Features of monetary circulation in Novgorod in the Middle Ages.

Features of monetary circulation in Novgorod in the Middle Ages.

(Sended into Demark in Aprle).

The abundance of eastern silver of the 8-10th centuries and its deficit in the past of the 10th century, was overcome when in the Alps from 960 (Gutna Mountain) became the coin of the mint. Arab coin was replaced by a European denarius in the money circulation of Novgorod. The minimum level of production in 1448, which was reflected throughout Europe, also Kypchak

One of the problems of studying money circulation. HL is the multiplicity and sovereignty of the minting of coins and bars of the Middle Ages, because the Senoraj was a privilege monetary powers under conditions of feudal disunity. But right now both sides of the Baltic Sea were offered weighted measures of the amount of silver, which by analogy with the latest «gold standard» were in circulation in the form of money account denominations.

The delivery of the coins to Novgorod was in fact the end of «long distance  trade», when here the coins represented a surplus value added, which was allowed to destruction more than North Dvina, Volga-Kama (VKA).

So, the refusal of the coin during 1136-1157 in mutual trade was dictated by the economic expediency. Apparently, since medium of 11^th  cent.on Russia get distribution ingots from Gotland & Konigsberg’s merchant need to competition with  Gotland colleges.  Since 960 to 1446 — 490 years, the giant silver mining cycle in the Alps & Novgorod, being at the end of long-distance transportation, was completed by the city center of the eastern past of HL, where merchants from Konigsberg, Visby brought silver. It was credit East Prussia, Gotland to Novgorod. The amounts could be quite significant. Credit = (Cost_coin — Cost_bar) x N.

Merchants of the Teutonic Order, joined the limited-type companies silver in treasures.

Aspiration to appropriate Senioraj of Prussia ltd, as well as a silver deficit in the Alps, forced the Novgorod authorities to switch to ingot casting from silver imports.