.The Role of Professional Bankers in Ancient Rome
Professional bankers formed a distinct social group in Roman society. Most of them belonged to the equites, a wealthy class just below the senators. In Rome, one of their main business locations was the Janus Medius, a vaulted passageway likely located at the edge of the Basilica Aemilia.
State Intervention: The Mensarii
To maintain social order and prevent unrest, the Roman government supported economic stability among its citizens. During crises such as food shortages or wars, the state established public banks. These were managed by officials known as mensarii (mensa meaning “bank” in Latin). They operated around the Forum and distributed loans from the public treasury (aerarium) to indebted citizens who could provide collateral.
The mensarii first appeared in historical records in 352 BC. They played a crucial role in stabilizing society by offering accessible public credit during tough times.
Currency Control: The Nummularii
Another type of public banker was the nummularius (numus meaning “coin”). These officials worked directly with the Roman mint. Their responsibilities included testing the quality of newly minted coins, exchanging worn or outdated currency, and introducing fresh coins into circulation.
Nummularii appeared in Rome at the end of the 1st century BC and continued their duties until the start of the 4th century AD. They helped ensure the reliability of the monetary system across the empire.
Private Banking: The Argentarii
The private sector featured professional money dealers called argentarii (argentum meaning “silver”). These freemen formed a collegium, or professional guild, which provided both business connections and social support.
Their banking shops, known as tabernae argentariae, operated in the Roman Forum. Here, they offered a range of financial services to clients from different economic backgrounds. Some argentarii, known as coactores argentarii, provided credit for auction purchases and managed the payment arrangements. They were particularly active between the mid-2nd century BC and mid-2nd century AD.
Social Status and Financial Records
Skilled argentarii who managed large-scale operations often earned significant respect and wealth. Figures like Jucundus of Pompeii and Pompeius Trimalchio became highly influential due to their financial success.
These bankers kept meticulous business records in wax-covered wooden tablets, known as codices. Courts recognized these records as valid legal evidence, further reinforcing the credibility and importance of their profession.
