Late Middle Ages
In the late 13th and early 14th centuries, a process took place - primarily in Italy but partly also in the Empire - that historians have termed a 'commercial revolution'. Among the innovations of the period were new forms of partnership and the issuing of insurance, both of which contributed to reducing the risk of commercial ventures; the bill of exchange and other forms of credit that circumvented the canonical laws for gentiles against usury, and eliminated the dangers of carrying bullion; and new forms of accounting, in particular double-entry bookkeeping, which allowed for better oversight and accuracy.
Laws against what lending practice were addressed by the creation of bills of exchange?
usury
Among the innovations of the period were new forms of partnership and the issuing of insurance, both of which contributed to reducing the risk of commercial ventures; the bill of exchange and other forms of credit that circumvented the canonical laws for gentiles against usury, and eliminated the dangers of carrying bullion; and new forms of accounting, in particular double-entry bookkeeping, which allowed for better oversight and accuracy.
exchange