HANDOUT # 8: MEDIEVAL “WORLD” TRADE
1.
Above: A bank in Florence Italy. Worked like modern checking
account. Merchant would deposit gold and receive a Bill of Exchange. Could
then turn that in for gold at other banks. Easier and Safer than carrying gold
along trade routes
Above: Execution of a Pirate and seventy of his mates in Hamburg
2.
Travel in the Middle Ages was slow , uncomfortable, and
usually dangerous. Today, we can travel around 55 miles in one hour. In the Middle Ages, it
would have taken a fast horse over two days to travel 55 miles. A few main roads in Europe had
been built by the Romans, and were still around during the Middle Ages. However, most roads
were made of dirt that turned into a river of mud when it rained. The old Roman roads were full of
pot holes were peasants had “borrowed” a stone from the road to patch up their homes. The
potholes and mud limited travel to walking, horses, and light tow wheeled carts. Most people
walked, because horses were very expensive and only the rich could afford them. Any heavy
loads were transported on the ocean or by river. Robbers were found on both sea and land and
robbed and killed those who were not careful. Only very desperate people traveled by night, when
the robbers were the most active. Most people didn’t travel at all. Common people sometimes
lived their whole lives never traveling more than 10 miles from the place where they were born.
The nobility traveled more, usually moving from castle to castle throughout the course of the year
to check on each of their properties.
3.Travelers
Merchants also traveled a great deal in order to find new commodities (goods) to sell. These
men usually traveled by sea or by land routes. No one explored very far away from land,
because everyone believed the world was flat and that if they went to far into the ocean they
might fall off the edge of the world. No one in Europe knew that America or Australia existed.
People did travel around Europe, Africa, and Asia though Merchants brought back many
luxuries from far off places. From Africa, merchants brought slaves, sugar, gold, ivory, and
precious stones and from Asia came silk, furs, carpets, and the valuable spices such as pepper,
cinnamon, and nutmeg. Crusaders returning from the Holy Land brought exotic goods such as
rice, cotton perfume, mirrors, lemon, and melons. Toward the end of the middle ages many
regions were making goods such as wine, salt, wool, copper, fish, and timber, for sale in other
parts of Europe.
4. ITALIAN CITY-STATES
Merchants and sailors that traveled to distant lands took great
risks in search of things to sell. Bad weather and pirates were
constant threats. If a crew was shipwrecked, they had little hope
of being rescued as many countries had laws that said all goods
recovered from a shipwrecked vessel was the property of the
finders unless there were survivors.
In the late 1300’s, Italian City States became the center of trade.
This was due in part to their location on the Mediterranean, which
was a economic super highway during this time period. In the
13th and 14th centuries, more and more people began to be able to
purchase more and more goods, and so the demand for such
goods increased.
Definition: Italian City States: were the center of the rebirth of European trade and culture at
the end of the Middle Ages.
5. The Polo‘s, The Silk Road, and Kublai Khan
In the middle 13th century Nicolo Polo and his
brother Maffeo were Venetian merchants. In 1260
the brothers traveled over land to the Mongol
capital and remained in the Khan’s court until their
return to Venice in 1269.….In 1271, the merchants
again made the hazardous journey to Kublai Khan’s
(Genghis Khan’s grandson) court this time taking
Nicolo’s 17 year old son Marco this time staying
with Khan for 17 years. Marco Polo’s description of
his travels aroused the interest of Medieval Europe
in the Orient (Asia). To make sure the brothers
would be treated good in the Mongol Empire,
Kublai Khan presented them with a golden tablet a
foot long and three inches wide inscribed with the
words “ By the strength of the eternal Heaven, holy be the Khan’s name.” During the Polos 17
year stay in Khan’s court they acquired great wealth in jewels and gold.
12 pennies = 1 shilling
20 shillings=1 pound
Item Price in Date Price in Dollars
Item
Date
Cheap Wine
Axe
Racing Horse
A Serf to get married
Boots
Peasants Sword
Gold Ring with
diamond
Pillows
Chicken
1 pound= $2.40
13th Century
1457
13th Century
14th Century ?
1470’s
1340’s
1382
4 shillings
5 shillings
10 pounds
1-13 shillings
6 shillings
6 shillings
7 pounds
Price in
Dollars
48 cents
60 cents
$24
$.24-$1.56
$.72
$.72
$18
1457
14th century
4 shillings
1 shilling
$.48
$.12
Wage per day
3 shillings (36 cents)
7 pounds 2s ($72.24)
82 pounds 3s ($198.36)
Less than a shilling
Wage per year
$31.16 (dollars)
$31,680 (dollars)
$86,400
$00.36 (36 cents)
Medieval Wages In Dollars
Profession
Carpenter
Master Guild Member
Noble (man/woman)
Duke/ Duchess
King/Queen
During peacetime
Kitchen Servant
Of a Noble
Price in
Amount
4 pillows
1 chicken
1 gallon
1 axe
1 horse
1 spouse
1 pair
1 sword
1 ring
Note: that these conversion rates are based on from the early 20 th century, these are not the actual
conversion rates but are meant to give an approximate representation of the value of medieval
goods in modern day U.S. dollars. All calculations are based on currency conversion rates from
www.vintagecalculators.com, as well as the prices of medieval goods found at the following web
site.http://www.fordham.edu/halsall/source/medievalprices.html#FOOD%20AND%20LIVES
TOCK.
1. The majority of people made the amount of money a Kitchen Servant makes per year,
What do these two charts tell you about rich and poor?
2. Based on these charts could a Kitchen Servant afford a pair of boots? What do you
imagine the live of a peasant must have been like?
3. Was Medieval Trade beneficial to everyone?
12 pennies = 1 shilling
20 shillings=1 pound
Item Price in Date Price in Dollars
Item
Date
1 pound= $2.40
Cheap Wine
Axe
Racing Horse
A Serf to get
married
Boots
Peasants Sword
Gold Ring with
diamond
Pillows
13th Century
1457
13th Century
14th Century ?
4 shillings
5 shillings
10 pounds
1-13 shillings
1470’s
1340’s
1382
6 shillings
6 shillings
7 pounds
Price in
Dollars
48 cents
60 cents
$24
$.24$1.56
$.72
$.72
$18
1457
4 shillings
$.48
Chicken
14th century
1 shilling
$.12
Medieval Wages In Dollars
Profession
Carpenter
Master Guild
Member
Noble
Duke/ Duchess
(man/woman)
King/Queen
During
peacetime
Kitchen Servant
Of a Noble
Price in
Wage per day
3 shillings (36
cents)
7 pounds 2s
($72.24)
82 pounds 3s
($198.36)
Less than a
shilling
Amount
4
pillows
1
chicken
1 gallon
1 axe
1 horse
1 spouse
1 pair
1 sword
1 ring
Wage per year
$31.16 (dollars)
$31,680 (dollars)
$86,400
$00.36 (36 cents)
Note: that these conversion rates are based on from the early 20 th century, these are not the actual
conversion rates but are meant to give an approximate representation of the value of medieval goods in
modern day U.S. dollars.
All calculations are based on currency conversion rates from
www.vintagecalculators.com, as well as the prices of medieval goods found at the following web
site.http://www.fordham.edu/halsall/source/medievalprices.html#FOOD%20AND%20LIVESTOCK.
1. The majority of people made the amount of money a Kitchen Servant makes per year,
What do these two charts tell you about rich and poor?
2. Based on these charts could a Kitchen Servant afford a pair of boots? What do you
imagine the live of a peasant must have been like?
3. Was Medieval Trade beneficial to everyone?