chapter10-part 1 growth of trade and towns

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