Saturday, April 15, 2017

Financing the Crusades - Papal support

"The privileges of popes and princes for the crusaders reveal the great importance of credit arrangements in financing the crusades. From the First Crusade on the popes took not only the persons of the crusaders and their families but also their property under papal protection. Crusaders who found it difficult to secure the return of pledged lands were able thus to call upon the church for help. ...

(Pope) Eugenius III in 1145 conceded to crusaders the privilege of pledging lands, even fiefs, without the consent of relatives or lords, if the latter were not themselves willing to lend the money needed. At the same time Eugenius granted crusaders a moratorium on repayment of debts and sought to free them from the payment of interest on loans while they were under the cross"
Quotes from Zacour, N. P.; Hazard, H. W. (ed.) / The impact of the Crusades on Europe (1989), Chapter IV, "Financing the Crusades". The quotes presented here focus on the situation in the first half of the 12th century. Illustration: Pope Eugene III from this source

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