factions- the Ricci, Albizzi, Medici, Ridolfi, Pazzi, Pitti,
Strozzi, Rucellai, Valori, Capponi, Soderini- for control of the
government. From 1381 to 1434, with some interruptions, the Albizzi
maintained their ascendancy in the state, and valiantly protected
the rich against the poor.
The Medici family can be traced back to 1201, when Chiarissimo de'
Medici was a member of the Communal Council. *05010 Averardo de'
Medici, great-great-grandfather of Cosimo, founded the fortune of
the family by bold commerce and judicious finance, and was chosen
gonfalonier in 1314. Averardo's grandnephew, Salvestro de' Medici,
gonfalonier in 1378, established the popularity of the family by
espousing the cause of the rebel poor. Salvestro's grandnephew,
Giovanni di Bicci de' Medici, gonfalonier in 1421, further endeared
the family to the people by supporting- though he himself would suffer
heavily from it- an annual tax ( catasto ) of one half of one per cent
on income, which was reckoned at seven per cent of a man's capital
(1427). `050312 The rich, who had previously enjoyed a poll or head
tax merely equal to that paid by the poor, vowed vengeance on the
Medici.
Giovanni di Bicci died in 1428, bequeathing to his son Cosimo a good
name and the largest fortune in Tuscany- 179,221 florins
($4,480,525?). `050313 Cosimo was already thirty-nine years old, fully
fit to carry on the far-flung enterprises of the firm. These were
not confined to banking; they included the management of extensive
farms, the manufacture of silk and woolen goods, and a varied trade
that bound Russia and Spain, Scotland and Syria, Islam and
Christendom. Cosimo, while building churches in Florence, saw no sin
in making trade agreements, and exchanging costly presents, with
Turkish sultans. The firm made a specialty of importing from the
East articles of little bulk and great value, like spices, almonds,
and sugar, and sold these and other products in a score of European
ports.
Cosimo directed all this with quiet skill, and found time left for
politics. As a member of the Dieci, or War Council of Ten, he guided
Florence to victory against Lucca, and as a banker he financed the war
by lending large sums to the government. His popularity excited the
envy of other magnates, and in 1433, Rinaldo degli Albizzi launched an