Cambism

/ˈkæmbɪzəm/ noun

Definition

The practice or system of currency exchange and financial dealing through bills of exchange.

Etymology

From 'cambio' (exchange) plus '-ism' (a system or practice). A historical financial term used in banking and commerce.

Kelly Says

Cambism was how medieval and Renaissance merchants moved money across Europe without carrying gold. A merchant in London could give a cambio bill to someone, who'd exchange it for local currency in Venice—an early form of banking!

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