"Western civilization had minted precious metal objects and coins for trade since about 500 BC. Devaluation and inflation often destroyed a monetary system. Banking systems were cyclic with nations and rulers, and the need to transfer large sums of money to finance the Crusades provided a stimulus to the re-emergence of banking in western Europe. In Europe, the first issuer of paper money was Sweden, where in 1661 Johan Palmstruch's Stockholm Banco introduced the first banknotes. Unfortunately, the bank subsequently overextended itself and had to call in government aid. Despite this example, other European countries soon followed the Swedish lead. In 1694 the Bank of England was established and was soon printing "running cash notes".
They just didn't call it a bail out.
Plus ca change...
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