Note 151 — LORENZO DI PIERO DE’ MEDICI

To obtain funds for the exchequer exhausted by the war against Milan in 1426 recourse was had to a curious financial scheme. A Monte, or special fund, was created for granting marriage portions to young men and maidens. Every contributor had the right to name a male or female child, to whom at the expiration of fifteen years a sum five times that subscribed was paid when they married. Should the nominee die the money became the property of the Monte. As far as I understand these Monti gradually developed into State pawnbrokers’ establishments.