Why were banks created in medieval england?

a. the new middle class required small loans.

b. people wanted a safe place to store expensive items.

c. the increase in population meant an increase in currency.

d. merchants needed a place to exchange currency from other countries.

Question

History

Alexandra

30 July, 19:04

Why were banks created in medieval england?

a. the new middle class required small loans.

b. people wanted a safe place to store expensive items.

c. the increase in population meant an increase in currency.

d. merchants needed a place to exchange currency from other countries.

+4

Answers (2)

Know the Answer?

Elijah Flynn · Answer 1

The correct answer is letter D. During the Crusades, transfering money to other countries meant a risk of robbery which brought the need to transfer money safely. However, banking as we know today has only started working in the 17th century, although in 1565 the London Royal Exchange has been established.

Everett Evans · Answer 2

Everett Evans 30 July, 21:04

0

the answer for this one is D

Why were banks created in medieval england?a. the new middle class required small loans.b. people wanted a safe place to store expensive items.c. the increase in population meant an increase in currency.d. merchants needed a place to exchange currency from other countries.

Why were banks created in medieval england?

a. the new middle class required small loans.

b. people wanted a safe place to store expensive items.

c. the increase in population meant an increase in currency.

d. merchants needed a place to exchange currency from other countries.