These items were sold in bulks over shorter sub circuits of the network. This created the dense local network so valuable to the hierarchies that usually arose over them. Two different items fit into the category of local and bulk goods, which are cod and timber. I believe that timber is much more a valuable commodity than cod is. Timber is used for many things such as shipbuilding and mostly heating and cooking, for those who didn't have advanced technology to cook. Wood also had its own advantages that not many commodities had. A huge advantage of wood is that it can float on water; therefore rivers, canals and sea passages can transport it. Timber was drawn out from other places, but still shipyards still had to shut down time from time due to the lack of timber there was in supply. The demand for timber was rapidly increasing over time. Heating, cooking, and shipbuilding all combined together caused a growing problem of
They constructed mansions and libraries and museums and collected fine art with their newfound wealth. They extended their range of fine silk clothes and comfortable furniture and ran factories with cheap labour from the working class.
As the global flow of silver continues, societies started to change from their past ideals into societies that centered on commerce, impacting people’s lives greatly as seen in Documents 1, 3, 5, and 6. Document 1 is written by Ye Chunji, a Chinese county official during the Ming dynasty. In order to lower wedding expenses, he explains how necessary it is to conserve
Agriculture and trade were the basis of the economy. A wide variety of things were grown. The predominate crop was maize. However, beans, squash, pumpkin, chili peppers, tomatoes, frijol, yucca, cocoa, tobacco, avocado, and sapota were grown and traded. The goods were taken to major cities and traded for things like cloth, jade, pottery, fish, deer meat, and also salt. All of these were traded by canoe. They also domesticated dogs and
In Document one it talks about Zanj in East Africa and their trade goods. They have trade goods such as wild leopard skins, tortoise shells, and ivory. The tribe the Zanj lives in that area. They send their tusks to Oman and then are typically sent to China and India.
“There merchants sold silks from China, wheat from Egypt, gems from India, spices from Southeast Asia, and furs from Viking lands in the North.”(Document B)
ii.Merchants, adventures, and government officials had high hopes of finding metals and new areas of trade ( access to the spices )
Merchants were important part of the history; they took advantage of New Yorks large, protected port port as a trade tool within United States and foreign countries. At first, they bought cotton from South for transport to Liverpool then to Britain. Trade was important to “old” merchants and was pride of New York. They made New York the center of nations trade, information transportation and networks. “New York represented the largest and most diverse segment of nations economic elite surpassing in wealthy power and diversity.” p.19. Merchants were one of the oldest and most numerous segments of the city economic elite. 1850 was golden age of investment and planning, primary profit was cotton and slave labor system, then dry goods and hardware commence, later on corn and wheat then long distance trade by sending ships to remotest corners in the world from India (tea), China (silk) and Brazil (rubber). Banking was another way of growing New Yorks economy; it shifted from the “world of trading goods to the world of finance …” p 24.The innovation of banks was to allow merchants to discount promissory notes. Banking was more beneficial then manufacturing due to higher profits. Later they some started to invest in railroads, factories, mine and utilities and others risked investing in real state. To keep the family business and pass it to next generation they
In ancient history, trading was a major factor in the lives of many. It helped to renew the business of trading in some places. Another name for the trading system was the barter system. In ancient history there were many commodities that were useful in the trading system. Salt, gold, and people all had a role in the trading industry.
The tendency of communities to specialize in some phase of economic activity made it necessary that they maintain commercial contact with other communities and countries in order to secure the things that they did not produce (Hope 16). Some villages, for example, specialized in fishing, others concentrated on metallurgy, while others made weapons, utensils, and so on. Traders traveled from place to place to barter and to purchase. Upon returning they were laden with goods that they sold within their own community (Hope 17).