Plague Dowries Created Florence's Bank

With the Black Death wiping out the population of Florence, there were fewer eligible bachelors, which increased the competition for husbands and drove up the dowries demanded by the groom’s family. In 1425 the Republic of Florence created Monte delle doti, a public fund to help families meet these escalating costs. When a girl reached an average age of five, her father deposited money that earned a guaranteed annual interest rate of 11 to 12 percent over seven and a half or 15 years. After she married and consummated the union, her husband could claim the matured dowry.

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