Abstract

This essay aims to analyze the relationship between the Florentine public debt (the "Monte comune") and its creditors during the 15th century, focusing in particular on the role of non-Florentine investors. According to Florentine laws, bishops and cardinals, great merchants, Italian lords and foreign rulers could purchase notable sums of «titoli di Monte» to gain regular interest on their capital. Such a choice generated a complex system of relations with Florentine finances, which involved the use of citizenship as a tool to strengthen the links between Florence and its creditors. For that reason the practice of foreign investment allows us to study the political strategy of Florence and at the same time the Italian capital market during the Quattrocento.