MEDIEVAL - LOMBARDS

Question 1

WHY DID THEY MIGRATE?

Answer 1

MONEY - they were already rich, rich families in the 1220s saw the money made by Jews & wanted to copy
OVERCOMING USURY - Church fines for usury were low compared to potential profits
INCREASED PROFITS - After 1265, the Church did not fine for Usury & there was less competition bc Jews left
NEW OPPORTUNITIES - Incited by Henry III to replace Jews in 1220 under Royal Protection

Question 2

EXPERIENCES OF LOMBARD MIGRANTS

Answer 2

LOMBARDS
Supportive letters from Henry III gave them protection
Assured successs for families like the Lucca family and the Riccardi family after royal protection and the expulsion of Jews in 1290
Failed to finance the war w/ France in 1224 so Edward III confiscated & arrested the Riccardi family for not meeting his demands

Question 3

IMPACTS OF LOMBARDS

Answer 3

Money loaned had a significant impact on the economy
Boosted international trade
Funded national defence funding wars against wales by building castled for edward I; Funded Edward III in the Hundred Year War
Transformed London into a hub of international finance - Lombard street is still a key street for bankers - Bank comes from the Italian “banco”