Where did the BANK come from???

Nowadays, everyone is familiar with 'Bank' and related terms. Here, I will not be explain the meaning of bank however, we will look at an interesting fact about where the word 'Bank' originated from?
There are two interesting stories behind it which everyone should know.

The word 'Bank' came from the word 'Bench'. Before 12th century, in Rome (Central Itly), local merchants used to do their business using bench. Their main work was to give loan to public and to take interest against the loan. They also kept safe deposits of excess wealth and issued repository notes to their customers. The bench they used for trading was not ordinary. Those were made of fine wooden work with precious coins of gold and silver fixed on them. The size of coins was symbol of status for every merchant. As the time passed, the word 'Bench' became 'Banco' and then gradually it transformed into 'Bank'. In same way few other words also came with Bank.
When any merchant suffered from loss and failed to pay money to his creditors. His bench was broken for repay amount to creditors. The word 'Bankrupt' came from this action. The depository note issued by merchant was called 'Billette' which later became 'Bill' with time.

The second story about Bank is also from Rome. When the state of Venice was attacked by other state and got stuck in financial crisis during the war. The king of Venice announced and asked for a compulsory loan of 1% of total property from citizen of kingdom. The king promised to repay principal amount with 4% of interest on it in future.
All public deposited their wealth to Treasury. The collected loan looked like a mountain of wealth. The news of this mountain spread like fire in everywhere. The huge mountain of wealth called 'Monte' and this Italian word became 'Banco' and transformed into 'Bank'.

Both stories denote the major works of the bank. The first one explain the primary work which is Money Deposit and Loan, where second story is about Creation of reserve. Different scholars have their different views and they support different stories as per their views.


Please let me know about your views on this post in comment box..


Thanks
Saurav..