Chapter 14 Section 2 The Revival Of Trade

Review At the end of the 4th Crusade who was in control of Constantinople? At the end of the 4th Crusade who was in control of Constantinople? What helped make Italy into a major trading power? What helped make Italy into a major trading power? Pope Urban called on Europeans to join in a Crusade against who? Pope Urban called on Europeans to join in a Crusade against who?

Trade Routes {the decline in trade in medieval times was caused by the manorial system} because manors grew or made nearly everything they needed {the decline in trade in medieval times was caused by the manorial system} because manors grew or made nearly everything they needed Because of the Crusades trade began to rise in Europe again Because of the Crusades trade began to rise in Europe again Italy was the first site of the trade revival, bringing Asian goods to Europe Italy was the first site of the trade revival, bringing Asian goods to Europe Soon Kiev, Flanders (now a part of Belgium, France and the Netherlands) and German Cities became important trading centers Soon Kiev, Flanders (now a part of Belgium, France and the Netherlands) and German Cities became important trading centers Because Germany’s weak government could not control trade the Hanseatic League was created. Because Germany’s weak government could not control trade the Hanseatic League was created. The League set up trading posts in other countries and increased trade in northern western Europe The League set up trading posts in other countries and increased trade in northern western Europe

Sorry, I couldn’t find a map of Flanders Sorry, I couldn’t find a map of Flanders

Trade Goods and Markets As trade grew, merchants needed a place to sell their goods but local markets did not attract large enough crowds As trade grew, merchants needed a place to sell their goods but local markets did not attract large enough crowds {Most early merchants sold their goods at local fairs} the local rulers would put taxes on the sold items in exchange for special services such as armed guards to protect from thieves {Most early merchants sold their goods at local fairs} the local rulers would put taxes on the sold items in exchange for special services such as armed guards to protect from thieves At first business was done through {a barter economy- exchanges of goods and services} but as the fairs grew larger a fixed value was placed on goods. At first business was done through {a barter economy- exchanges of goods and services} but as the fairs grew larger a fixed value was placed on goods. However, local rulers made their own coins and money changers had to place values on one currency in relation to another However, local rulers made their own coins and money changers had to place values on one currency in relation to another Fairs were also popular social events. Fairs were also popular social events.

A tapestry depicting what a local fair might look like A tapestry depicting what a local fair might look like

Manufacturing The system of manufacturing that developed during in the Middle Ages was called the domestic system The system of manufacturing that developed during in the Middle Ages was called the domestic system {Under the domestic system workers made a part of a product in their homes} {Under the domestic system workers made a part of a product in their homes} For example: An individual would but wool and then hand it out to several other workers. Each worker then completed a task at home such as spinning, weaving or dyeing. The owner of the wool then collected the cloth and sold it at the highest price possible. For example: An individual would but wool and then hand it out to several other workers. Each worker then completed a task at home such as spinning, weaving or dyeing. The owner of the wool then collected the cloth and sold it at the highest price possible.

Banking {The currency exchangers were the first bankers. The most important purpose of early banks was to provide money lending services} {The currency exchangers were the first bankers. The most important purpose of early banks was to provide money lending services} Because Christianity did not allow usury- charging interest on loans, Jewish people became moneylenders because they were not permitted to own land or join groups for skilled workers Because Christianity did not allow usury- charging interest on loans, Jewish people became moneylenders because they were not permitted to own land or join groups for skilled workers Money changers also developed special notes called bills of exchange that allowed a merchant to deposit money in one town in exchange for a bill in the amount of the deposit. He could then go to another town and exchange the bill for money Money changers also developed special notes called bills of exchange that allowed a merchant to deposit money in one town in exchange for a bill in the amount of the deposit. He could then go to another town and exchange the bill for money {Banks helped international trade by allowing merchants access to money in different locations} {Banks helped international trade by allowing merchants access to money in different locations}

Medieval Banking

Investing In the later Middle Ages, Europeans began investing capital In the later Middle Ages, Europeans began investing capital Capital is money earned, saved and invested to make profits Capital is money earned, saved and invested to make profits Sometimes several people combined their capital to pay for a new business. They shared in the costs and the profits Sometimes several people combined their capital to pay for a new business. They shared in the costs and the profits {Medieval merchants were able to finance their work through gathering partners to invest} {Medieval merchants were able to finance their work through gathering partners to invest} {Manufacturing, banking and investing were the first steps toward the creation of a market economy}- land labor and capital are all controlled by individual persons- and formed the basis of our capitalist system {Manufacturing, banking and investing were the first steps toward the creation of a market economy}- land labor and capital are all controlled by individual persons- and formed the basis of our capitalist system

Review Pope Urban called on Europeans to join in a Crusade against who? Pope Urban called on Europeans to join in a Crusade against who? the decline in trade in medieval times was caused by the _______ system the decline in trade in medieval times was caused by the _______ system Where did most early merchants sold their goods? Where did most early merchants sold their goods? Under what system do workers made a part of a product in their homes? Under what system do workers made a part of a product in their homes? What was the most important purpose of early banks ? What was the most important purpose of early banks ?

This is the second rarest large carnivore in Africa, next to the Ethiopian wolf. Their scientific name is Lycaon Pictus meaning painted wolf. They are cousins of the domestic dog and are the only ones in their genus Lycaon. Africans consider them to be the second most successful predator in the world, second only to humans This is the second rarest large carnivore in Africa, next to the Ethiopian wolf. Their scientific name is Lycaon Pictus meaning painted wolf. They are cousins of the domestic dog and are the only ones in their genus Lycaon. Africans consider them to be the second most successful predator in the world, second only to humans