Medici Money: Banking, metaphysics and art in fifteenth-century Florence

Fra Angelico’s Coronation of the Virgin, one of the many paintings commissioned by Cosimo de’ Medici when he undertook the restoration of the monastery of San Marco. Six of the eight saints in attendance are Medici name saints, with St. Cosma turning to face the congregation in the foreground to the left, balanced by San Damiano on the right. Around the edge of the luxurious carpet run red balls on a golden field, the motif of the Medici family. The sacred space thus becomes more comfortable, for the rich.

WHEN THE RESTORATION of San Marco was finally finished in 1443, Pope Eugenius, now with his bags packed ready to return to a pacified Rome, agreed that the church should be reconsecrated under the name San Marco, San Cosma, and San Damiano. So Cosimo reminded everyone of his part in the project, but unobtrusively, as with the Good Men of San Martino. Not for him the gesture of the banker Giovanni Rucellai, who advertised his personal patronage by having his name written in yard-high letters right across the façade of Santa Maria Novella. All the same, an attentive observer would have noticed, in that San Marco altar-piece, a line of red balls around the lovely carpet on which the family name-saints knelt before the gorgeous Virgin. Were they really the red balls of the Medici family emblem? There were no Last Judgments in Cosimo’s San Marco. Discreetly, head bowed and cap in hand, the profane invaded the sacred space and made it comfortable.

Cosimo practiced the banker’s art of unobtrusive proximity. It wasn’t enough that men dedicated to poverty had accepted his money and its role in their scheme of things, thus giving tacit approval to his business practices; they must also admit him right into their community, accept that he was one of them. So he had a cell built for himself beside the monks’ cells. Except that Cosimo’s cell had two rooms. It was larger and pleasanter. Over the door, engraved in stone, were the words of the papal bull that granted him absolution from all sins in return for his expenses. Few eyes would see this, but Cosimo wanted it written down, indelibly, like a bank contract that only the interested parties need consult. “Never shall I be able to give God enough to set him down in my books as a debtor,” he remarked humbly of his huge outlay for San Marco. Yet clearly that was the kind of relationship he would have preferred.

Opposite the door of the first room of Cosimo’s cell, on a wall that novices might glimpse as they walked along the corridor, was one of Fra Angelico’s crucifixions. How could the monks not approve? But in the larger, private cell behind, with more expensive paints and stronger colors, Cosimo had the younger, more cheerful artist, Benozzo Gozzoli, assist Angelico in painting a procession of the Magi. It was Cosimo’s favorite biblical theme. He would be responsible for at least half a dozen such pictures in his lifetime. All in bright colors. Fifteen years after San Marco, around three walls of the tiny chapel in the heart of his great palazzo, he and his son Piero had the same Gozzoli paint a lavish Magi procession in which, for the few who penetrated that sanctum, Cosimo himself at last appeared in person, riding on a mule behind the youngest of the three Magi. Common to many of the Florentine elite, the Magi obsession is easily explained. What other positive images of rich and powerful men did the New Testament offer?

Gozzoli’s Adoration of the Magi (detail). Only in this fresco, painted around three walls of the tiny chapel in the heart of his great palazzo, did Cosimo at last allow himself to be depicted in a biblical scene. Typically unobtrusive, he wears black and rides a mule, while to his left (our right), son Piero is rather more magnificent on a white horse.