Pósitos

Pósitos, a Spanish term, refers to various types of public or charitable institutions historically established in Spain and its former colonies. These institutions often served a dual purpose, providing financial assistance and acting as a repository for goods. The most common form of a pósito was a grain loan bank, a type of mutual aid society designed to help farmers. These grain banks would lend out seeds or grain during times of scarcity or to farmers in need, to be repaid after the harvest, often with a small interest. This system helped to stabilize food prices and prevent widespread famine.

Beyond grain, some pósitos also dealt with other commodities or even money. They could function as pawnshops, offering loans against collateral. The establishment and management of pósitos were typically overseen by local authorities, religious orders, or charitable organizations. They played a significant role in the economic and social fabric of communities, acting as a safety net for the less fortunate and contributing to agricultural stability. While their prevalence has diminished with the advent of modern financial institutions and social welfare programs, the concept of the pósito represents an important precursor to contemporary forms of public finance and social support.