[The Knightly Hub] The Knights Templar: Bank and Bust

 The Knights Templar: Bank and Bust

    One notable thing about the Knights Templar is their method of handling finances, often credited as the first instance of a modern banking system. The Templars were a wealthy order, the wealthiest of all, in fact. However, under an oath of poverty, the members themselves continued to represent the Order's original image of a poor man. There were countless regulations prohibiting displays of wealth among the Templar knights alongside items such as "*We prohibit pointed shoes and shoe-laces and forbid any brother to wear them… For it is manifest and well known that these abominable things belong to pagans" (Holland). 

    The Templar's economic influence stretched from the Crusader States in Jerusalem to Cyprus and the London area. They owned land across Europe from donations written in the wills of nobility, making their sphere of influence more concrete and allotting space for the construction of dormitories and economic hubs. Not only were they bankers, but they had their own shipping line to facilitate the movement of goods and information. The Templars became incredibly trusted among western powers, so much so that King John of England deposited the crown jewels with the Templar's London bank while battling against the Magna Carta. 

    Throughout the 1200s, the Templars functioned as a sect of the French Treasury. They took up the responsibility of paying royal workers on behalf of the King and his family. The Templars also collected taxes from France, the church of England, Hungary, Spain, and Italy as requested by the Pope. Again, we note Omne Datum Optimum (1139), which left the Templars subject to no authority sans the current pope.

    Unfortunately, their affiliations with the French monarchy would come to bring their demise. Crusading had become increasingly expensive over the decades, as many knights served for pay rather than a conviction in the cause. Additionally, the hand accumulating armies shifted from lords to kings themselves, who were often preoccupied with issues in their homeland, making Jerusalem seem less important. Areas such as Acre became plagued with crime due to an influx of undesirables. Each new crusade seemed more unsuccessful than the last. Crusader States began to collapse as Orders lost the desire and means to hang onto their Eastern claims.

    The Templars watched other organizations leave; notably, the Teutonics shifted their focus to the Baltics, and the Hospitallers relocated to Rhodes in 1308. Around that same year, Philip IV ordered the arrest of all French Templars. The new pope, Pope Clement V, had little to no desire to uphold Omne Datum Optimum, leaving the Templars no choice but to comply with the French government. The monarchy had fallen into debt, owing a significant sum to the Templars. In addition, many powers were jealous of the economic authority wielded by what was initially just a military force.

    A year earlier, the king had sent spies to live among the ranks of the Templars, spreading copious dark rumors and forming a list of allegations against the Order. The king used this to justify his call for arrest, stripping the men of their properties. The Templars were imprisoned and often tortured until they confessed to crimes such as heresy, homosexuality, spitting on the cross, and worshipping idols. They were faced with a threat comparable to the witches of Salem: confess or die. (Some Templars adamantly refused to confess to crimes which they did not commit and passed during torture.) Pope Clement V abolished the order in 1312, but the torture continued until 1314 when grand master Jacques de Molay was burned at the stake.

    As far as Papal recognition is concerned, 1312 was the official end of the Poor Fellow Soldiers of Christ and of the Temple of Solomon, or the Knights Templar. The Order's finances and assets were passed on to the Knights Hospitallers, the Templar's largest rival and ally. The modern Templars argue that the pope did not have the authority to abolish their order "because the Pope did not create them; the Knights Templar existed on their own for eleven years before the Pope officially gave them ecclesiastical recognition" (Templar Church). However, based on my personal analysis, I would not consider the Templars a valid knightly order any longer, rather, a very involved club. This is simply due to the fact that the Knights Templar are no longer awarded by the Vatican and thus cannot stand alongside enduring orders with authority. Thus, the Templars are inherently reduced to an ordinary religious charity. 

- - - - - - -

Further reading:

Daugherty, Greg. “Why the Knights Templar Gave False Confessions of Depravity.” History.com. © 2020 A&E Television Networks, LLC. All Rights Reserved. 5 March 2019. Accessed 14 October 2020. <https://www.history.com/news/knights-templar-downfall-confessions-torture>.

Holland, Brynn. “The Knights Templar Rulebook Included No Pointy Shoes and No Kissing Mom.” History.com. © 2020 A&E Television Networks, LLC. All Rights Reserved. 15 December 2017; Updated 5 March 2019. Accessed 14 October 2020. <https://www.history.com/news/the-knights-templar-rulebook-included-no-pointy-shoes-and-no-kissing-mom>.

Teodorczuk, Tom. “The Knights Templar: Military order or the first financial-services company?” MarketWatch: Entertainment. Copyright © 2020 MarketWatch, Inc. All rights reserved. 28 September 2017. Accessed 14 October 2020. <https://www.marketwatch.com/story/how-the-knights-templar-became-the-worlds-first-financial-services-company-2017-09-26>.

Templar Church. “Abolished.” The Knights Templar. Copyright Templar Church all Rights Reserved, 2014. Exact publication unknown. Accessed 14 October 2020. <https://www.theknightstemplar.org/templars-disbanded/>.