When a coin in the coffer rings

Commercial Jingles and advertising slogans weren’t invented in the radio and television era. They have been around much longer. One of the most infamous commercial jingles in attributed to Johann Tetzel. Tetzel was a marketing guru, a top-earning salesman. He only sold bits of paper, but what he actually sold was false hope. In 1517 his sales pitch grabbed the attention of Martin Luther. Tetzel’s jingle was “as soon as the coin in the coffers ring, the soul from purgatory springs.” Tetzel was selling papal indulgences, which, he claimed, could either shorten your stay in purgatory or the stay of a loved one. Behind Tetzel selling indulgences was a complicated financial scheme.

Pope Leo X (of the infamous Medici family) needed money to complete the new St. Peter’s Basilica in Rome. He had spent the church’s wealth on carnivals, wars, gambling and even hunting. To raise funds, he struck a deal with Albert of Brandenburg. Albert wanted to be the archbishop of Mainz. The problem was Albert already held two other bishoprics (which he obtained illegally because he was not then old enough), but to hold third was not legal. Albert offered seven thousand gold coins for the title, to which the Pope agreed. All Albert needed to do was raise the funds up front. He went to a German bank. The bank agreed to lend him the money on the condition that the pope would back the loan. So the bank, Albert and the pope agreed that the pope would authorize the sale of indulgences. The income generated would be split between the pope and the bank. Of course, the pope already got his money, the money generated from the sales would be extra income.

They all turned to Johann Tetzel to sell these promissory notes of forgiveness, signed by the pope himself. This type of abuse is what drove Martin Luther to nail his 95 points of contention to the church door.