1. The Revival of Trade C14, S2 pp. 323-326

2. Objectives Explain the factors that led to revival of trade in Europe Describe goods traded in Europe & explain why fairs began Identify important business developments that resulted from the growth of trade

3. Revival of Trade Italian ships brought goods back from Asia Viking ships brought Asian goods to Northern Europe The Hanseatic League set up trading posts Flanders became a meeting center of different trade routes The Crusades stimulated trade

4. Trade Routes Trade began to grow again in Europe because of the Crusades –Italy –Italy- ideal for trading because of location between northern Europe and southwest Asia

7. Trade Goods & Markets Trade Goods & Markets-Trade Goods & Markets- Crusades increased Europeans’ demand for “exotic” goods from Asia

8. AsiaEurope DyesFish MedicineFur SilkTimber SpicesLeather Cotton ClothWoolen Cloth LinenSoap ArtWine Fruit/GrainGlassware RugsOil

9. Trade Goods & Markets Merchants started selling goods during church festivalsMerchants started selling goods during church festivals Barter economy-Barter economy- Goods and services were exchanged without the use of money –As fairs grew, fixed values were placed on goods Fairs were social eventsFairs were social events –People traveled far distances and shared news and ideas

10. Manufacturing, Banking, & Investment –Market economy: land, labor, and capital are controlled by individual people –Domestic system; took place in worker’s home –“Money changers” from fairs began lending money Jews became the main money lenders –usury- charging interest on loans

11. The Growth of Towns C14, S3 pp. 327-330

12. Objectives Identify rights townspeople gained during the late Middle Ages Explain how merchant & craft guilds contributed to their communities Describe how the growth of cities helped lead to the decline of serfdom

13. The Rights of Townspeople Freedom – after a year & a day Exemption – from working on the manor Town justice – towns had own courts Commercial privileges – could sell freely in town market, charge toll to outsiders

14. Guilds Merchants – outside merchants had to pay a fee to trade in towns Workers – craft guilds set guidelines for wages, hours, & working conditions; start as apprentice, then journeyman, then master of that craft guild The rise of the middle class – merchants & master workers

15. Bring out your dead… Town life – serfs escaped to gain freedom The Black Death – cities were dark, unsafe, dirty, & unhealthy, causing disease to spread rapidly