A study of factoring in the sixties

The word "factor" is derived from the Latin verb "facere" meaning "to make or do." Literally speaking, a "factor" is one who gets things done or accomplishes things. Altliough it was used by the Romans and Babylonians as a means of distributing agricultural products and was sanctioned by the Hammurabbi Code, there is no oficial record of its specialization in a business sense until 1397 with the formation of Blackwell Hall. The importance of this organization as an agent was noted by grievances against it, not from a cost viewpoint but rather a political one. As was noted in a study made by The Economic History Review, the major complaint was "...the pov/er of a factor to make or mar the fortunes of the clothiers who dealt with him."