The Knights Templar Invented the Modern Cheque to Protect Pilgrims Travelling to Jerusalem

For medieval Christians, the pilgrimage to Jerusalem carried the same sacred obligation that Mecca carries for Muslims today - a journey undertaken once in a lifetime to walk the ground where the central events of the faith had occurred. It was also extraordinarily dangerous. The roads were controlled by bandits, and any pilgrim carrying money for the journey was a target.
The Templar Order solved this problem with a system that Timothy Hogan identifies as the origin of modern banking. A pilgrim departing from London could deposit their money at the local Templar commandery and receive in exchange a special written note - effectively a letter of credit. Upon arriving in Jerusalem, they would present that note at the commandery there and receive their money back, minus a small handling fee. The gold never travelled with the pilgrim. The risk of robbery was eliminated. The Templar network of commanderies spanning Europe and the Holy Land functioned as the infrastructure, and the accumulated small fees across thousands of pilgrims over decades built the financial foundation of one of the wealthiest institutions in the medieval world.

Tim Hogan's latest Templar Tuesday is live — watch it here and catch the full playlist: https://www.youtube.com/@grandmasterhogan/playlists

Видео The Knights Templar Invented the Modern Cheque to Protect Pilgrims Travelling to Jerusalem канала Timothy Hogan