The concept of banking started during the Mesopotamian civilization in the 8th century B.C.E. During this time, economic activity was highly centralized by royal houses and the priesthood. Temples and royal places were the important centers to which commodities were deposited and from which they were redistributed among the people. They were also the places where deposited commodities were guarded by a security force. The commodities were probably in the form of crops and daily use commodities as well as precious stones and metals. So it was in the temples and royal places of Mesopotamia, that the earliest banking industry of the world developed and the notions of safeguarding deposits, took place.

The first archaeological evidence of financial activity appears in the earliest urban civilization of Mesopotamia in the Near East. Nearly 4000 or 5000 years ago, Uruk was a lush metropolis of temples, houses, and gardens. It was a powerful city-state whose cultural and political influence extended the length of the valley of Tigris and Euphrates. It has been argued that Uruk was the birthplace of the urbanism of monuments, architecture, written numerals, written language, and the world’s first literature. This metropolis has also been the birthplace of the earliest finance or banking practices.

In 1929 the German archaeologist Julius Jordan excavated a deep trench in the legendary Inanna temple complex, where he made an interesting discovery. The goddess home and storehouse were elegantly decorated with a multi-colored colonnade, and nearby laid the stone steps of the temple. The extraordinary architectural findings and the more prosaic evidence of Uruk received scant attention. The excavation of Uruk evidenced a number of curious little tokens shaped like commodities of daily life jars, loaves, and animals.

Another important archaeologist Denise Schmandt Besserat found the clay tokens resembled pictographic inscriptions on clay tablets from the excavation of Uruk. These Uruk pictographic tablets have been recognized as the first steps toward the written language of the world. Besserat found the pictograph of cloth for instance could be traced to a round strait token. The symbol for sweetness evolved from a token shaped like a honey jar, and the symbol for food evolved from a token shaped like a full dish. Most of the tokens represented commodities from daily life like lambs, sheep, cows, dogs, loaves of bread, jars of oil, honey, beer, milk, clothing, crops, ropes, wool, and rugs. These were the important commodities that once contained the financial instruments in the Inanna’s holy storehouse at the time of Gilgamesh in Uruk.

These token elements served as the earliest system of accounting used by the temple priests and perhaps the royal families or even by Gilgamesh himself. It appears that they were kept in hollow clay envelopes about the size of modern-day softballs called bullae. It was the earliest accounting system and the envelopes had to be broken each time, the accountant wanted to check the figures. The Uruk accountants solved this problem by making marks on the outside of the bullae, which indicated the numbers and types of tokens on the inside.

Everything we think of as a financial instrument today is in fact a contract. A government bond, for example, is a contract between the government and the bondholder to guarantee a series of payments in the future. A share of stock is a contract between the shareholder and the corporation that guarantees sharing in the profits of the firm and a right to vote on management. Although contracts existed before the invention of writing and even before the invention of bullae, the hollow clay balls and their tokens appear to be the earliest archaeological evidence of contracts. Each bullae found in the Inanna temple complex meant that someone promised to give some commodities. The writing of the outside bullae allowed the contracting parties to refer to the amount owed over the term of the contract, but the tokens inside were kept by the lender as evidence of the agreement which tangibly symbolized the obligation. This system may explain other curious features of the bullae as well.

Some of the envelopes are covered entirely in the impressions of the cylinder seals (the Mesopotamian equivalents of signatures). These undoubtedly represent a personal mark indicating the promise of the owing party. Bullae that are entirely covered in seal impressions seem to indicate that the owing party was concerned that the bullae holder might break open a small part of the bullae and insert some additional tokens. It is clear that the system of bullae is meant for the future payments bridged for a period of time from the movement when one party entered into an obligation to the moment when the obligation was discharged.

In the Sumerian language, the word for interest “mash” was also the term for calf (eg. Bovine). The ancient Sumerian society and in particular, the people of Uruk, appear to have been the perfect setting for the evolution of the practice of lending money with interest. It was a pastoral society in which wealth was measured by livestock “begot” wealth. It had a provision for recording contractual obligations and a numerical system that could specify particular quantities of goods. The Uruk accounting system made it easy for the Mesopotamians to imagine owning and exchanging quantities of goods. For example, if you lend someone a herd of 30 cattle for one year, you expect to be repaid with more than 30 cattle. The herd multiplies and the natural rate of increase of the herd’s wealth equals the rate of reproduction of his livestock. The idea of interest seems to be a natural one for a pastoral society, but not so for other types of economies. Perhaps finance began in ancient Mesopotamia because, for the first time, it was possible to symbolically represent units of wealth.

By the reign of the Babylonian king Hammurabi around 1750-1792 B.C.E., extraordinary literature had developed from the early utilitarian cuneiform script. This script presents the bulk of half a million surviving documents in the field of the financial texts of the Mesopotamian civilization. These financial writings provide remarkable information about banking, such as Montages, land deeds, loan contracts, promissory notes, and partnership agreements. The well-educated Babylonian of the 3rd millennium B.C.E. learned enough algebra to solve the problem of how much grain was used to sow its fields and enough about logarithms to be able to calculate compound interest.

By 1000 B.C.E. Babylonian private deposit accounts were practiced as it is shown by legal texts in the code of Hammurabi dealing with deposit accountants. A large number of contracts relating to this type of business have been found and these banking systems gave rise to the issuing of receipts and were concerned with goods and commodities of all kinds such as food grains, fruit, cattle, agricultural equipment, precious stones, etc. by a natural process of evolution, the existence of these deposits gradually progressed through to transfers of orders, not to the depositor, but to a third party. This was the process where the loan business evolved and reached a high stage of development in Mesopotamia.

The royal places and temples during this time period began to offer loans from their own asset repositories, and then from a part of the deposits which had been entrusted to them. Initially, such types of loans were, for example, seed grain to be paid after the harvest. A receipt would be made out and the rate of interest on that loan was fixed.

The third category of the banking industry was run by royal and sacred treasuries in the Babylonian period was that of making or accepting payments on behalf of their clients. They undertook to make payments out of the deposits entrusted to them.

In the 7th or 5th century B.C.E., the above three practices had undergone no sensible modification. It is evident that kings, priests, and private individuals were playing an important part in running the banking and that private enterprise led to interesting developments. Business methods were developed and improved as it is shown by some documents which survive from this period. Despite banking becoming much more flexible and current accounts seeming to have been quite common, the process of abstraction continued. Written documents replaced by actual objects and an acknowledgment of indebtedness can be used as an instrument of payment.

One also finds in the 7th and 5th century B.C.E. the system of grouping in the form of partnerships formed to carry on banking transactions. The evidence of two partners namely Igibi and Maraschu is the best example of partnership banking. They were the names of families of important businessmen carrying out all the financial transactions.

In conclusion, during the 8th century, B.C.E. in ancient Mesopotamia civilizations recognized the concept of banking and its related processes. These early civilizations did take advantage of and felt the need for a medium of exchange and a means for securing their wealth. The nature of the society and the extent of individual liberty were of great use to the Mesopotamian civilization in the development of banking.

Another important factor for the development of banking in early Mesopotamia was good economic conditions by the level of local and central economic activity and of centralized provisions as well as the precarious state of trade and exchange. These are the important causes that gradually developed and assisted the banking industry or operations in the valley of Tigris and Euphrates in the 8th century B.C.E. it is from this period onwards that we can attribute, to some degree of precision, methods employed for banking. But we cannot trace the course of their primitive development in this region, but it may be presumed that under the influence of the oriental civilization temples and royal places were used as repositories for individual wealth and security. Thus the invention of banking by the Mesopotamian civilization is a remarkable gift to the world, from which the concept of banking started and later on spread to other countries and civilizations.

Sources:
F.W. Madden., Coins of the Jews, London, 1881.
https://openlibrary.org/works/OL14876250W/Coins_of_the_Jews
Primitive Money: In Its Ethnological, Historical and Economic Aspects. Einzig, Paul. 1949.
https://www.abebooks.com/first-edition/PRIMITIVE-MONEY-Ethnological-Historical-Economic-Aspects/30929812060/bd
Naik, Jimuta and Naik, Jimuta, Beginning of the Early Banking Industry in Mesopotamia Civilization from 8th Century B.C.E. (January 10, 2014).
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2377309

Here we can start at Proverbs 22:7 which states: “The rich ruleth over the poor, and the borrower is servant to the lender”
Thus, [Quote] “The rich ruleth over the poor: Usurps a dominion over them, and exercises it in a rigorous, oppressive, and tyrannical manner; otherwise they are generally the rich that rule, and if they rule well, in a lawful, gentle, and righteous manner, it is commendable; and the borrower [is] servant to the lender; being under obligation to him, he is forced to be subject to him, and comply with his humours, and do and say as he would have him; it was a happiness promised to the Israelites, that they should lend to many nations, but not borrow, ( Deuteronomy 15:6 ); compare with this (Nehemiah 5:4 Nehemiah 5:5).” [/EndQuote]

where Deuteronomy 15:6 states “For the LORD [Yahweh] thy God [Elohim] blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow, and thou shalt reign over many nations, but they shall not reign over thee.”

and we continue over to Deuteronomy 23:19-20 which states:
“Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest. You may charge a foreigner interest, but not a fellow Israelite, so that the LORD [Yahweh] your God [Elohim] may bless you in everything you put your hand to in the land you are entering to possess.”

continuing on, Exodus 21:20-21 which states:
“And if a man smite his servant, or his maid, with a rod, and he die under his hand; he shall be surely punished. Notwithstanding, if he continues a day or two, he shall not be punished: for he is his money.”

as well as Leviticus 25:44-46 which states:
“As for your male and female slaves whom you may have: you may buy male and female slaves from among the nations that are around you. You may also buy from among the strangers who sojourn with you and their clans that are with you, who have been born in your land, and they may be your property. You may bequeath them to your sons after you to inherit as a possession forever. You may make slaves of them, but over your brothers the people of Israel you shall not rule, one over another ruthlessly.”

and Titus 2:9-10 which states:
“Slaves are to be submissive to their own masters in everything; they are to be well-pleasing, not argumentative, not pilfering, but showing all good faith, so that in everything they may adorn the doctrine of God our Savior.”

then we can look at 1 Peter 2:18 which states:
“Servants, be subject to your masters with all respect, not only to the good and gentle but also to the unjust.”

and Colossians 3:22 which states “Slaves, obey in everything those who are your earthly masters, not by way of eye-service, as people-pleasers, but with sincerity of heart, fearing the Lord.”

and Luke 12:47-48 which states:
“And that servant who knew his master’s will but did not get ready or act according to his will, will receive a severe beating. But the one who did not know, and did what deserved a beating, will receive a light beating. Everyone to whom much was given, of him, much will be required, and from him to whom they entrusted much, they will demand the more.”

Additionally, we then see the following, referring to taxation (obligatory offering) in a tithe of the percentage of X number stated in Leviticus 3 as:
[Quote] “‘If your offering is a fellowship offering, and you offer an animal from the herd, whether male or female, you are to present before the LORD [Yahweh] an animal without defect. You are to lay your hand on the head of your offering and slaughter it at the entrance to the tent of meeting. Then Aaron’s sons the priests shall splash the blood against the sides of the altar. From the fellowship offering you are to bring a food offering to the LORD [Yahweh]: the internal organs and all the fat that is connected to them, both kidneys with the fat on them near the loins, and the long lobe of the liver, which you will remove with the kidneys. Then Aaron’s sons are to burn it on the altar on top of the burnt offering that is lying on the burning wood; it is a food offering, an aroma pleasing to the LORD [Yahweh]. “ ‘If you offer an animal from the flock as a fellowship offering to the LORD [Yahweh], you are to offer a male or female without defect. If you offer a lamb, you are to present it before the LORD [Yahweh], lay your hand on its head, and slaughter it in front of the tent of meeting. Then Aaron’s sons shall splash its blood against the sides of the altar. From the fellowship offering you are to bring a food offering to the LORD [Yahweh]: its fat, the entire fat tail cut off close to the backbone, the internal organs and all the fat that is connected to them, both kidneys with the fat on them near the loins, and the long lobe of the liver, which you will remove with the kidneys. The priest shall burn them on the altar as a food offering presented to the LORD [Yahweh]. “ ‘If your offering is a goat, you are to present it before the LORD [Yahweh], lay your hand on its head and slaughter it in front of the tent of meeting. Then Aaron’s sons shall splash its blood against the sides of the altar. From what you offer you are to present this food offering to the LORD [Yahweh]: the internal organs and all the fat that is connected to them, both kidneys with the fat on them near the loins, and the long lobe of the liver, which you will remove with the kidneys. The priest shall burn them on the altar as a food offering, a pleasing aroma. All the fat is the LORD’s [Yahweh’s]. “ ‘This is a lasting ordinance for the generations to come, wherever you live: You must not eat any fat or any blood.’ ” [/EndQuote]

Thus as you can see above, taxation is originally described in the bible. Here we can clearly see, the Old Testament as well as the New Testament of the Christian Bible, setting the stage for both physical and financial Slavery, Lending Money & Banking as well as Taxation. Thus, the biblical source for our current financial system is clearly defined in the Christian bible which was written well BEFORE the Templars had entered into any kind of financial or banking work and certainly well BEFORE the Templars even existed.

The Templars were founded in 1119 AD and existed for nearly two centuries during the middle ages, before the death of the last Grand Master, Jacques DeMolay.

Therefore it is quite clear that the claims made by the Christian Extremists as well as so-called mainstream sources such as the BBC (who jumped on the conspiracy theorist bandwagon) have now been completely debunked and rendered nonsense, but also clearly shows that the origin of banking seems to have clearly originated in ancient Mesopotamia as well as it being repeated/confirmed, in the Christian Bible, which has set the stage for loaning money with interest as well as taxation to the state (or Yahweh/YHWH in the context of the bible) under the umbrella of financial slavery. As far as taxation in the biblical context was concerned, taxation was used under another name/phrase which was an ‘obligatory offering’ to Yahweh [LORD] the Elohim [God] and covered many facets of human life.

In conclusion, it is clear that if the Christian Extremist community wants to blame someone for their current complaints and woes regarding the current financial situation of our civilization, yet, they need only look no further than their own Christian Bible which has clear and detailed information about the basics of our current financial system, rather than using the inane nonsense claim it was the Templars that started banking or who is to blame for everything.

As the wise old saying states “Don’t throw stones in Glass Houses” !!!

This claim is now 100% Debunked… and some…