MEDIÆVAL TRADE
There were three good reasons why the Italian cities should have been the first to regain a position of great importance during the late Middle Ages. The Italian peninsula had been settled by Rome at a very early date. There had been more roads and more towns and more schools than anywhere else in Europe.
The barbarians had burned as lustily in Italy as elsewhere, but there had been so much to destroy that more had been able to survive. In the second place, the Pope lived in Italy and as the head of a vast political machine, which owned land and serfs and buildings and forests and rivers and conducted courts of law, he was in constant receipt of a great deal of money. The Papal authorities had to be paid in gold and silver as did the merchants and ship-owners of Venice and Genoa. The cows and the eggs and the horses and all the other agricultural products of the north and the west must be changed into actual cash before the debt could be paid in the distant city of Rome.
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