Rialto Square

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 [it], 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.

By the end of the 15th century, there were three major markets in Venice: the first Saturday of each month at Rialto, the second Saturday at San Marco, and the third at Campo San Giovanni in Bragora; among these, the Rialto always was the most important commercial center. Trading took place not only al minuto but also in large lots, prices were set, imports and exports were regulated, and ships were chartered. In addition to the trade in fish and vegetables, there was a commodity exchange where gold and silver were mainly traded.

The state supervised and directed all transactions. For trade with the rest of Italy, the Dogana di Terra imposed a tax on every shipment of fabric, oil, wine, flour, millet, or beans. The Fondaco della Farina was a large state-run store where families could shop and provide for themselves, but only for a period of one month to prevent hoarding and speculation. Bakers also stocked up on flour at Rialto.

The state rented the traders a "stazio", namely an outdoor stall with a bench in front, a wooden shed behind, and the whole covered with a tarpaulin. There were also itinerant traders who, unlike stall holders, did not have to pay significant taxes and were tolerated by them because their modest trade in eggs, chickens, and some vegetables represented no material competition.

A disastrous fire devastated the area on 10 January 1514. The city government subsequently launched a competition to rebuild the area. After delays and controversy, Antonio Abbondi (also known as Scarpagnino) won and designed a square largely modelled on the earlier setting but with a standardized layout of shops, with a rational allocation of spaces. Bulky, perishable, or waste-producing goods such as fish, fruit, and vegetables were moved to the waterfront. Precious goods such as gold, silver, and spices were traded on the bridge and along the goldsmiths' alley leading to it, the ruga degli orefici. Financial activities remained on the square itself, also known as Campo San Giacomo for the eponymous church which had been spared by the fire. Public administration had offices on the upper floors of the square's palazzi.

The Rialto was devoted to trading, with no crafts or industries. All goods were brought in by boat and, after being inspected by tax officials, were unloaded and transported on by porters, the bastasi. These were only allowed to stay on the banks for the short time they needed to load, unload, or inspect the goods. The hustle and bustle on the canal side was thus filled with noise, shouts, and cursing, in contrast to the quiet of the square itself where the wealthy merchants and financiers concluded their deals.

Rialto square also hosted the draperia (cloth market) and the seat of the twelve Padri di Rivo Alto, who were responsible for market regulations. The Latin inscription on the church of San Giacometto reads: "hoc circa templum sit jus mercantibus aequum, pondera nec vergant, nec sit conventio prava" admonished the merchants in this place to practice their trade with decency, not to tamper with the scales, and not to cheat. If one of them was caught cheating, he would feel the whip at the Gobbo di Rialto, a 1541 sculpture by Pietro da Salò, and would have to "basar el Gobo", kiss the repulsive figure.^[2]