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In 1450, Johannes Gutenberg entered into an agreement with one Johann Fust, a Mainzer goldsmith and guildsman, to borrow a staggering 800 Rheingulden at 6 percent interest. Gutenberg’s sales pitch must have been convincing, for Fust would later testify that he himself had borrowed money in order to fund the loan. Gutenberg sank the money into his workshop and promptly defaulted upon the interest payments. Fust must have been incandescent in his rage, and yet, two years later, as recorded in the inevitable court judgment, he would go on to lend Gutenberg another 800 Rheingulden on the condition that Gutenberg take on Fust’s adopted son, Peter Schöffer, as his foreman. Gutenberg assented, Schöffer was hired, and Fust paid out the second loan.
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