By Daniela Felisini
This ebook presents a vibrant biography of a towering Italian banker, pioneer and entrepreneur. It weaves the entrepreneurial ventures of Alessandro Torlonia (1800-1886) during the narratives of commercial and politics within the 19th century, the expansion of ecu monetary markets and the decline of Papal strength through the Italian Risorgimento. The dialogue is based in rigorous historic learn utilizing unique resources resembling the Archivum Secretum Vaticanum papers and different authentic files; the data of the Torlonia kinfolk, and of the Rothschild financial institution in Paris; memoirs; correspondences, and newspapers. via this booklet readers study that Alessandro Torlonia used to be a guy of many faces, who was once probably the most complicated and influential characters of Italian financial lifestyles within the 19th century. Felisini additionally offers a professional critique of the monetary heritage of the papacy: a space of heightened curiosity given the notoriety of kin among the Holy See and its bankers within the 20th and twenty-first centuries. Focal subject matters resembling the background of ecu elites and the background of eu monetary markets may have an interdisciplinary allure for students and researchers.
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Extra info for Alessandro Torlonia: The Pope’s Banker
15 Provisions to counter the hoarding and stockpiling of metal coinage were as unsuccessful as they were numerous,16 and the attempts to reduce the excess of cedole in circulation were just as ineffective. ”17 Such a situation could not but favour the position of someone like Giovanni Torlonia who had both liquidity in currency and an understanding of how the money and credit market worked. From 1783 he could be found in the Elenco dei banchieri esercitanti in Roma (List of bankers practising in Rome), a relatively small group of operators who were authorized to participate in the Congresso de’ cambj (Exchange Rates Fixing Meeting) which took place every Friday evening at Borromini’s Palazzo della Sapienza, on Corso Rinascimento.
They were then obliged to turn to the banker for loans and mortgages, in exchange for which they were forced to hand over significant pieces of their property. The state assets that were put on sale included, in the summer of 1798, the Tolfa alum works for which Torlonia was the contract-holder, as already discussed. 47 In October, however, the restored papal government annulled the purchase, The main purchase was the estate of Santa Maria Nuova, previously owned by the Olivetan Benedictine monks of Santa Francesca Romana: 466 hectares, 90 per cent of which was land for crops or pasturage.
56 Nicassio, Imperial City, 71. 53 54 2 Origins and Rise of the Torlonia Family and Bank 33 part of this; by then he had had been made a member of the “Roman Patriciate” by those popes whose financial needs he had many times met. 58 This world of fluctuating loyalties and shifting alliances is the backdrop for our examination of Torlonia’s achievements. ”60 In the case of Torlonia, these charges were probably sharpened by the prejudices relating to his role as a banker and Record made in the Gran Libro dei Nobili, 28 January 1809, n.
Alessandro Torlonia: The Pope’s Banker by Daniela Felisini