Question

Write a short note on the bankers and moneylenders of the 18 century-political formation.

Answer 1

Dear Student

In the 18th century merchants were more influential than banks . They provided loans at higher interest rates . But most people were uneducated and hence usually fell in a debt trap of money lenders . Later on when people started to get educated they understood the importance of banks and started to take advantages of lower interest rates , subsidies given by banks .

Regards .