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Hammurabi
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Hammurabi was the ruler who chiefly established the greatness of Babylon, the world's first metropolis. Hammurabi (ca. 1792 - 1750 BC) united all of Mesopotamia under his forty-three year reign of Babylon. On his accession, the country was divided into several small warring states. He succeeded in uniting them and in creating a large empire which extended northward from the Persian Gulf through the Tigris and Euphrates river valleys and westward to the coast of the Mediterranean Sea.
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The Code of Hammurabi was one of many sets of laws in the Ancient Near East. Most of these law codes, coming from similar cultures and racial groups in a relatively small geographical area, necessarily have passages that resemble each other. For example, the laws found in the later Hittite code of laws (ca. 1300 BC) have some individual laws that bear a passing resemblance to those in the Code of Hammurabi, as well as other codices from the same geographic area. The earlier Ur-Nammu, of the written literature prolific Ur-III dynasty (21st century BC)... produced a code of laws, some of which bear resemblance to certain specific laws in the Code of Hammurabi. The later Mosaic Law (according to the modern documentary hypothesis ca. 700-500 BC - under Hezekiah/Josiah; traditionally ca. 1200 BC - under Moses) also has some laws that resemble the Code of Hammurabi, as well as other law codes of the region.
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After a while, Hammurabi and the Mesopotamians went the way of extinct civilizations, but Accounts receivable loan endured. Essentially every civilization that valued commerce has practiced some type of invoice factoring, including the Romans who were the first to sell actual promissory note at a discount. The first generally accepted, documented use of Business factoring developed in the American colonies before the revolution. All through this time, cotton, furs and timber were shipped from the colonies. Merchant bankers in London and other parts of Europe committed funds to the colonists for these raw materials, before they reached the continent. This let the colonists to keep on to harvest their new land, free from the burden of waiting to be paid by their European customers.
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Ultimately, Hammurabi and the Mesopotamians went the way of extinct civilizations, but Factoring loan endured. Pretty near every civilization that valued commerce has practiced some brand of Account receivables loan, including the Romans who were the first to sell actual promissory note at a discount. The first wide-extended, documented use of Receivable funding developed in the American colonies before the revolution. Amid this time, cotton, furs and timber were shipped from the colonies. Merchant bankers in London and other parts of Europe transferred funds to the colonists for these raw materials, before they obtained the continent. This allowed the colonists to keep up to harvest their new land, free from the burden of waiting to be cash by their European customers.
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Hammurabi is best known for the promulgation of a new code of Babylonian law รข€“ the Code of Hammurabi. This was written on a stele, a large stone monument, and placed in a public place so that all could see it, although it is thought that few were literate. The stele was later plundered by the Elamites and removed to their capital, Susa; it was rediscovered there in 1901 and is now in the Louvre Museum in Paris. The code of Hammurabi contained 284 laws, written by scribes on 12 tablets. Unlike earlier laws, it was written in Akkadian, the daily language of Babylon, and could therefore be read by any literate person in the city.[17]
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Using 51 columns of cuneiform script, Hammurabi's stele is engraved in the Babylonian language of Akkadian. It originally stood in Babylon's temple of Marduk. At the top of the stele is Hammurabi, standing on a sacred mountain before Shamash, the sun god and patron of law and justice. Hammurabi's right hand is raised in front of his face, in prayer. Note the flames (of the sun) on the shoulders of Shamash as he gives Hammurabi the laws.
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Hammurabi