HIST BC 3116y Lecture Notes - Lecture 9: Foal, Tael, Usury
1 Nov 2016
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History of money lecture 9 (15 february 2016) Dark ages (early & late 9th c) early middle ages. Impetus toward monetization disappeared (military conquest, imperial administration, taxation, urbanization, transportation networks, and trade). Natural domestic economy, un-coined medium of exchange, imaginary coins as unit of account. As connection between people became fragmented, fall off in urbanity: a tendency toward more rural living, little to no communication among europe, less need for money to circulate far and wide. Still expressed value and prices in coin (denarus) National level, silver bar was used to mediate (some coins) transactions. Temporary fairs (of champagne and brie: connected southern europe (italy) with middle europe, trade of luxury goods commenced here, money was necessary; circulated throughout europe and middle eastern basin, bills of exchange became common. Did(cid:374)"t (cid:449)a(cid:374)t to carry coin with them. Money changers (specialize in exchanging one currency for another)
