Rialto Square

Rialto Square (Italian: Piazza di Rialto), also known as Campo San Giacomo di Rialto or Campo San Giacometto, is a public space in the Rialto neighborhood of Venice. It is connected to the Rialto Bridge by the ruga dei Oresi (also known as ruga degli Orefici), flanked by the church of San Giacomo di Rialto and the two main former seats of financial administration of the Republic of Venice, respectively the Palazzo dei Camerlenghi and the Palazzo dei Dieci Savi. It also connects via covered passages to the Rialto Market on the banks of the Grand Canal.

For centuries, Rialto Square was the center of financial activity in Venice, including from 1587 the city's two public banks, Banco della Piazza di Rialto and Banco del Giro. Benches (Italian: banchi) on the square were owned by the city government and rented to individual bankers (banchieri), who took deposits from merchants and lent to the city government. Money changers formed a separate community that operated across town near St Mark's Campanile, a separation of roles that was unique to Venice among Mediterranean merchant republics.

History

Originally, the Venice market was held on Saturdays in the large square of Olivolo in Castello. Especially in the early days, it was known for the lack of taxes and other public charges, and in this way it was able to compete with the markets of Pavia and Campalto, then among the most important in Italy. When the government took shape in the 9th century, the Rialto became the driving force in the development of Venetian trade, with the establishment of a fish and vegetable market.

Since 1300, the bells of San Giacomo have signaled the opening and closing of the market, known as the Banco.