1 7-K Economic Recovery Sparks Change

A. Trade Revival 2 1. By the 800’s new inventions such as the iron plow and the windmill made it easier for peasants to farm more land and grind more grain. 2. Combined with the three field farming system it created a surplus in food. WHAT WAS TO BE DONE WITH THIS SURPLUS?

3 3. From the surplus came a revival of trade. New trade routes from Europe to East Asia were formed by merchant companies traveling in Armed Caravans. 4. At first traders and customers did business at local trade fairs along rivers or where busy trade routes met.

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5 What happened when it got too cold to travel and trade? 5. Merchants waited in castles and bishop’s palaces. These settlements would attract artisans who made goods that the merchants could sell. 6. All of this activity led to the rise of new towns and medieval cities.

B. A COMMERCIAL REVOLUTION 1. New business practices came about during this time period. Many merchants formed partnerships, in which people pooled their money to fund larger ventures. 2. Merchants also developed a system of insurance to help reduce business risks. 3. Europeans adopted the bill of exchange. 6

C. SOCIAL CHANGES 7 1. From the new way of doing business society began to change with it. 2. The use of money ended the idea of serfdom. 3. By 1300 most peasants were peasant tenant farmers that paid rent for their land, or hired farm laborers. 4. The merchants, traders, and artisans formed a new middle class.

C. SOCIAL CHANGES 5. The church forbade people to lend money. SO WHO LENT THE MONEY? 6. Jewish men became moneylenders and began to play an essential role in the economy. This led to growing Anti-Semitism 8

D. TOWN AND CITY LIFE 9 1. Medieval towns and cities were surrounded by high, protective walls. 2. City was a jumble of narrow streets lined with tall houses. Upper floors hung over the streets. 3. Even a rich town had no garbage collection and most people threw their waste into the street.

E. The Guilds Middle class gained economic and political power. 2. Guild, an association of merchants or artisans who cooperated to protect their economic interests 3. Guilds dominated town life -- passed laws, imposed taxes.

E. The Guilds Guilds decided how to spend funds a. Pave the streets or make other improvements 5. Two Guilds a. First to be created was the Merchant guild b. Then came the various Artisan guilds

E. The Guilds Each guild represented one occupation (weavers, bakers, goldsmiths, etc) 7. In some towns/cities struggles between merchant and artisan guilds could lead to riots.

E. The Guilds Guild members cooperated to protect their interests a. Prevent competition – limit number allowed to join b. Only guild member could work at that trade 9. Guild rules protected quality of goods, hours of labor, set prices

E. The Guilds Guilds provided social services a. Operated schools & hospitals b. Looked after needs of members c. Provided support for members’ widows/orphans

E. The Guilds Becoming a guild member a. Took many years of hard labor b. Age 7/8, child became apprentice, or trainee, under guild master 1) 7 years to learn trade 2) Paid no wages, received room & board

E. The Guilds Becoming a guild member c. Apprentice hardly ever became guild master, most became journeymen, or salaried workers

E. The Guilds Women a. Worked in dozens of crafts: often same craft as father/husband; could inherit workshop when he died b. Could become a Guild Master c. Dominated some trades; had own guilds 1) Paris – outnumbered men in silk and wool trade 2) Frankfurt – 1/3 of guilds were elderly women