Difference between revisions of "Cassa peota (Italy)"

First regulated by the Italian law only in 1999, the practice kept its informal character for most part of its long history. It dates back to the fifteenth century and appears on written records related to Lorenzo Giustiniani, the bishop and patriarch of Venice between 1433 and 1456 (Tramontin 1985). ''Cassa peota'' began to operate in the Venice lagoon and the surrounding areas to connect the needs of two key lower class social groups: small business owners (artisans and merchants) and the oarsmen who rowed the ships of the Venetian Republic (Cacciavillani 2013: 127-129).  

First regulated by the Italian law only in 1999, the practice kept its informal character for most part of its long history. It dates back to the fifteenth century and appears on written records related to Lorenzo Giustiniani, the bishop and patriarch of Venice between 1433 and 1456 (Tramontin 1985). ''Cassa peota'' began to operate in the Venice lagoon and the surrounding areas to connect the needs of two key lower class social groups: small business owners (artisans and merchants) and the oarsmen who rowed the ships of the Venetian Republic (Cacciavillani 2013: 127-129).  

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For long time one of the most thriving metropolis of Europe, Venice offered great opportunities to artisans and businessmen. In times of crisis, however, small businesses were at risk of being put in prison because of debts; this led to a vicious circle, as prisoners were unable to earn the money necessary to regain their freedom (Cacciavillani, 2013: 127-129). Oarsmen faced a mirrored problem. Their job was poorly paid, but they were allowed to trade everything they could store under their seat. With some luck, good investments and access to Venetian markets – the best in the world – this personal trade could generate a small fortune (Lane 1978: 62-64, 201). On their return to the capital, having sold their merchandise, the oarsmen needed a way to store their money safely, before heading abroad again for months-long periods (Cacciavillani 2013:124-127).

For long time one of the most thriving metropolis of Europe, Venice offered great opportunities to artisans and businessmen. In times of crisis, however, small businesses were at risk of being put in prison because of debts; this led to a vicious circle, as prisoners were unable to earn the money necessary to regain their freedom (Cacciavillani, 2013: 127-129). Oarsmen faced a mirrored problem. Their job was poorly paid, but they were allowed to trade everything they could store under their seat. With some luck, good investments and access to Venetian markets – the best in the world – this personal trade could generate a small fortune (Lane 1978: 62-64, 201). On their return to the capital, having sold their merchandise, the oarsmen needed a way to store their money safely, before heading abroad again for months-long periods (Cacciavillani 2013:124-127).

''Casse peota'' met these two necessities: oarsmen deposited their wealth safely, while small business owners were granted loans to avoid prison, on the condition that they made weekly payments, called ''“carato''”, which gradually repaid the debt. Failure to do so would mean imprisonment (Cacciavillani, 2013:127-129). The well-known and respected ship pilots were the guarantors of this system. The pilots were often more important to the everyday life of Venetian vessels than the ship captains and they enjoyed great respect among the lower classes of the city. An early interpretation of the name of this practice is associated with their role: “''peota''” is the Venetian term for “pilot”, while “''cassa''” can be translated with "fund" or "bank", like in "cassa comune", standing for the common fund of money (Ragazzini 2007).

''Casse peota'' met these two necessities: oarsmen deposited their wealth safely, while small business owners were granted loans to avoid prison, on the condition that they made weekly payments, called ''“carato''”, which gradually repaid the debt. Failure to do so would mean imprisonment (Cacciavillani, 2013:127-129). The well-known and respected ship pilots were the guarantors of this system. The pilots were often more important to the everyday life of Venetian vessels than the ship captains and they enjoyed great respect among the lower classes of the city. An early interpretation of the name of this practice is associated with their role: “''peota''” is the Venetian term for “pilot”, while “''cassa''” can be translated with "fund" or "bank", like in "cassa comune", standing for the common fund of money (Ragazzini 2007).

In 1913, a survey conducted in Venetian ''osterie'', recorded 385 ''casse'' corresponding to 11,487 associates (Casellato 2002: 1594). ''Osterie'', the local traditional taverns and a pillar of the sociability of the working classes of the city, were central for the development of the practice (Buonanno 2014: 80). Four decades later, a short survey published in the local media estimated the number of ''casse'' to exceed one thousand (Dell'Oro 1959). A medium-sized ''cassa'' in the 1950s held around thirty people, and the  purpose of a ''cassa'' was, same as in the past centuries, to provide loans at very low rates to their associates, or to make cautious investments (Casellato 2002:1594-1596).

In 1913, a survey conducted in Venetian ''osterie'', recorded 385 ''casse'' corresponding to 11,487 associates (Casellato 2002: 1594). ''Osterie'', the local traditional taverns and a pillar of the sociability of the working classes of the city, were central for the development of the practice (Buonanno 2014: 80). Four decades later, a short survey published in the local media estimated the number of ''casse'' to exceed one thousand (Dell'Oro 1959). A medium-sized ''cassa'' in the 1950s held around thirty people, and the  purpose of a ''cassa'' was, same as in the past centuries, to provide loans at very low rates to their associates, or to make cautious investments (Casellato 2002:1594-1596).