The Children of Adam and Eve

Medici, Cosimo de' (1389-1464), Italian banker and statesman. Known as
Cosimo the Elder, he succeeded his father, Giovanni (1360-1429), as
director of the family's successful commercial and banking interests and
as leader of the popular faction in Florentine politics. Exiled by the
ruling aristocratic party in 1433, he was recalled the following year and
then assumed virtual control of the government; he secured his position by
banishing some of his enemies and ruining others by excessive taxation. A
shrewd politician, Cosimo avoided holding public office himself, governing
instead through supPorters and dependents. His financial acumen benefited
both Florence and his family, and he was probably the wealthiest man in
contemporary Italy.

Cosimo encouraged agriculture, the silk industry, and commerce and sought
to maintain peace in Italy by a balance of power among the major states
and by preventing foreign interference. He actively patronized artists,
architects, and scholars and amassed a fine humanist library. His public
building program set a standard imitated by his family and other rulers.