Publication of the First Bill of Exchange

Isocrates wrote the Discourse on Banking, a Bill of exchange circa 390 BCE in Athens, Greece. The orator and rhetoric teacher described the practice of placing a sum with a banker and receiving a letter in order to secure funds from other bankers in distant cities.

      390 BCE
      Athens, Greece

Additional Information:

  • Bill of exchange | banking | Britannica
    The bill of exchange originated as a method of settling accounts in international trade. Arab merchants used a similar instrument as early as the 8th century ad, and the bill in its present form attained wide use during the 13th century among the Lombards of northern Italy, who carried on considerable foreign commerce.
  • The Origin of the Bill of Exchange – Chicago Journals [PDF]
    THE ORIGIN OF THE BILL OF EXCHANGE. The existence of credit instruments in the Middle Ages has been well known for many years. Considerable masses …
  • Negotiable instrument – Wikipedia
    A negotiable instrument is a document guaranteeing the payment of a specific amount of … 1 Definition; 2 History; 3 Distinguished from other types of contracts … defines a bill of exchange as: ‘an unconditional order in writing, addressed by …
  • The Medieval Bill of Exchange – Toronto Economics
    A Simple Definition: The bill of exchange or lettre de change (later known as the ‘acceptance bill’ and the draft) was simply an informal letter by which one …
  • Bill of Exchange | History of SC Slide Collection |
    One form of this paper money substitute was “bills of exchange,” in which merchants who accepted goods for shipment to England gave in exchange a paper …

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