Download - Chapter10-Part 1 Growth of Trade and Towns
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Reshaping of Medieval Europe
Chapter 10 Part 1
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FACTORS THAT LEAD TO REVIVAL OF TRADE
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Routes
1. Northern• Silk Road
2. Central Route• Land and Sea
3. Southern Route• Red Sea
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Markets and Fairs
Fair•Regional/international• annual •West meets East
Market• Primary center for local
trade• Merchants/peasants sold
their stuff
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Fairs
West• Wool• Grain
• Timber• fish
East• Spices
• Silk• Gems
• Cotton/linen• Rugs• dyes
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$$ and Banking
Help trade
Every lord minted own
coins
Standard value of goods
Moneychangers knew value
of coins
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Banking
Money Changers
Knew value of coins
Kept money for
merchants
Money lenders
Letters of credit
(checks)
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Church and Business Practices
Discouraged economic activity
Poverty = virtue
Viewed merchants and traders with suspicion
Wealth brings corruption
“just price” = price that included cost of material, labor and reasonable profit
“usury” = charge interest for use of money borrowed
MedievalChurch
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FACTORS THAT LEAD TO GROWTH OF TOWNS
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Growth of TownsTowns = places of trade
Revived TradeIncrease in agriculture productivity
Better Farming(Better tools means less people needed)
Guilds
Increase in people’s freedomsEmergence of new social class (middle)
Charter = privileges granted to a town by the feudal lord; outlined rights of the townspeople
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Freedom after 1 year in town
Don’t have to work
land (money)
Town Justice
Buy/sell freely
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Guilds
Regulate business activity
Security-profits-aid-charity
Merchant (fixed prices)
Craft (regulate hours, wages, etc)
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3 Classes in Guild
Apprentice • Young boy• Enters house of
master• Work in exchange
for food, home and training(up to 7 yrs.)
Journeyman• Seek employment
and wages• In shop of master
MasterCraftsman• Needs experience
and $$$ to open own shop
• Exam, and show sample work (masterpiece)
• Take oath to follow rules of guild
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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
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Town Life
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