MIDDLE AGES-REVIVAL. DIVISIONS OF THE MIDDLE AGES 500-1000: Early Middle Ages 1000-1300: High Middle Ages 1300-1500: Late Middle Ages.

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MIDDLE AGES-REVIVAL

MIDDLE AGES-REVIVAL1DIVISIONS OF THE MIDDLE AGES500-1000: Early Middle Ages1000-1300: High Middle Ages1300-1500: Late Middle Ages2WHEN THE WESTERN ROMAN EMPIRE FELL: TRADE almost died out. Manors grew or made almost everything they needed. TOWNS & CITIES shrank. LEARNING & LITERACY declined.

31000 A TURNING POINT!!Trade revivedTowns & cities grewLearning & literacy began to revive.

4WHY DID THIS REVIVAL TAKE PLACE?By 1000, innovations had taken place in agriculture1) 3 Field System had replaced the 2 Field System2) Moldboard Plow

3) Horse Collar and Horse Shoes

5WHY DID THIS REVIVAL TAKE PLACE?Innovations in agriculture led to more food.More food led to an increase in populationThe increase in population and the Crusades led to a revival of tradeRevival of trade led to a revival of towns (towns depend on trade)

6REVIVAL OF TRADE IN ITALYEarliest revival or trade was in the cities of Northern Italy, especially Genoa, Pisa and Venice Trade had declined less there. Location favored trade. They served as go-betweens for traders from Asia and Northern Europe. These cities carried Crusaders to Palestine, and carried goods back from Asia.

Revival of Trade in Northern EuropeFlandersLocated where Belgium & Netherlands are nowSpecialized in making & selling fine woolen clothLargest cities were Bruges & Ghent

8Revival of Trade in Northern EuropeKiev, in what is now Ukraine, also became a trading center

Revival of Trade in Northern EuropeHanseatic LeagueAssociation of trading cities of what is now Northern Germany (then it was the HRE). This association acted almost like a government: it had an army & navy; it enforced trade rulesAbout 100 cities, including Bremen, Hamburg & Lubeck

10Revival of TradeFrom Asia, Europeans wanted: Dyes, medicines, silks, spices, cotton & linen, art objectsEuropeans exported: Baltic countries: fish, fur, timberSpain: leather, oil, soap;France: wineVenice: GlasswareEngland & Flanders: woolen cloth

11TRADE FAIRSTemporary locations where merchants and traders met to do businessThe best known trade fairs were in northeastern France, in the area known as Champagne. Champagne was on the trade route between Italy and Flanders.At different times of year, 4 towns in Champagne held a total of 6 fairs, each lasting about 49 days Merchants came from all over Europe

12Medieval trade fairs. Trade fairs became social events, with clowns, jugglers and musicians.

New business practices-Domestic System Manufacturing by the Domestic System (also called Putting out system. Goods were produced in the workers houses. Example: A businessman would buy wool, then take it to a spinner, then to a weaver, then to a dyer, who each performed a task. Then he collected the cloth and sold it.

Trade FairsAt first business was done by barter. As the fairs grew larger, merchants began to use money.However, local rulers issued their own coins, and money changers exchanged coins from one region for coins of another. New Business practices: BankingThe first bankers were simply money changers. In the Middle Ages, the Church said money lending for interest, which was called usury, was a sin.However, some people began to lend money for interest anyway, and eventually the Church changed the rule. New Business Practices-BankingBanks began to issue a special note called a bill of exchange, which was like a check, used in place of money.A merchant could deposit his money in one bank, get a bill of exchange, and then travel to another city, present his bill of change and get cash in the amount of his deposit. New Business Practices: investingIn the later Middle Ages, businessmen began investing capital. Capital is money that is earned, saved, and invested to make a profit. Sometimes several investors formed a partnership, in which profits and loses were shared. All these new business practices resulted in a market economy in which land, labor and capital are controlled by individuals.

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