The word "credit", like all words of world significance, comes from the Latin, and in translation means a loan, a debt. More romantic experts translate it as "believe."
The history of the loan, which was taken by those who believed, began in ancient Egypt after entering into the 3rd century BC. e. a separate form of a loan agreement, when a borrower who did not return the money in time became a slave to the lender. The rules of ancient Babylon were much more severe according to the laws of King Hammurabi, the penalty box gave the children a pledge. Hammurabi went down in history as a wise and fair ruler.
In the Middle Ages, the people became more progressive the notion of “usury” appeared, which, however, strongly condemnedthe church. "God" people considered it a crime and a grave sin to get "money from money." Italian bankers did not agree with them in the 15th century they invented bill crediting. If you then needed the money, you would have taken the necessary amount from the lender and requiring the bill to be paid at the right time. The amount you had to pay for the bill was a bit more than what you borrowed the difference is "sinful" interest.
The easing of restrictions on the part of the church did its job people no longer relieved the craving for luxury andentertainment, which became a special cult among the nobility. During the Enlightenment, loans increased significantly. However, the first commercial banks that appeared in Europe in the 16th and 17th centuries were the prerogative of industrialists and merchants, while citizens preferred usurers, whose image became ominous. While honest citizens, who considered life “loaned” shameful, went to borrow only when in dire need, the aristocrats called it “prejudices of the common people”, actively using bill credits.
As for the nobility, among them there was the concept of “loans for urgent needs” for the borrowed money they bought a new crew, jewelry, gambling. Credit is delaying people of that time understood it. The estates in which the family members of thedebtor often lived, the healers were re-laid several times, leaving their wives and children on the street after the destruction. European laws were "democratic" it was allowed to sell the house, even if it was inhabited by small children.
At the same time, people resorted to another type of loan both workers and noblemen purchased goods on credit from the manufacturer. This state of affairs was beneficial to butchers, grocers, bakers, whose demand for products was constant. In this kind of calculation there were three “but”, the first of which occurred in the event of loss of working ability or loss of work by a simple citizen it was not easy to collect debts from him. The second “but” concerned the reluctance of the aristocrat to pay. It was quite a normal practice to tailor an exclusive dress from an elite dressmaker or buy from a jeweler luxurious jewelry that cost rich people who do not consider it necessary to pay their bills almost for nothing. The above two problems did not go to any comparison with the most undesirable case in the practice of creditors cooperation with kings, which could ruin without repaying debts. And all because when borrowing they gave their “honest royal” word, which was law, as a guarantee of solvency.
Official credit institutions owned by the state, appeared in the 18th century - ordinary people until that time used the services of usurers, who gave under 30%. There was nothing new in this collaboration: serfs laid shirts, nobles - estates. After this “shop” was closed down, banning it with a specially created law, banks appeared where it was possible to borrow at 6–8% - this was the rate the state set. At the same time, the law did not prohibit using as a mortgage not only property, but also its serfs.
It is curious that merchants and landowners experienced different emotions for lending in state-owned banks: the first was all the same from whom to take - from the state or from the usurer, and the latter tried in every way to bypass the state-owned banks. In the 18th century, the State Commercial Bank lent 25 million rubles, accepting 200 million rubles of deposits, which were then transferred to a loan bank, issuing loans to landlords for estates.
Private banking houses that appeared in the 19th and 20th centuries did not have a large amount of funds. So the concept of “microcredits” like 1000 payday loan absolutely logically appeared. These private banking organizations were engaged not only in issuing loans, but also in trade and the production of goods — their activities were not regulated by any law. The services of such banks were used by merchants and small industrialists, and their fame spread from person to person.
A century later, at the end of the 19th century, two banking institutions were opened - Peasant land plots, cooperating with peasants, and Dvoryansky, issuing loans to buy housing exclusively to nobles. A loan for the purchase of a property or land could be taken at 5%, and repaid in 20-25 years (often in 60-65). Does this not remind you of a modern mortgage system, more convenient and perfect than it is now? Anyway, she disappeared after 1917.