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The Banco del Giro (Venetian: Banco del Ziro), also Banco Giro or Bancogiro, sometimes referred to in English as the Bank of Venice, was a public bank created by the Republic of Venice. It was governed by a magistrate called the Depositario. [1]
An early proposal for a banco per Comune, a public municipal bank that would complement the operation of Venice's private banks, was made to the Venetian Senate by Senator Giovanni Dolfin in 1356. [2] A comparable proposal was made again in 1374 by a committee headed by Michele Morosini. [2] : 43 In 1587 the Republic founded the Banco della Piazza di Rialto to allow easy transactions' settlement without handling of metallic money.
The Banco del Giro was established in 1619 and its administration was entrusted to the Senate, which appointed the Depositario from among its members. [3] In 1637, the Banco di Rialto was merged into the Banco del Giro following financial difficulties.
The bank ceased its activity in 1800, following the fall of the Republic, and was finally liquidated in 1806 under the Napoleonic Kingdom of Italy.[ citation needed ]
One of the sotoportegos of the Rialto Square is still known as Sotoportego del Banco Giro. [4]
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Venice is a city in northeastern Italy and the capital of the Veneto region. It is built on a group of 126 islands that are separated by expanses of open water and by canals; portions of the city are linked by 472 bridges. The islands are in the shallow Venetian Lagoon, an enclosed bay lying between the mouths of the Po and the Piave rivers. In 2020, around 258,685 people resided in greater Venice or the Comune di Venezia, of whom around 51,000 live in the historical island city of Venice and the rest on the mainland (terraferma). Together with the cities of Padua and Treviso, Venice is included in the Padua-Treviso-Venice Metropolitan Area (PATREVE), which is considered a statistical metropolitan area, with a total population of 2.6 million.
The Republic of Venice or Venetian Republic, traditionally known as La Serenissima, was a sovereign state and maritime republic in parts of the present-day Italian Republic that existed for 1,100 years from 697 until 1797. Centered on the lagoon communities of the prosperous city of Venice, it incorporated numerous overseas possessions in modern Croatia, Slovenia, Montenegro, Greece, Albania and Cyprus. The republic grew into a trading power during the Middle Ages and strengthened this position during the Renaissance. Most citizens spoke the Venetian language, although publishing in Italian became the norm during the Renaissance, alongside Latin and Medieval Greek.
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The Great Council or Major Council was a political organ of the Republic of Venice between 1172 and 1797. It was the chief political assembly, responsible for electing many of the other political offices and the senior councils that ran the Republic, passing laws, and exercising judicial oversight. Following the lockout of 1297, its membership was established on hereditary right, exclusive to the patrician families enrolled in the Golden Book of the Venetian nobility.
Venice, which is situated at the north end of the Adriatic Sea, was for hundreds of years the richest and most powerful centre of Europe, the reason being that it gained large-scale profits from the adjacent middle European markets. Venice was the major centre of trade with the Arabs and indirectly the Indians during the Middle Ages. It also served as origin of the economic development and integration of the rest of Europe during the Middle Ages.
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The Republic of Venice was dissolved and dismembered by the French general Napoleon Bonaparte and the Habsburg Monarchy on 12 May 1797.
The savi del Consiglio dei Pregadi, also known as the savi grandi, were senior magistrates of the Republic of Venice.
The Republic of Venice organized its first formal public bank in 1587, the Banco della Piazza di Rialto. This followed earlier proposals and the steady collapse during the 16th century of the Republic's private banks. Another public bank, the Banco del Giro, was established in 1619.
The Moro family was a patrician family of the Republic of Venice.
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