Francesco Datini

Francesco Datini (born c. 1335, Prato, near Florence [Italy]—died Aug. 16, 1410, Prato) was an Italian international merchant and banker whose business and private papers, preserved in Prato, constitute one of the most important archives of the economic history of the Middle Ages.

Datini lost both parents, two brothers, and a sister in Prato to the Black Death of 1348. After a year of apprenticeship to a Florentine shopkeeper, he went in 1350 to Avignon, France, where the wealthy papal court was in exile. Remaining there for 32 years, he made his fortune by trading in armour, cloth, religious articles, paintings imported from Florence, jewelry, and other objects.

When the papacy returned to Italy in 1378, Datini followed, moving back to Prato, where he opened a cloth manufacturing and importing business. In 1386 he transferred his headquarters to Florence, continuing to maintain a branch in Avignon. He also opened a series of other offices in Italy and Spain and transacted business in Brugge (Bruges) and London. He diversified his interests, joining the silk-merchants’ guild of Florence, underwriting insurance, and opening a bank.

When the Black Death again struck Florence at the end of the 14th century, Datini fled to Bologna, then returned to Prato, where he spent the rest of his life. In 1870, during alterations to the house in which he had lived, his letters, documents, and account books were discovered in a pile of sacks stuffed into a disused stairwell; included were some 150,000 letters, more than 500 account books and ledgers, 300 deeds of partnership, 400 insurance policies, and thousands of miscellaneous commercial documents.