The republics of Italy during the Middle Ages were the home of finance, and had advanced far before the other states of Europe in wealth and civilisation. The necessities of the great countries of Europe, caused by the Crusades of the eleventh and twelfth centuries, were the opportunity of companies of moneylenders, who acted as the Pope’s collectors.
Before the close of the reign of Henry III. the Italians had gained a firm footing in England as merchants and moneylenders. Citizens of Sienna, Lucca and Florence came here, and fought with the Jews for the financial control of the country.
Matthew Paris relates that Roger, Bishop of London, anathematised the Caorsins and banished them from his diocese in 1235 in spite of the support of ‘judges that were servants (familiaribus) to the Caorsins, whom they had elected for their will.’[344]
In the early years of Edward I.’s reign, there were four companies of merchants of Sienna acting under the title of ‘Campsores Papæ.’ In his ninth year the keepers of the Exchange delivered £10,000 to Lombard merchants (as they are styled in the record) in part payment of sums they had lent to the King. It is recorded that between the twenty-third and twenty-seventh years of his reign Edward I. contracted a debt to the Friscobaldi alone of not less than £15,800.[345]
The King wanted much money for his wars, and, as he could no longer look to the Jews he was forced to apply for aid to the Italians. These loans grew so formidable that they caused considerable financial embarrassments in the reign of Edward II.
There were a large number of companies such as the Ricciardi, the Bardi, the Peruzzi, and the Spini, but the Friscobaldi, of which family there were several companies, occur most frequently in London history. Amerigo de’ Friscobaldi was constable of Bordeaux in the first year of Edward II.’s reign.
Here are two entries from the city records:—
‘14 Feb. 1299-1300.—Thursday after the Feast of St. Valentine came John de Pounteysse, goldsmith, and acknowledged himself bound to Faldo Jamiano, of the society of Frescobaldi, in the sum of £8 and 45d. sterling, to be paid at Easter next.’[346]
‘2 Feb. 1305-6.—Andrew le Mareschal acknowledged himself indebted to Bettinus Friscobalde and his partners, merchants of the company of Friscobaldi, in the sum of £102, 13s. 4d.’[347]