However banking crises are nothing new. The earliest banks were in italy.

Piggy Bank Wikipedia

In the late 18th century many small banks were founded in the provincial towns.

When were banks invented. Most of these banks were merchant banks however. As lombardy merchants and bankers grew in stature based on the strength of the lombard plains cereal crops many displaced jews fleeing spanish persecution were attracted to the trade. The original banks were merchant banks that italian grain merchants invented in the middle ages.

In 1793 in 1814 1816 and in 1825 there were runs on banks when people lost confidence and tried to withdraw their money. Early attempts to create a national bank in 1781 an act of the congress of the confederation established the bank of north america in philadelphia where it superseded the state chartered bank of pennsylvania founded in 1780 to help fund the war. Some of the earliest forms of brokering took place in these banks.

Again this was a lot about crop loan and for financing expeditions across the silk routes. It is actually from around this time that bankruptcy started to spring up. The first traveler s cheques were issued in england in 1772.