{"title":"Between Usury and the “Spirit of Commerce”","authors":"F. Trivellato","doi":"10.2307/j.ctv3znx58.12","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.12","url":null,"abstract":"This chapter focuses on two moments: the reworking of the meaning of the legend of the Jewish invention of bills of exchange by Montesquieu in the 1740s and the debates on emancipation that occurred during the last quarter of the century. The discursive and political contexts in which the legend was evoked account for the vastly different meanings that it acquired at those two moments. Montesquieu praised Jews for forging new credit instruments that benefited everyone because he assumed that Jews inhabited a society of status that kept them in a subordinate position. When equality emerged later in the century as a concrete possibility, Jewish commercial and financial dexterity was once again perceived as a threat rather than a boon to state and society. While Montesquieu drew a sharp line between commercial credit and usury, the two were conflated once again during the emancipation debates, as they had been in Cleirac's commentary.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124814579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"ACKNOWLEDGMENTS","authors":"","doi":"10.2307/j.ctv3znx58.4","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.4","url":null,"abstract":"","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132649641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Coda","authors":"","doi":"10.2307/j.ctv3znx58.15","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.15","url":null,"abstract":"","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114460828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Back Matter","authors":"","doi":"10.2307/j.ctv3znx58.25","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.25","url":null,"abstract":"","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129714463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Setting","authors":"F. Trivellato","doi":"10.23943/princeton/9780691178592.003.0002","DOIUrl":"https://doi.org/10.23943/princeton/9780691178592.003.0002","url":null,"abstract":"This chapter examines the quotation claiming that Jews invented marine insurance and bills of exchange, which can be read from a compilation of maritime laws assembled with commentary by a provincial French lawyer, Étienne Cleirac, published in Bordeaux under the title Us et coustumes de la mer (Usages and Customs of the Sea). By adding bills of exchange to his commentary on marine insurance, Cleirac paired two credit contracts that by the mid-seventeenth century had become indispensable to long-distance trade and were handled by merchants of all sorts. By this time, marine insurance was no longer considered usurious. In contrast, bills of exchange continued to ignite fierce debates over usury. The ease with which bills of exchange could be passed from one person to another generated the erroneous but indelible impression that they were like paper money. However, unlike banknotes, they were not fully negotiable, nor were payers obliged to accept them.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"251 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128808231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Making of a Legend","authors":"F. Trivellato","doi":"10.23943/princeton/9780691178592.003.0003","DOIUrl":"https://doi.org/10.23943/princeton/9780691178592.003.0003","url":null,"abstract":"This chapter discusses Étienne Cleirac's commentary on the first article of the Guidon de la mer (The Standard of the Sea). In brief, he says that the Jews expelled from France invented marine insurance policies and bills of exchange in order to salvage their assets when fleeing to “Lombardy,” that is, to northern and central Italy. From there, Italian refugees exported the newly invented financial instruments north of the Alps, where bankers and moneylenders were called “Lombards,” a name eventually given to a public square in Amsterdam. Cleirac's merging of these spaces has the effect of tracing a direct line between fourteenth-century Lombards and seventeenth-century Amsterdam and makes pawnbroking appear contiguous with the most sophisticated forms of financial credit developed during the sixteenth century. This chronological compression is crucial to Cleirac's rhetorical strategy of making medieval Jewish moneylenders, the object of scorn and prejudice, interchangeable with the international merchant-bankers of the seventeenth century.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114273095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"5. One Family, Two Bestsellers, and the Legend’s Canonization","authors":"F. Trivellato","doi":"10.2307/j.ctv3znx58.11","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.11","url":null,"abstract":"This chapter studies Jacque Savary's Le parfait négociant, which was first printed in 1675 and was the manifesto of seventeenth-century French commercial society. A far more experienced and effective writer than Cleirac, Savary shared with his predecessor a commitment to setting new legal and cultural standards for private trade and finance. He repeated the fictional account of Jews' invention of bills of exchange while also streamlining and purging the seven relevant pages of Us et coustumes de la mer of their overt anti-Jewish language. After Savary's death, two of his sons published a massive dictionary of commerce, the first of its genre, which proved to be another bestseller of the ars mercatoria and disseminated the legend even further. Taken together, the complete works of the Savarys constitute the most articulate explication of the norms and ethos that infused the practice and politics of commerce under the reigns of Louis XIV and Louis XV.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134080224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Legacy that Runs Deep","authors":"F. Trivellato","doi":"10.2307/j.ctv3znx58.14","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.14","url":null,"abstract":"This chapter focuses on three giants of modern social thought: Karl Marx, Max Weber, and Werner Sombart. In their efforts to define what constituted modern capitalism and how it came into being, each proposed a different role for Jews. Although only Sombart transformed Jews into key actors in the genesis of Western capitalism, all three thinkers appealed to Jews to define how modern capitalism differed from earlier forms of commercialization. As part of this quest, Sombart proposed yet another version of the legend of the Jewish invention of bills of exchange, which figured front and center in his Die Juden und das Wirtschaftsleben (The Jews and Economic Life), a text that most economic historians justly dismiss but that has exerted an enormous, troubling, and—as of late—contradictory influence on the field of Jewish history.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125616410","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"INDEX","authors":"","doi":"10.2307/j.ctv3znx58.24","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.24","url":null,"abstract":"","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"1068 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122885678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Distant Echoes","authors":"F. Trivellato","doi":"10.2307/j.ctv3znx58.13","DOIUrl":"https://doi.org/10.2307/j.ctv3znx58.13","url":null,"abstract":"This chapter analyzes the echoes of the legend of the Jewish invention of bills of exchange beyond France up to 1800 and how they intersected with a variety of discourses about the morality of commercial credit. The legend that pointed to Jews as the creators of European private finance did not travel along confessional lines. Developed in Catholic France, the legend also appeared in England, the Reformed areas of the Holy Roman Empire, and the United Provinces. A lag of more than fifty years separates the legend's appearance in French and its circulation in other languages. Translations of works by the Savary family and Montesquieu were the legend's most influential vehicles of diffusion and transmutation. Most non-French versions of the legend, however, adapted the tale to make it palatable to new readerships. At the same time, an increasing number of writers challenged the legend's accuracy.","PeriodicalId":286179,"journal":{"name":"The Promise and Peril of Credit","volume":"2019 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132747972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}