Question

Do you think merchants and bankers today have the kind of influence they had in the eighteenth century?

Answer 1

During the 18th century merchants were more influential than the bankers. They used to provide more loan opportunities at higher interest rates. But now, with the spread of education people prefer banks which provide loans and other financial assistance at cheaper rates. Bankers also provide subsidy on the interest rate. They have different scopes of loans for different purposes. So they are more influential today than the merchants.