Lodovico Capponi: A Florentine Banker and a Lending Transaction in 16th Century Florence

Cardinal Armellino, to loan money for the papal funeral and to fund the empty see.[1] During this time, the Apolisitic Chamber owed a total of 297,000.[2] Together with a handful of business partners, they offered up the sum of 27,000 ducats. During this time, the Apostolic Chamber owed a total of 297,000 ducats.[3] This shows that this shows that this one loan of 27,000 ducats was an incredibly large sum, almost ten percent of the Vatican's total debt. Although quite large, the debt was finally settled three years later by Pope Clement VII. Blurred distinctions between banking families, money, and lending institutions make it difficult to complete a conclusive study of economics in 16th century Florence. The term "bank " and "family " were used interchangeably, as well as coin denominations, such as "ducats " and "scudi. " Years of detailed research on individual account books would be needed to construct a reasonably complete economic history for this era. However, much can be learned by examining individual transactions, like the ones that involved Lodovico Capponi and the executers of the estate of Pope Leo in 1521. In the paper that follows, Lodovico's life as a merchant-banker is outlined; some light is shed on the role of lenders, collateral, and interest in Italy; and the overall economy of Florence at the beginning of the 16th century is analyzed by looking at these lending transactions. Much less attention has been devoted to the economic condition of the Florentine upper classes than to their cultural life. Without data for large numbers of individual families, it is difficult to come to satisfying conclusion