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Recovery and New Patterns of Credit, 1300–1304

In: Enterprise, Money and Credit in England before the Black Death 1285–1349

Author

Listed:
  • Pamela Nightingale

    (University of Oxford)

Abstract

This chapter describes how the withdrawal and re-minting of the imitation sterlingssterlings, imitative renewed confidence in the coinage and doubled the credit in the certificates for 1300–1304. However, London and eight countiescounties, including five neighbouring the city did not share in this growth, probably because the Italians there were reducing their wool exportswoolwool exports. Most likely this happened because of the debasement of continental currencies, and the fall of sterling against the florinflorin, which affected the exchange ratesexchange rates that were crucial to their businesses. In return for their paying a new import tax, Edward issued his Carta Mercatoria Carta Mercatoria in 1303 which granted the aliens new trading privileges in the city. These encouraged them to increase their importsimports and attracted more provincial merchants to buy them from them there by selling more wool to them in return. The chapter discusses how other leading counties benefited from these new circumstances.

Suggested Citation

  • Pamela Nightingale, 2018. "Recovery and New Patterns of Credit, 1300–1304," Palgrave Studies in the History of Finance, in: Enterprise, Money and Credit in England before the Black Death 1285–1349, chapter 0, pages 155-183, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-319-90251-7_7
    DOI: 10.1007/978-3-319-90251-7_7
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