Gran Tavola
Encyclopedia
Middle Ages
The Middle Ages is a periodization of European history from the 5th century to the 15th century. The Middle Ages follows the fall of the Western Roman Empire in 476 and precedes the Early Modern Era. It is the middle period of a three-period division of Western history: Classic, Medieval and Modern...
, the Gran Tavola (Italian
Italian language
Italian is a Romance language spoken mainly in Europe: Italy, Switzerland, San Marino, Vatican City, by minorities in Malta, Monaco, Croatia, Slovenia, France, Libya, Eritrea, and Somalia, and by immigrant communities in the Americas and Australia...
for "Great Table") was the largest Sienese
Siena
Siena is a city in Tuscany, Italy. It is the capital of the province of Siena.The historic centre of Siena has been declared by UNESCO a World Heritage Site. It is one of the nation's most visited tourist attractions, with over 163,000 international arrivals in 2008...
bank, and one of the most powerful banks in Europe from 1255 to 1298. The Gran Tavola has been called "the greatest bank of the thirteenth century" as well as "one of the largest commercial and banking enterprises in Europe".
The main branches of the Gran Tavola during the mid-thirteenth century were in Pisa
Pisa
Pisa is a city in Tuscany, Central Italy, on the right bank of the mouth of the River Arno on the Tyrrhenian Sea. It is the capital city of the Province of Pisa...
, Bologna
Bologna
Bologna is the capital city of Emilia-Romagna, in the Po Valley of Northern Italy. The city lies between the Po River and the Apennine Mountains, more specifically, between the Reno River and the Savena River. Bologna is a lively and cosmopolitan Italian college city, with spectacular history,...
, Genoa
Genoa
Genoa |Ligurian]] Zena ; Latin and, archaically, English Genua) is a city and an important seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria....
, Marseille
Marseille
Marseille , known in antiquity as Massalia , is the second largest city in France, after Paris, with a population of 852,395 within its administrative limits on a land area of . The urban area of Marseille extends beyond the city limits with a population of over 1,420,000 on an area of...
, and Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
.
Rise
The Gran Tavola has its roots in the societasS.A. (corporation)
S.A. designates a particular type of corporation in various countries, mostly those employing the civil law. It originated in Spain during the 16th century. Depending on language, the abbreviation stands for various phrases meaning anonymous society, anonymous company, anonymous partnership, or...
of the Bonsignori, which began activity in the 1240s with the participation of the Malavolti.
The Gran Tavola was founded by Orlando Bonsignori
Orlando Bonsignori
Orlando Bonsignori was an Italian banker from Siena.He was the son of Bonsignore di Bernardo, a minor merchant, but Orlando, together with his brother Bonifazio, expanded the family fortunes until in the 1230 he was among the largest Sienese taxpayers...
in 1255 and in the 1260s became the exclusive depository-general of the incomes of the Papal States
Papal States
The Papal State, State of the Church, or Pontifical States were among the major historical states of Italy from roughly the 6th century until the Italian peninsula was unified in 1861 by the Kingdom of Piedmont-Sardinia .The Papal States comprised territories under...
\. Pope Innocent IV
Pope Innocent IV
Pope Innocent IV , born Sinibaldo Fieschi, was pope from June 25, 1243 until his death in 1254.-Early life:...
's (1243-1254) conflicts with Frederick II, Holy Roman Emperor
Frederick II, Holy Roman Emperor
Frederick II , was one of the most powerful Holy Roman Emperors of the Middle Ages and head of the House of Hohenstaufen. His political and cultural ambitions, based in Sicily and stretching through Italy to Germany, and even to Jerusalem, were enormous...
had demonstrated plainly to the Roman Curia
Roman Curia
The Roman Curia is the administrative apparatus of the Holy See and the central governing body of the entire Catholic Church, together with the Pope...
the importance of reliable and robust financial services relationships. The first so-designated papal depository was the Piccolomini
Piccolomini
Piccolomini is the name of an Italian noble family, which was prominent in Siena from the beginning of the 13th century onwards. In 1220, Engelberto d'Ugo Piccolomini received the fief of Montertari in Val d'Orcia from the emperor Frederick II as a reward for services rendered...
firm headed by Angeliero Solafico circa 1233 under Pope Gregory IX
Pope Gregory IX
Pope Gregory IX, born Ugolino di Conti, was pope from March 19, 1227 to August 22, 1241.The successor of Pope Honorius III , he fully inherited the traditions of Pope Gregory VII and of his uncle Pope Innocent III , and zealously continued their policy of Papal supremacy.-Early life:Ugolino was...
; the Gran Tavola filled this role between 1250 and 1270.
The slightly larger Ricciardi bank of Lucca
Lucca
Lucca is a city and comune in Tuscany, central Italy, situated on the river Serchio in a fertile plainnear the Tyrrhenian Sea. It is the capital city of the Province of Lucca...
was also intimately involved in church finances. During the reign of Pope Clement IV
Pope Clement IV
Pope Clement IV , born Gui Faucoi called in later life le Gros , was elected Pope February 5, 1265, in a conclave held at Perugia that took four months, while cardinals argued over whether to call in Charles of Anjou, the youngest brother of Louis IX of France...
, the bank became responsible for the collection of all the ecclesiastical tithe
Tithe
A tithe is a one-tenth part of something, paid as a contribution to a religious organization or compulsory tax to government. Today, tithes are normally voluntary and paid in cash, cheques, or stocks, whereas historically tithes were required and paid in kind, such as agricultural products...
s for the Holy Land
Holy Land
The Holy Land is a term which in Judaism refers to the Kingdom of Israel as defined in the Tanakh. For Jews, the Land's identifiction of being Holy is defined in Judaism by its differentiation from other lands by virtue of the practice of Judaism often possible only in the Land of Israel...
. Under Pope Urban IV
Pope Urban IV
Pope Urban IV , born Jacques Pantaléon, was Pope, from 1261 to 1264. He was not a cardinal, and there have been several Popes since him who have not been Cardinals, including Urban V and Urban VI.-Biography:...
(1265-68), all pontifical taxes were collected by the Gran Tavola. After the 1260s, popes Nicholas III
Pope Nicholas III
Pope Nicholas III , born Giovanni Gaetano Orsini, Pope from November 25, 1277 to his death in 1280, was a Roman nobleman who had served under eight Popes, been made cardinal-deacon of St...
, Honorius IV
Pope Honorius IV
Pope Honorius IV , born Giacomo Savelli, was Pope for two years from 1285 to 1287. During his unremarkable pontificate he largely continued to pursue the pro-French policy of his predecessor, Pope Martin IV...
, and Nicholas IV
Pope Nicholas IV
Pope Nicholas IV , born Girolamo Masci, was Pope from February 22, 1288 to April 4, 1292. A Franciscan friar, he had been legate to the Greeks under Pope Gregory X in 1272, succeeded Bonaventure as Minister General of his religious order in 1274, was made Cardinal Priest of Santa Prassede and...
continued to use Sienese banks for a small amount of transactions.
The bank also supported Charles of Anjou in his conquest of the Kingdom of Sicily
Kingdom of Sicily
The Kingdom of Sicily was a state that existed in the south of Italy from its founding by Roger II in 1130 until 1816. It was a successor state of the County of Sicily, which had been founded in 1071 during the Norman conquest of southern Italy...
; through a network of "virtual banking syndicates" the bank secured a loan of 200,000 livres tournois
Livre tournois
The livre tournois |pound]]) was:#one of numerous currencies used in France in the Middle Ages; and#a unit of account used in France in the Middle Ages and the early modern period.-Circulating currency:...
for the Angevin monarch. The Gran Tavola benefited greatly from Charles's victory over the House of Hohenstaufen, having previously seen its commercial opportunities limited by Siena's political support of the Hohenstaufen. The Gran Tavola was "at the center of financial operations in both Genoa
Genoa
Genoa |Ligurian]] Zena ; Latin and, archaically, English Genua) is a city and an important seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria....
and Tuscany
Tuscany
Tuscany is a region in Italy. It has an area of about 23,000 square kilometres and a population of about 3.75 million inhabitants. The regional capital is Florence ....
"; Guglielmo Leccacorvo served as the bank's representative in Genoa. Bonsignori made his institution one of the most influential in Western Europe by expanding its reach into Catalonia
Catalonia
Catalonia is an autonomous community in northeastern Spain, with the official status of a "nationality" of Spain. Catalonia comprises four provinces: Barcelona, Girona, Lleida, and Tarragona. Its capital and largest city is Barcelona. Catalonia covers an area of 32,114 km² and has an...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, and England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
.
Decline and failure
Coup de grâce
The expression coup de grâce means a death blow intended to end the suffering of a wounded creature. The phrase can refer to the killing of civilians or soldiers, friends or enemies, with or without the consent of the sufferer...
for the Gran Tavola was the crunch caused by the confiscation of Sienese assets by Philip IV of France
Philip IV of France
Philip the Fair was, as Philip IV, King of France from 1285 until his death. He was the husband of Joan I of Navarre, by virtue of which he was, as Philip I, King of Navarre and Count of Champagne from 1284 to 1305.-Youth:A member of the House of Capet, Philip was born at the Palace of...
(as a result of debts he claimed to have been owed by the Bonsignori) and the loss of papal business under Pope Boniface VIII
Pope Boniface VIII
Pope Boniface VIII , born Benedetto Gaetani, was Pope of the Catholic Church from 1294 to 1303. Today, Boniface VIII is probably best remembered for his feuds with Dante, who placed him in the Eighth circle of Hell in his Divina Commedia, among the Simonists.- Biography :Gaetani was born in 1235 in...
(a trend under way since the early 1290s).
The failure of the Gran Tavola was followed by a period of acute and sustained economic ruin in Siena, systemically spreading
Systemic risk
In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system. It can be defined as "financial system instability, potentially catastrophic, caused or exacerbated by...
to several other Sienese banks. By 1320, Siena's international position had contracted almost entirely, following the additional failure of the Tolomei
Tolomei
Tolomei may refer to:*Bernardo Tolomei , Roman Catholic cleric*Ettore Tolomei , Italian nationalist...
bank in 1313 and the decline of the Champagne fairs
Champagne fairs
The Champagne fairs were an annual cycle of trading fairs held in towns in the Champagne and Brie regions of France in the Middle Ages. From their origins in local agricultural and stock fairs, the Champagne fairs became an important engine in the reviving economic history of medieval Europe,...
, whose commercial activities were "umbilically linked" to Siena; for example, Sienese institutions were not present in the Avignon Exchange
Avignon Exchange
The Avignon Exchange was one of the first foreign exchange markets in history, established in the Comtat Venaissin during the Avignon Papacy. The Exchange was composed of the agents of the great Italian banking-houses, who acted as money-changers as well as financial intermediaries between the...
created during the Avignon Papacy
Avignon Papacy
The Avignon Papacy was the period from 1309 to 1376 during which seven Popes resided in Avignon, in modern-day France. This arose from the conflict between the Papacy and the French crown....
.
Pope Nicholas IV
Pope Nicholas IV
Pope Nicholas IV , born Girolamo Masci, was Pope from February 22, 1288 to April 4, 1292. A Franciscan friar, he had been legate to the Greeks under Pope Gregory X in 1272, succeeded Bonaventure as Minister General of his religious order in 1274, was made Cardinal Priest of Santa Prassede and...
lost 80,000 florins
Italian coin florin
The Italian florin was a coin struck from 1252 to 1533 with no significant change in its design or metal content standard. It had 54 grains of nominally pure gold worth approximately 200 modern US Dollars...
as a result of the collapse of the Gran Tavola but the loss was mitigated by the overall weakening of Siena, at the time known for its anti-papal, though nominally Ghibelline
Guelphs and Ghibellines
The Guelphs and Ghibellines were factions supporting the Pope and the Holy Roman Emperor, respectively, in central and northern Italy. During the 12th and 13th centuries, the split between these two parties was a particularly important aspect of the internal policy of the Italian city-states...
, allegiances. Many years later, this loss served as one of the pretexts for the papal interdict
Interdict (Roman Catholic Church)
In Roman Catholic canon law, an interdict is an ecclesiastical censure that excludes from certain rites of the Church individuals or groups, who nonetheless do not cease to be members of the Church.-Distinctions in canon law:...
of Siena. Furthermore, the failure of the Gran Tavola lead to the rapid rise of Florentine banking institutions. Under the leadership of Pope Boniface VIII
Pope Boniface VIII
Pope Boniface VIII , born Benedetto Gaetani, was Pope of the Catholic Church from 1294 to 1303. Today, Boniface VIII is probably best remembered for his feuds with Dante, who placed him in the Eighth circle of Hell in his Divina Commedia, among the Simonists.- Biography :Gaetani was born in 1235 in...
, the papal finances were transferred to Florentine banking institutions as well.