The Revival of TradeThe Revival of Trade

C14, S2 pp. 323-326

Objectives

• Explain the factors that led to revival of trade in Europe

• Describe goods traded in Europe & explain why fairs began

• Identify important business developments that resulted from the growth of trade

The CrusadesThe Crusadesstimulated tradestimulated trade

Flanders became a Flanders became a meeting center ofmeeting center of

different trade routesdifferent trade routes

The HanseaticThe HanseaticLeague set upLeague set uptrading poststrading posts

Viking ships broughtViking ships broughtAsian goods toAsian goods to

Northern EuropeNorthern Europe

Italian ships broughtItalian ships broughtgoods back fromgoods back from

AsiaAsia

Revival of Trade

Trade RoutesTrade Routes• Trade began to grow again in Europe

because of the Crusades– ItalyItaly- ideal for trading because of location

between northern Europe and southwest Asia

Trade Goods & Markets

• Trade Goods & MarketsTrade Goods & Markets-- Crusades increased Europeans’ demand for “exotic” goods from Asia

Asia EuropeDyes Fish

Medicine Fur

Silk Timber

Spices Leather

Cotton Cloth Woolen Cloth

Linen Soap

Art Wine

Fruit/Grain Glassware

Rugs Oil

Trade Goods & Markets

• Merchants started selling Merchants started selling goods during church festivalsgoods during church festivals

• Barter economyBarter economy-- Goods and services were exchanged without the use of money – As fairs grew, fixed values

were placed on goods• Fairs were social eventsFairs were social events

– People traveled far distances and shared news and ideas

Manufacturing, Banking, & Investment

– Market economy: land, labor, and capital are controlled by individual people

– Domestic system; took place in worker’s home– “Money changers” from fairs began lending money

• Jews became the main money lenders– usury- charging interest on loans

•

The Growth of TownsThe Growth of Towns

C14, S3 pp. 327-330

Objectives

• Identify rights townspeople gained during the late Middle Ages

• Explain how merchant & craft guilds contributed to their communities

• Describe how the growth of cities helped lead to the decline of serfdom

The Rights of Townspeople

• Freedom – after a year & a day• Exemption – from working on the manor• Town justice – towns had own courts• Commercial privileges – could sell freely in town market, charge

toll to outsiders

Guilds• Merchants – outside

merchants had to pay a fee to trade in towns

• Workers – craft guilds set guidelines for wages, hours, & working conditions; start as apprentice, then journeyman, then master of that craft guild

• The rise of the middle class – merchants & master workers

Bring out your dead…

• Town life – serfs escaped to gain freedom

• The Black Death – cities were dark, unsafe, dirty, & unhealthy, causing disease to spread rapidly