goldsmith
| Old commercial term for a dealer in bullion and foreign currency as opposed to one who works gold as an artisan. Goldsmiths existed from at least the 12th century and were granted a charter 1394. Their establishments were the precursors of modern banks, and by the 17th century their receipts or bonds were negotiable. Their influence was greatly diminished by the creation of the Bank of England, designed to halt the government's dependence on private credit. |
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