Development of banking in Hradec Králové

The emergence of the monetary system is connected with the development of production, trade, money and the transition from in-kind exchange to monetary exchange. The first money was commodity money, even before it had a monetary function. Until there was no institution in this field, individuals lent money on their word of honor, on hostages, on pledges or had the borrowed money embodied in the city books on the real estate of their…