
Their name is a byword for immense wealth and power, but before their renown as art patrons and noblemen the Medicis built their fortune on banking—specifically, on lending money at interest. Banking in the fifteenth century, even at the height of the Renaissance, meant running afoul of the Catholic Church's prohibition against usury. It required more than merely financial skills to make a profit, and the legendary Medicis—most famously Cosimo and Lorenzo ("the Magnificent")—were masterly in wielding the political, diplomatic, military, and even metaphysical tools that were needed to maintain their family's position.
In this brisk and witty narrative, Tim Parks uncovers the intrigues, dodges, and moral qualities that gave the Medicis their edge. Vividly evoking the richness of the Florentine Renaissance and the Medicis' glittering circle, replete with artists, popes, and kings, Medici Money is a brilliant look into the origins of modern banking and its troubled relationship with art and religion. 14 illustrations.

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Last Judgment (Memling), 179, 230 , 231

Last Judgment (Traini), 19

Lateran Church Council (1179), 10

Latin language, 185, 208–9, 221

Leonardo da Vinci, 225, 243

Leo X, Pope (Giovanni di Lorenzo de’ Medici), 221, 233–34, 236, 240, 243

Le Pin, Abbey of, 233

letters of credit, 6, 21, 25, 111, 135–36, 229–31

Life of Hannibal and Scipio Africanus (Acciaiuoli), 160

lily, as emblem of Florence, 17

Lippi, Filippo, 116, 133, 151

lira a fiorino , 36–37

literacy, 30

Lodi, Peace of (1454), 147

Logiati, Girolamo, 211

Lombardy, 142

London, 83, 113, 118, 197, 204

exchange deals between Italy and, 40–44

Medici bank branch in, 110–11, 114, 120, 179–83, 198, 232

population of, 7

trade between Italy and, 21–22

Lorraine, duke of, 244

Louis XI, King of France, 218, 229

Lucca, 89–90, 117, 120, 150

Luke, Saint, 11

Luther, Martin, 235, 243

Lyon, Medici bank branch in, 229–31, 232, 233, 239

Machiavelli, Girolamo, 104–6, 153

Machiavelli, Niccolò, 71–76, 78–79, 85–87, 90, 100, 140, 147, 157, 163, 193, 206, 224

Machiavelli, Totto, 42

Maddalena (slave), 63–64, 76

Madonna, 130

Magi, 116, 121, 128–30, 129 , 151, 168

magic:

art and, 130–31

money and, 34

“manifest usurers,” 31

Marco, Saint, 125

Martelli, Ugolino, 120

Martin V, Pope, 24, 25, 52–53, 59, 61, 67–68, 93

Masaccio, 74, 75 , 80

Masi, Matteo, 120

Mazzei, Lapo, 8

Medici, Antonio de’, 229

Medici, Averardo “Bicci” de’, 3, 8, 9–10

Medici, Averardo di Francesco de’, 83, 84, 98, 109, 111

Medici, Cambio d’Antonio de’, 8

Medici, Carlo de’, 63–64, 159

Medici, Clarice Orsini, 167, 178, 192–93, 201, 220–21, 239

Medici, Contessina de’ Bardi, 6, 52, 61, 111, 116, 162

Medici, Cosimo di Giovanni de’, 5, 6, 9, 17, 20, 24, 46, 61–152, 184, 185, 241, 242

as ambiguous figure, 86, 92, 103–9, 119–20, 121, 187–88, 246

arrest, exile, and return of, 94–100, 137, 138, 140

art and architecture commissioned by, 3, 56 , 58–59, 62, 84, 104, 105 , 108, 121–22, 124–30, 126, 129 , 151, 186, 225, 246

birth of, 3

Calderoni’s poem addressed to, 106–7

as collector, 119, 120, 232–33

death of, 3, 107, 153

education of sons of, 159–60

as gonfaloniere della giustizia , 140

gout suffered by, 119, 127, 150

humanist education of, 55, 159

humanists’ relationships with, 92–93, 108, 119, 121, 185–86

illegitimate child of, 63–64

imprisonment and exile of, 3

Medici bank headed by, 61, 64, 66, 73, 83, 91–92, 107–20, 149–50, 171–72

motto of, 63

name saint of, see Cosma, Saint

official cleansing of sins of, 11, 128

as partner in Medici bank, 39

personality of, 61–62, 108, 119

physical appearance of, 106

political power of, 3, 86–87, 106, 107–8, 137, 139–41, 143, 153–55

portrayed in religious paintings, 129, 129 , 151

princely ambitions of, 106, 160

as protective figure, 66

religious confraternities and, 62, 108–9, 116, 121

Rinaldo degli Albizzi’s victory over, 92–98

slaves of, 63–64, 86

in Ten of War committee, 86, 89, 90

title Pater Patriae awarded to, 3, 107

tomb of, 152

Medici, Damiano di Giovanni de’, 62, 91, 127

Medici, Filippo de’, 154

Medici, Francesco di Bicci, 20

Medici, Giovanni di Bicci de’, 2–3, 5, 7, 8, 9, 15, 19–20, 36, 54–55, 92, 159, 242

Albizzi family’s planned coup stopped by, 78

amount of bank profits taken by, 39

antiwar position of, 77

Bardi family and, 6

Bronzino’s portrait of, 27

death of, 84–85

early banking career of, 20, 22–23, 26, 55

elected head of Florentine government, 62

Giovanni XXIII and, 47–48, 51, 57

Medici bank founded by, 2–3, 11, 26, 38

Medici bank structured by, 48–51

retirement of, 38–39, 61

sons’ education and, 55

“stay out of the public eye” advice of, 3, 4, 27 , 28

Medici, Giovanni di Cosimo de’, 61, 64, 125, 149, 150–52, 159–60, 168, 169, 171

Medici, Giovanni di Lorenzo, see Leo X, Pope

Medici, Giovanni di Pierfrancesco, 219–20

Medici, Giuliano di Piero, 205–6, 211, 214–16, 229

Medici, Laudamia Acciaiuoli, 156, 157

Medici, Lorenzo di Giovanni, 20, 97, 156

death of, 125

exile of, 98

humanist education of, 55

as Medici bank partner and director, 39, 83

on political power, 87

Medici, Lorenzo di Pierfrancesco de’, 219–20

Medici, Lorenzo Il Magnifico de’, 5, 9, 165, 175, 180, 183–243

alum and, 190, 193, 198–99, 233

aristocratic aspirations of, 4, 203, 221–22

as art patron, 187

assassination plot against Giuliano di Piero Medici and, 206, 211–17, 219

birth of, 163

children of, 201, 208, 243

church incomes and, 233

as collector, 225

death of, 4, 241–43

education of, 163, 184, 189

excommunication and absolution of, 218, 223

Florence viewed as own personal work of art by, 208

gout suffered by, 4, 226, 240

humanism and, 206, 208

ignorance of banking declared by, 177

Il Magnifico title awarded to, 224

marriage of, 163, 167, 178, 192–93

Medici bank’s decline under, 4, 208, 213, 215, 218–20, 228–33

personality of, 203

physical appearance of, 189

as poet, 4, 184, 189–90, 191 , 193, 201, 209–10, 239, 241

political power of, 4, 199–200, 209, 225–27

ricordi of, 183, 201

role of prince played by, 183–84

sculptures of, 191 , 219

Volterra sacked by, 201–3

Medici, Lucrezia de’, 201

Medici, Lucrezia Tornabuoni de’, 162–63, 166 , 167, 168, 202

Medici, Maddalena de’, 208, 226, 233

Medici, Piccarda Bueri de’, 20, 162

Medici, Pierfrancesco de’, 156, 157, 164, 219, 231

Medici, Piero di Cosimo de’, 3–4, 61, 64, 125, 129 , 153, 165, 167, 190, 191

children of, 162–63

as collector, 160, 233

death of, 4, 177, 178, 183

ill health of, 3, 150, 151, 157, 163, 177

marriage of, 161–63, 168

Medici bank headed by, 156, 172–75

nickname of, 3

personal emblem of, 160

political education of, 159–60

political power of, 3, 155, 160, 163–67

principle of succession established by, 3, 153

Medici, Piero di Lorenzo de’, 243–45

birth of, 201

death of, 4

as “dumb son,” 243

flight from Florence of, 4, 9, 245

nickname of, 4

Medici, Silvestro de’, 7, 62

Medici, Vieri di Cambio de’, 20, 26

Medici bank:

alum affair and, see alum

Ancona branch of, 116, 117

Avignon branch of, 170, 232

Basle branch of, 113

branch directors of, 49–50, 170–71, 175, 177, 228

branch staffs of, 49

Bruges branch of, 114, 116, 120, 135, 174–77, 179, 197, 198, 213, 220, 228, 229, 231–32

condottiere and, 79

under Cosimo de’ Medici, 3, 61, 64, 66, 73, 83, 91–92, 107–20, 149–50, 171–72

debt bonds and, 81

decline and collapse of, 2, 4–5, 110, 167, 170–83, 208, 213, 215, 218–20, 228–33, 246–47

dry exchanges and, 46

Florence branch of, 49, 81, 83, 91, 94, 112, 171, 180, 217, 231, 232

foreign correspondents of, 42, 110, 114

founding of, 2, 11, 26, 38

Geneva branch of, 76–77, 91, 112–13, 115, 170, 175

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