BANK; BANKING

1. Introductory:

"Banking" in the full modern sense, of taking money on deposit and lending it out on interest, is of comparatively recent origin. A few "banks of deposit" were founded in Italy in the Middle Ages, but the earliest "banks of issue," of the modern sort, were those of Amsterdam (1609) and Hamburg (1619), beginning in the 17th century. The law of Moses forbade Israelites to charge each other interest (Exodus 22:25 Leviticus 25:35, 37 Deuteronomy 23:19), but let them lend on interest to Gentiles (Deuteronomy 23:20), though this law was often evaded or disregarded (Nehemiah 5:10, 12). Banks and banking, however, are found in operation in the Greek cities; "moneychangers," sitting at their tables (trapezai) in the market place, both changed coins and took money on deposit, giving high interest; and banking of a sort, in its incipient stages, existed among the ancient Hebrews. But the Phoenicians are now thought to have been the inventors of the money-changing, money-lending system which is found in more or less modified and developed forms among ancient peoples and in full development and operation in the palmy days of the Roman Empire. In the Greek-Roman period, without doubt, bankers both received money on deposit, paying interest, and let it out at a higher rate, or employed it in trade, as the publicani at Rome did, in farming the revenues of a province (Plumptre).

2. Banking among the Ancient Hebrews:

(1) The Hebrew money-changer, like his modern Syrian counterpart, the saraf (see PEFS, 1904, 49, where the complexity of exchange in Palestine today is graphically described), changed the large coins current into those of smaller denominations, e.g. giving denarii for tetradrachms, or silver for gold, or copper for silver.

(2) But no mean part of his business was the exchanging of foreign money, and even the money of the country of a non-Phoenician standard, for shekels and half-shekels on this standard, the latter being accepted only in payment of the temple dues (see MONEY). The "money-changers" of Matthew 21:12, as the Greek signifies, were men who made small change. Such men may be seen in Jerusalem now with various coins pried in slender pillars on a table (compare epi trapezan, Luke 19:23), ready to be used in changing money for a premium into such forms, or denominations, as would be more current or more convenient for immediate use.

(3) "Usury" in English Versions of the Bible is simply Old English for what we today call "interest," i.e. the sum paid for the use of money, Latin usura; and "interest" should take the place of it in all passages in the Old Testament and New Testament, where it has such significance.

3. Banking in New Testament Times:

The Greek word rendered (tokos), "usury" in the New Testament (see Luke 19:23) means literally, "what is born of money," "what money brings forth or produces." "Usury" has come to mean "exorbitant interest," but did not mean this at the time of the King James Version, 1611.

(1) In Christ's time, and immediately following, there was great need for money-changers and money-changing, especially on the part of foreign Jews whom custom forbade to put any but Jewish coins into the temple treasury (see Mark 12:41). It was mainly for the convenience of these Jews of the Dispersion, and because it was in order to a sacred use, that the people thought it proper to allow the money-changers to set up their tables in the outer court of the temple (see Matthew 21:12).

(2) The language of Matthew 25:27, `Thou oughtest to have put my money to the bankers,' etc., would seem to indicate the recognition by Christ of the custom and propriety of lending out money on interest (compare 19:23). The "exchangers" here are "bankers" (compare Matthew 25:27). The Greek (trapezitai) is from a word for "bank" or "bench" (trapeza), i.e. the "table" or "counter" on which the money used to be received and paid out. These "bankers" were clearly of a higher class than the "small-change men" of Matthew 21:12, etc. (compare "changers of money," John 2:14, and "changers," John 2:15, English Versions). Christ upbraids the "slothful servant" because he had not given his pound to "the bank" (or "banker," epi trapezan, literally, "on a banker's table"), who, it is implied, would have kept it safe and paid interest for it (Luke 19:23 f). It is noteworthy that the "tenminae" of Luke 19:24 are those acquired by "the good servant" from the "one" which was first lent him. So these wealthier bankers even then in a way received money on deposit for investment and paid interest on it, after the fashion of the Greeks.

4. Interpretations, Figurative Uses, etc.:

(1) In Christ's parable (Luke 19:23) "the bank" (literally, "a bank," "table") is taken by some to mean "the synagogue," by others to mean "the church" (Lange, LJ, II, 1, 414); i.e. it is thought that Christ meant to teach that the organized body, "synagogue" or "church," might use the gifts or powers of an adherent or disciple, when he himself could not exercise them (compare DCG, article "Bank").

(2) Then some have thought that Christ was here pointing to prayer as a substitute for good works, when the disciple was unable to do such. Such views seem far-fetched and unnecessary (compare Bruce, Parabolic Teaching of Christ, 209).

(3) The "money-changers," then as now, had ever to be on guard against false money, which gives point to the oft-quoted extra-scriptural saying (agraphon) of Jesus to His disciples: "Be ye expert money-changers" (Greek ginesthai trapezitai dokimoi; see Origen, in Joam, XIX), which was taken (Clem., Hom.,. III, 61) to mean, "Be skillful in distinguishing true doctrine from false" (HDB, 1-vol).

George B. Eager

4147. plouteo -- to be rich
... See 4145 (). (Rev 3:17) The Laodiceans had success in banking, trade, and
commerce -- but their lives paid dividends (yields)! The ...
//strongsnumbers.com/greek2/4147.htm - 7k

In Our Last Chapter we Sought to Show that in Rev. . .
... But as hospitals, colleges, universities, banking houses are opened, and all the
commercial adjuncts of civilization find a place in the land of David, then ...
//christianbookshelf.org/pink/the antichrist/in our last chapter we.htm

The Christian Business World
... It is this latter class which upsets trade, causes great commercial and banking
houses to fail, and casts suspicion upon all corporations, by the sale of ...
/.../sell/studies in the life of the christian/study xi the christian business.htm

Claiming.
... For instance, if a man has a credit balance of [USD]250 in his current banking account,
and draws a check for [USD]50, he does not require to go to the manager ...
/.../christianbookshelf.org/macneil/the spirit-filled life/chapter xiii claiming.htm

Carey's Last Days
... Although the catastrophe exposed the rottenness of the system of credit on which
commerce and banking were at that time conducted, in the absence of a free ...
/.../smith/the life of william carey/chapter xvi careys last days.htm

In the Course of this Crude Study we Shall have to Touch on what ...
... this modern notion that woman is a mere "pretty clinging parasite," "a plaything,"
etc., arose through the somber contemplation of some rich banking family, in ...
/.../chesterton/whats wrong with the world/chapter 8 in the course.htm

A Praying Bent of Mind.
... reasserts itself. I remember years ago, in a banking-house where I served
for a time, I had long additions to make. Sometimes the ...
/.../gordon/quiet talks with world winners/a praying bent of mind.htm

The Personal History of Callistus; his Occupation as a Banker ...
... as being of the faith, Carpophorus committed no inconsiderable amount of money,
and directed him to bring in profitable returns from the banking business. ...
/.../the refutation of all heresies/chapter vii the personal history of.htm

The Epistle of Paul the Apostle to the Ephesians
... It was in a central position on the great trade route from the east, and was famous
for its banking business, its manufacture of fine garments of black wool ...
/.../pullan/the books of the new testament/chapter xv the epistle of.htm

Ciii. Zacchæus. Parable of the Pounds. Journey to Jerusalem.
... according to his personal honesty. Our present banking system has been the
slow growth of many centuries. The lesson taught is that ...
/.../mcgarvey/the four-fold gospel/ciii zacchaeus parable of the.htm

Making Haste to be Rich.
... At the end of a couple of years, he held the office of director in two banking
institutions, and was president of an insurance company that issued post-notes ...
//christianbookshelf.org/arthur/words for the wise/making haste to be rich.htm

1. (p. pr. & vb. n.) of Bank.

2. (n.) The business of a bank or of a banker.

Banking
... Noah Webster's Dictionary 1. (p. pr. & vb. n.) of Bank. 2. (n.) The business of
a bank or of a banker. Int. Standard Bible Encyclopedia. BANK; BANKING. ...
/b/banking.htm - 13k

Bank (28 Occurrences)
... corporate capacity. 18. (n.) The building or office used for banking purposes.
19. (n ...BANKING (which see). MO Evans. BANK; BANKING. ...
/b/bank.htm - 26k

Banks (11 Occurrences)

/b/banks.htm - 10k

Laodicea (6 Occurrences)
... compare Revelation 3:17). It was a city of great wealth, with extensive banking
operations (compare Revelation 3:18). Little is known ...
/l/laodicea.htm - 11k

Exchange (41 Occurrences)
... Int. Standard Bible Encyclopedia. EXCHANGE; EXCHANGER. eks-chanj', eks-chan'-jer.
See BANK, BANKING. Multi-Version Concordance Exchange (41 Occurrences). ...
/e/exchange.htm - 20k

Bankers (1 Occurrence)

/b/bankers.htm - 6k

Concern (35 Occurrences)
... 7. (n.) Persons connected in business; a firm and its business; as, a banking
concern. Multi-Version Concordance Concern (35 Occurrences). ...
/c/concern.htm - 16k

Exchanger
... (n.) One who exchanges; one who practices exchange. Int. Standard Bible Encyclopedia.
EXCHANGE; EXCHANGER. eks-chanj', eks-chan'-jer. See BANK, BANKING. ...
/e/exchanger.htm - 6k

Banking

Bankruptcy

Bank (28 Occurrences)

Banks (11 Occurrences)

Laodicea (6 Occurrences)

Exchange (41 Occurrences)

Bankers (1 Occurrence)

Concern (35 Occurrences)

Exchanger

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