chapter10-part 1 growth of trade and towns
DESCRIPTION
TRANSCRIPT
Reshaping of Medieval Europe
Chapter 10 Part 1
FACTORS THAT LEAD TO REVIVAL OF TRADE
Routes
1. Northern• Silk Road
2. Central Route• Land and Sea
3. Southern Route• Red Sea
Markets and Fairs
Fair•Regional/international• annual •West meets East
Market• Primary center for local
trade• Merchants/peasants sold
their stuff
Fairs
West• Wool• Grain
• Timber• fish
East• Spices
• Silk• Gems
• Cotton/linen• Rugs• dyes
$$ and Banking
Help trade
Every lord minted own
coins
Standard value of goods
Moneychangers knew value
of coins
Banking
Money Changers
Knew value of coins
Kept money for
merchants
Money lenders
Letters of credit
(checks)
Church and Business Practices
Discouraged economic activity
Poverty = virtue
Viewed merchants and traders with suspicion
Wealth brings corruption
“just price” = price that included cost of material, labor and reasonable profit
“usury” = charge interest for use of money borrowed
MedievalChurch
FACTORS THAT LEAD TO GROWTH OF TOWNS
Growth of TownsTowns = places of trade
Revived TradeIncrease in agriculture productivity
Better Farming(Better tools means less people needed)
Guilds
Increase in people’s freedomsEmergence of new social class (middle)
Charter = privileges granted to a town by the feudal lord; outlined rights of the townspeople
Freedom after 1 year in town
Don’t have to work
land (money)
Town Justice
Buy/sell freely
Guilds
Regulate business activity
Security-profits-aid-charity
Merchant (fixed prices)
Craft (regulate hours, wages, etc)
3 Classes in Guild
Apprentice • Young boy• Enters house of
master• Work in exchange
for food, home and training(up to 7 yrs.)
Journeyman• Seek employment
and wages• In shop of master
MasterCraftsman• Needs experience
and $$$ to open own shop
• Exam, and show sample work (masterpiece)
• Take oath to follow rules of guild
New Social Class• Freedom • Money• Energetic• Independent• Mobile• Growing in power
and importance• Bothered Nobles
• Decline of Feudalism
• No more wealth by birth or land
• Money can be made and invested
• Many merchants lived like lords
Town Life