From a Taste for Beauty to Pleasure in Money
摘要
The Botti were well integrated into the monetary, financial and credit system of the sixteenth century. Their financial activity was intense, and their money was used not only to support trade but also for speculation. The method used for transferring money between Tuscany and Andalusia is fairly clear in the Botti documents. They used bills of exchange in the three-market combinations that were most popular among Tuscan merchants, relying mainly on the fairs in Castile and Lyon. Exchange rates influenced the choice of route in both directions. Thanks to their vast network, the financial markets involved even reached the Canary Islands, with which they had intense trade relations. They also had their hand in transatlantic insurance, insuring journeys from Seville to Nombre de Dios, from São Tomé to Flanders, from Ayamonte to London, from Cádiz to Rouen, from Sicily to Andalusia and from Venice to Candia. And the Botti brothers were also involved in buying and selling state debt. They managed French and Spanish government bonds and invested in Bruges annuities, and not just for the interest they promised. They understood that indebted treasuries might default on their commitments, and they got involved in this risky activity for the indirect advantages. These include positive relations with the authorities as well as political and social positioning that made it possible to influence economic and fiscal affairs.