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Political conflict did not, however, prevent the city's rise to become one of the most powerful and prosperous in Europe, assisted by its own strong gold currency. The "fiorino d'oro" of the Republic of Florence , or florin , was introduced in 1252, the first European gold coin struck in sufficient quantities to play a significant commercial ...
The House of Medici (English: / ˈ m ɛ d ɪ tʃ i / MED-itch-ee, UK also / m ə ˈ d iː tʃ i / mə-DEE-chee; [4] Italian: [ˈmɛːditʃi]) was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici and his grandson Lorenzo "the Magnificent" during the first half of the 15th century.
The Cronaca fiorentina is not only a detailed history of the Black Death in Florence, but also a history of Florentine political groups and the political ambitions of individuals. [1] [4] Bonaiuti stresses the economic disruption in Florence during the fourteenth century which was the result of the bubonic plague. [5]
Lorenzo's grandfather, Cosimo de' Medici, was the first member of the Medici family to lead the Republic of Florence and run the Medici Bank simultaneously. As one of the wealthiest men in Europe, the elder Cosimo spent a very large portion of his fortune on government and philanthropy, for example as a patron of the arts and financier of public works. [7]
Due to his allegiance to Cosimo, he was allowed to stay in Florence after his family’s exile in 1434. Luca soon became Cosimo's right-hand man and was sent as ambassador to Milan, Rome, and Venice. He became the Gonfaloniere of Justice in 1442 and, occasionally, a member of the Council of Ten. Ormanno degli Albizzi was the son of Rinaldo ...
Cosimo de' Medici was born in Florence to Giovanni di Bicci de' Medici and his wife Piccarda Bueri on 27 September 1389. [6] At the time, it was customary to indicate the name of one's father in one's name for the purpose of distinguishing the identities of two like-named individuals; thus, Giovanni was the son of Bicci, and Cosimo's name was properly rendered Cosimo di Giovanni de' Medici.
The Medici became the town's leading family, a position they would hold for the next three centuries. Florence organized the trade routes for commodities between England and the Netherlands, France, and Italy. By the middle of the century, the city had become the banking capital of Europe and thereby obtained vast riches. [32]
The Battle of Crécy in 1346, from Froissart's Chronicles; Giovanni Villani wrote an accurate description of the battle and other events. [39]Villani's work is an Italian chronicle written from the perspective of the political class of Florence just as the city rose to a rich and powerful position.