中世纪后期西欧社会筹资方式沿革概述

A Survey of Development of Financing Means in the Late Medieval Western Europe

中世纪以来,西欧深陷贵金属匮乏的困境,货币不足的现实迫使社会各阶层在筹资层面探求革新。货币经济复兴之初,土地贵族率先尝试抵押个人地产进行贷款以满足消费,后衍生出抵押地产收益的年金贷款。伦巴德和佛兰德城市时常面临财政上的入不敷出,被迫发行城市公债以做补贴。14世纪后集权君主制的普遍确立和科层制官僚体系的膨胀扩大了领地政府的财政支出,君主效仿或利用城市发行债券。为募集商业资本,伦巴德商人引入具有契约性质的合伙关系,后发展成组织体系更为完善的"合伙商会"。大商人家族则以造船业中盛行的"洛卡制"为基础,沿革出合股型商业公司。股份制自南向北传至尼德兰和英格兰后,逐渐塑造出现代股份公司的基本形式。

The shortage of precious metals in western Europe stimulated the financial system to transform itself. European so- ciety has innovated mmly kinds of financing means. The landlord class implemented a kind of cash debt with the estate for pawn firstly, in order to serve for their personal consumption, and then be developed into a kind of annuity debt. Because of more and more fiscal expenditure, the medieval towns prefer to implement public credit to get the cash. The absolutist monarch governments and bureaucratic system were built and expanded after 14th century and improved the demand for wealth. The monarch governments tried to issue the bends for financing, following with cities. In business, The merchants of Lombard adopted the Commanda firstly, then the Commanda was reformed to be a more outstanding partnership company, ＂Compangnia＂. Some great merchant companies had innovated a kind of ＂Share Company＂ to serve for long - distance trade with the basis of ＂Locum＂ that once was popular in shipbuilding. The share company was also imitated by other activity and be spread to Germany, the Netherlands and England, eventually developed into mature modern joint - stock company system.