But Before They Agreed To Lend Their Fleets, They Bargained, That On The Reduction Of Any City Favorable To Commerce, They Should Be Permitted To Trade There Without Duty Or Molestation, And Be Favoured With Every Privilege And Protection Which They Might Desire.

In consequence of this bargain, they obtained, in some places, the exclusive right over whole streets, and the appointment of judges to try all who lived in them, or traded under their protection.

A quarrel which took place between the Venetians and the Greek Emperor Manuel, in 1171, is worthy of notice, as being connected with the origin of the bank of Venice. The republic not being able to supply, from its own sources, the means of carrying on the war, was obliged to raise money from her citizens. To regulate this the chamber of loans was established: the contributors to the loan were made creditors to the chamber, and an annual interest of 4 per cent. was allotted to them. If this rate of interest was not compulsive, it is a sure criterion of a most flourishing state of trade, and of very great abundance of money; but there is every reason to believe if was compulsive.

At the beginning of the 13th century, Constantinople was conquered by the Venetians, and the leaders of the fourth crusade: this event enabled them to supply Europe more abundantly with all the productions of the East. In the partition of the Greek empire which followed this success, the Venetians obtained part of the Peloponnesus, where, at that period, silk was manufactured to a great extent. By this accession, to which was added several of the largest islands in the Archipelago, their sea coast extended from Venice to Constantinople: they likewise purchased the isle of Crete. The whole trade of the eastern Roman empire was thus at once transferred to the Venetians; two branches of which particularly attracted their attention, - the silk trade and that with India. The richest and most rare kinds of silk were manufactured at Constantinople; and to carry on this trade, many Venetians settled themselves in the city, and they soon extended it very considerably, and introduced the manufacture itself into Venice, with so much success, that the silks of Venice equalled those of Greece and Sicily. The monopoly of the trade of the Black Sea was also obtained by them, after the capture of Constantinople; and thus some of the most valuable articles of India and China were obtained by them, either exclusively, or in greater abundance, and at a cheaper rate than they could be procured by any other route. In consequence of all these advantages, Venice was almost the sole channel of commerce in this part of Europe, during the period of the Latin empire in Constantinople. This empire, however, was of very short continuance, not lasting more than 57 years.

In the interval, the merchants of Florence became distinguished for their commercial transactions, and particularly by becoming dealers in money by exchange, and by borrowing and lending on interest.

Enter page number Go  Previous Next
Page 247 of 524
Words from 128681 to 129187 of 273188