Messer Giovanni shares with Cavaliere Salvestro the undying fame of having raised, upon the excellent foundation laid by their ancestors, the massive supporting walls of that superb edifice, of which his son, Cosimo, formed the cupola, and his great-grandson, Lorenzo—­the lantern—­“the Light of Italy.”

The third and fourth “Grand” Medici were, of course, Cosimo, “Il Padre della Patria,” and Lorenzo, “Il Magnifico.”  The stories of their lives and exploits are to be read in the stories, the literature and the arts of Florence.  Of Cosimo, Niccolo Macchiavelli wrote as follows: 

“He applied himself so strenuously to increase the political power of his house, that those who had rejoiced at Giovanni’s death now regretted it, perceiving what manner of man Cosimo was.  Of consummate prudence, staid yet agreeable presence, he was liberal and humane.  He never worked against his own party, or against the State, and was prompt in giving aid to all.  His liberality gained him many partisans among the citizens.”

Born in 1389, he early evinced mercantile proclivities, and when a lad of no more than seventeen Messer Giovanni, his father, placed him in charge successively of several of the foreign agencies of the Medici bank.  Young Cosimo used his opportunities so well that he was looked upon as a successful financier, and came to be called “The Great Merchant of Florence!”

He was jokingly wont to say:  “Two yards of scarlet cloth are enough to make a citizen!” Nevertheless he had a deep regard for the opinions and privileges of his fellow Florentines.  One of his constant sayings was:  “One must always consult the will of the people”—­and “the people” replied by acclaiming him “Il Padre della Patria.”

Cosimo has been called “a great merchant and a grand party-leader:  the first of Florentines by birth and the first of Italians by culture.”  He died in 1464.  His father left in cash a fortune of nearly 180,000 gold florins, but Cosimo’s estate totalled upwards of 230,000—­circa L100,000—­a vast amount in those days!

After the strong personality of Cosimo and his masterful manipulation of commercial and political affairs, perhaps the unambitious rule of his son Piero was a necessary and healthful corollary.  Piero de’ Medici maintained the ground his father had made his own, and gave away nothing of the predominance of his family, and he made way, after a brief exercise of authority, for his brilliant son, Lorenzo.

Piero’s character and career again prove the truth of the adage:  “Ability rarely runs in two successive generations.”  All the same, he died in 1409, leaving his sons the heirs to nearly 300,000 gold florins!

Lorenzo, “Il Magnifico,” was the first of the “Grand” Medici to give up entirely all connection with commercial pursuits and banking interests.  His tenure of office, by a curious paradox, marks the termination of the financial liberties of Florence!  He was an all-round genius—­there was nothing he could not do—­and do well!  “Whatever is worth doing at all,” he was wont to say, “is worth doing well.”