From the instances here adduced, one may see that the first lending-houses were sanctioned by the pontiffs, because they only could determine to the Catholics in what cases it was lawful for them to receive interest. This circumstance seems to have rendered the establishment of them out of Italy difficult. At any rate the Protestants were at first averse to imitate an institution which originated at the court of Rome, and which, according to the prevailing prejudice of the times, it alone could approve; and from the same consideration they would not adopt the reformation which had been made in the calendar. The first mention of a lending-house in Germany, which I have as yet met with, is to be found in the permission granted by the emperor Maximilian I. to the citizens of Nuremberg, in the year 1498, to drive the Jews from the city, and to establish an exchange-bank. The permission further stated, “That they should provide for their bank proper managers, clerks, and other persons to conduct it according to their pleasure, or as necessity might require; that such of their fellow-citizens as were not able to carry on their trades, callings, and occupations without borrowing and without pledging their effects, should, on demand, according to their trade and circumstances, receive money, for which pledges, caution and security should be taken; that at the time of payment a certain sum should be exacted by way of interest; that the clerks and conductors of the bank should receive salaries for their service from the interest; and that if any surplus remained it should be employed for the common use of the city of Nuremberg, like any other public fund.” It here appears that the lending-houses in Germany were first known under the name of exchange-banks, by which was before understood any bank where money was lent and exchanged; but it does not thence follow, as Professor Fischer thinks[47], that they were an Italian invention. The citizens of Nuremberg had not then a lending-house, nor was one established there till the year 1618. At that period they procured from Italy copies of the regulations drawn up for various houses of this kind, in order to select the best. Those of the city of Augsburg however were the grounds on which they built, and they sent thither the persons chosen to manage their lending-house, that they might make themselves fully acquainted with the nature of the establishment at that place[48]. In the year 1591, the magistrates of Augsburg had prohibited the Jews to lend money, or to take pledges; at the same time they granted 30,000 florins as a fund to establish a lending-house, and the regulations of it were published in 1607[49].