Commerce, Guilds, and the rise of towns

1. Commerce, Guilds, and the rise of towns 7-4

2. Why Towns? Agricultural revolution – new technologies like iron plows, harness for horses, three-field system Growth of trade, trade routes and fairs • Want items not available on manors • Crisscross Europe to meet growing demands • Fairs close for winter merchants wait near castle or in town • Trades also entertainment

3. Commercial Revolution – new business practices, money economy and capital • Capital • Partnerships • Insurance • Credit Development of a middle class Rise of Guilds Growing social changes

4. Merchants and Commerce • Merchants= shopkeepers and traders to sell products • Formed guilds to help them prosper • Church disapproved of business for profit, so it imposed fines and regulations on businessmen • First merchants to leave farmwork on the manor to make money by trading probably became drifters and wanderers • For these early merchants, trade represented risk and freedom

5. Merchants and Commerce Cont. • Guilds prevented strangers from coming into town to sell goods unless they paid a toll, then they could only sell things that would not interfere with the interests of guildsmen • Merchant guilds became wealthy and powerful – could even loan large amounts of money • Markets and fairs were also important to merchants • Fairs brought together customers, craftsmen and merchants from all over Europe and lasted for about 3 weeks • In order for business to prosper, someone needed to lend money, Christians refused, so this left Jews to be money lenders, which in turn led to increased tension between the groups

6. Guilds • Craft guilds were associations of craftsman who agreed to cooperate in order to increase profits and benefits for all members • All members agreed to abide by rules set by the guild, including how many hours a craftsman could work and the quality of the product

7. Guilds continued • Important part of guilds was the apprenticeship system • Boys from 10-14 years old would be hired by a master for a specific period of time (usually 7 years) • Received no salary, but given food, housing and clothing • After serving his time, he had to submit a masterpiece to the guild to be accepted into the guild

8. Charter A written document that sets out the rights and privileges of a town In return for this document (given from a king or local lord) the merchants in the town paid the king or lord a large sum of money, an annual fee or both! Usually granted people the right to choose their own leaders and control their own affairs