Gold & Spices: The Rise of Commerce in the Middle Ages

By Jean Favier; Caroline Higgitt | Go to book overview

NINE
Capital

There were those who wanted to do more than confine themselves to local trading in small shops, where the products of international trade were merely redistributed, or in the town markets that sold produce from the surrounding countryside or pewter jugs made by local craftsmen. But to expand they needed sources of capital other than the modest sums earned by the shopkeeper or artisan. On the eve of the economic crises of the fourteenth century, the only large fortunes were still those of the landed aristocracy, whether of recent or more ancient creation; and they were richer in land and the increasingly devalued income from it than in ready money available for economic enterprises. It was becoming increasingly difficult for the individual entrepreneur to organize fleets of ships or the movement of cargoes, to take advantage of credit available on long-term sales, or to reinvest any profits. As for financing an industrial enterprise, from the buying of raw materials in often distant markets to the marketing of the finished products, it was out of the question. This was a period when it was necessary to operate within economic horizons that included the buying of wool in England or of alum in Asia Minor along with the selling in Alexandria of luxury cloths finished in Florence, or the supplying of silk from China and furs from Russia to the cosmopolitan clientele in the courts of princes or the papal curia.

To finance the equipping of a ship in Lübeck or Genoa, to install cranes in Bruges or Barcelona, to oversee the operation of the dyeing works in Ypres or Florence—no cloth merchant or money changer could hope to manage such activities on his own. Even the most modest equipment, such as a watermill—for grinding wheat or fulling cloth—would have represented a crushing expense for someone who might need to use it only three times a year.

-151-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Gold & Spices: The Rise of Commerce in the Middle Ages
Table of contents

Table of contents

  • Gold & Spices - The Rise of Commerce in the Middle Ages *
  • Contents *
  • Maps *
  • Introduction 1
  • One Horizons 8
  • Two Opening the Way 31
  • Three Learning About the World 53
  • Four Privileges 77
  • Five Competition 95
  • Six Foreigners 109
  • Seven Currency 125
  • Eight Payment 142
  • Nine Capital 151
  • Ten Business 175
  • Eleven Credit in the Marketplace 193
  • Twelve Toward Modern Banking 215
  • Thirteen the Risks of Business 237
  • Fourteen Accounting 258
  • Fifteen the Power of Business 280
  • Sixteen the Businessman and the Prince 297
  • Seventeen Social Aspirations 312
  • Eighteen Fortune and Conscience 332
  • Nineteen the Merchant and the Arts 349
  • Conclusion 363
  • Bibliography 365
  • Index 376
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 390

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.