SOME FACTS FROM HISTORY OF ENGLISH TRADE IN EASTERN BALTIA.

SOME FACTS FROM HISTORY OF ENGLISH TRADE

IN EASTERN BALTIA.

Nikolay A.Khan.

DRIVING FORCES OF HANSEATIC TRADE.

Hierarchical structure of European cities in the Last Medieval when, as for the first time, it showed on several countries, it is necessary to reveal the appearance of trade in the North and Baltic seas. Now it is already considered that the cities around the Baltic were also hierarchical in relation to the sea.

Seaside cities had advantages always. Because ships, from the Early Medieval get advantages  in capacity and low-cost servicing than land transport, question of security is another matter. have always.

Hansa legue (HL) на востоке имел своей границей Lvov, где котяра  where contour kept goods on 1000 Mark (190 kg of silver that very interesting from logistical point, which competition with Genuasians.

Seaside cities had get goods for transportation abroad, extracting profits from the towns of first level. But cities, especially the first level, received an incentive to grow when labor productivity outstripped population growth (Aerts E., 2003, p.358-359). Excess goods in the form of cheaper labor began to move to the sea to become a commodity product. The change in the value of such a product in the direction of increase according to John Hicks (Hicks J., 1941. p.70-75) made it possible to start the process of formation of foreign trade prices.

The narrowness of the medieval market, the low requirements of industries, processing at best the products of nature, both for food and for the production of a long-distance trade made in Europe, as the nature made geographically isolated deposits necessary for the economy of some or other Amber goods. Salt of cod, furs, vine.

Geographical specialization (Jenks, 1992, p.591) created  objective conditions for appearance some points-places change markets of course for trade goods differences emergences. Of cpurse they were connect with sea shores.

The relevant examples convince us that the emergence of specialization has become the engine of economic progress both in the south of Europe and in the north.There is despite biggest territories – modern Peru, Ecuador, Chili –haved   in the Andean world, the availability of communications and communications technologically advanced for its time and actuarial for the Andes, there was no long-distance transcontinental trade (Aerts E., 2003, p.360), While in Europe conditions for the emergence of the phenomenon of «resource economy» with appearance definition “central & margin of west civilisation” (Natural Resources and, 2015, p.4).

Further, geographically isolated trading markets created an objective basis for conducting characteristic transactions, when the equivalence of commodity-commodity exchange was dictated by the value of precious metal, silver / gold both in the country of origin of goods and in the country of exchange. In addition, non-cash settlements are also made in national currency.

Therefore, it is very difficult for modern studies of the economy of such trade, they come up against the study of the ratio of weight norms. Necessity trtaders physically move in space long-distance trade. heavy burdens and voluminous sums of money, and the deficit of currency metals can not be dismissed from the cotes either.

In the article, we use some facts of English trade in the eastern Baltic with the aim to draw attention to the possibility of studying the need of the western markets for goods of Eastern origin, as well as the conditions and the economy of trade, its logistics.

It is now assumed that the North German towns have organized institutionally HL on the basis of certain economic laws, in particular, published in The Law of One Price (LOP) (Lo M.Ch., Zivot E. 2001), which determinative changes (Kaye, Joel. (1997) , p.232), going back to champagne fairs, features — Brugge, Lubeck and Danzig (modern  Gdansk Poland).

MATTER OF METHODOLOGY.

Studying trade  of HL I founded differences evidences about English trade in Eastern Baltia when was well known about English consumer  fur of Russian squirrel also appearance gold English  coins nobbles  with image ship  on the back side began to stamp on constantly since 1344 г.( Allen, 2012, Gullbekk. 2014).

We proceed from the fact that trade    on national currency it is an indicator of the country of origin of one or another money, and also the place of parking of money in the end. Therefore, when a historical and economic source refers to English nobles, there is clearly a presence of English merchant or, if it is a question of paying the eastern goods with guilders, then it is a question of trade with the Netherlands.

Because of the ration Gold was smaller in volume and weight, it contributed to the development of trade because of the possibility of moving in Long-distance trade-space. A special problem until recently was a significant difficulty, like the diversity of monetary systems, where coins and ingots also had a tendency to decrease towards weight, while retaining their nominal value. With the advent of the golden coin, bimetallism appeared, studded by P. Spufford (1989).

The enormous difference in weights and measures and the absence of uniform standards of quality (Lesger, 2006. P.252). Since 1341 German cites became mint golden coin «Gulden» not very match numerous & England 1344 start output gold nobles (Gulbekk 2014). German monetary  authority had made attempt to create untied coin system was  Wendischer Münzverein of other German Hansa towns. 1379 — 1569. Because at Cologne and at Lübeck marks were quite independently trans-formed into units of account, of 12 and 16 schillings respectively, and pounds were not used there (Nightingale, 2007, p.237; Spufford, 1986. P.XXI-XXII & map). So in modern calculation became to use weight money units in grams that allows to comprise dates from others countries (Retsö,  Söderberg, 2015, S.1-5; Söderberg 2013. P.82-85; Khan 2015). It’s important to exactly measureless (Kaye, 1997, p.228).

Such mean we can establish purchasing power parity (PPP) and compare value  1 gramm precious metal.

The price of Novgorodian furs increased: Primary in Novgorod was 5 roubl  (1 kg). per  thousand skins. In Danzig the measure not in Russian ruble but in Prussian marks 30(5.7kg) &10 livres in Brugge (6,5 kg). Increasing in 6,5  times.

So HL acted the Law of One Price (Lo, Zivot, Volcraft, Wolf, Person, Ogilvi).as economical mechanism supported exchange trade in HL as fundamental base. Before it  scientists of economical history studied about demand if price stability in British & continental Europe but action of LOP approval this fact “as in 1484 when in Cologne merchant refused to part with 4,840 bushels of salt for less than is 4s per bushel, although the mayor had fixed the price the price at is.” (Lloyd, 1991, p.237-238).

In Flanders British merchant bought  furs on his gold nobles. J.Munro (1972. P. 53) wrote: English merchants spent the golden Nobel in Flanders with such persistence, as if they wanted to cause damage and the Crown.

Only cross-course transaction allows British merchants get income. The pursuit of royal profit thus prevented local money, many of whom were prominent merchants possessed of both capital and financial expertise, from developing banking services. Instead the Crown turned to the Jews, and then to the Italians (Nihgtangale, 2007. P.373).

So we must to write evidences about using English nobles in the trade of Baltic. Contemporary achievements allows to study process the game on cross-courses across goods, when the gold was easeer because was expensive. So, Gold (nobles) – Goods (fabricks)  — silver (coins. bars) & Turnover back order.

Available in the historiography of the datas about the sufferings of the English in trading in the Baltic it would seem that there was resistance to the objections as that England was a member of the HL, however in 1467 was ban to trade English merchants in Baltic sea (Burkhard, 2010, p.68) & then in 1476 HL bun to trade Holland English fabrics with Novgorod, also Polis (Dolinger Ph., 1964, p.293).

England imported from Bruges 300 thousand squirrel per year. If the British bought all this goods in Brugge, then they had to pay in silver 1950 kg (about 2 tonn). In Brigge ratio was 1\11 (Uytven, R. van., 1981, p.421-422. Prevenier W.,  Blockmans W., 1986, p.394-395.) consequally – 21104 nobles cost all squirrel fur import.

So English merchant found other means for penetration on Eastern Baltia. That to buy furs goods on first markets also to founder  trade companies for trade into Novgorod.

The price problem on of the HL & in Medieval in general very dispute. I think the prices have a change die it devaluation of national currency.

Now we not discus the sketch of Parshe & laskers – great German encomiasts who using currently. But we here  to do  try how worked mechanism  price formation on the foreign trade.

Apparently technical analysis  it’s usual mean for studding economical process we must find & describe fundamental bases trade witch impossible without price there change.

In general price determined  the value of goods according Hicks.  Hierarchical structure sites of Low countries  allow to suppose deferent value of the some things. Therefore appearance movement those thing  from depth  sites to the cost. Here was demand. So price formation dui to change  values according differences of the  things.

Such mean we can establish purchasing power parity (PPP) and compare value  1 gramm precious metal.

It’s need forced overcoming the LOP (Khan,    2017). but  yet T.H.Lloyd wrote about road from Vysby to England so without HL trade i.e LOP About it see below.

STRUCTURIAL & GEOGRA[HOVA; ORGANISATION TRADE ON EASTERN BALTIA.

Fur imports to the UK from the countries of the Hanseatic League are described for the first time in this article.

The significance of English trade was very great. 30 % HL market of clothes was from England (Dolinger Ph., 1964, p.271)

English merchants bought Russian skins in numerous 300 th.per year – it was cloth was water repellent in autumn & spring period. At this time England was a largest exporter of yeanling skins, it was 1\5 import in Lubeck’s import in 1368 (Dolinger Ph., 1964, p.271). It’s very glad that we have some data on Baltic trade including English which noted on the one year this old time – 1368. Before it we must to describe structural & geographical situation because historical economy of Low countries claimed about hierarchical structure of cities organization in Low countries. .

Hierarchical stricture of cities appears since possible XII from Belgium (Stabel 1992, p.341; Uatven 1992 3) to Lvov & Novgorod.

Meanwhile the towns of the first level have a  prosperity, where incomes also debts was calculated in gold florins (Neal, 2015, p.33). According polish & German data the goods delivered from  Cracov- Wrozlav- Posnan to the ports Danzig – Stettin (Burkhardt, 2010, s.79, note 9; Le goff, s.167. Samsonowixz 1992, s.471-475; Kaye, Joel. 1997, p.228).

Gotz’s data  based of historical agreements Russian towns –Smolensk, Polosk, Nogorog with trade HL also Gotland showed how Novgorod ignored the Law on one price delivered in Sweden their goods. Therefore England  get furs note very high prices. At this time we must so say that Russian damping on relation with trade HL. (Bown Ch.P. 2005).

summation of Goets datas very interesting because the first level towns became not Riga Revel Pearnu, Konigsberg & Gotland-Visbvu. So it is very impotent achievement of  historical economical  on Low countries for study on un-known process in Baltic region.

So when we found datas of export\import  from Baltish towns Riga-Reval – Konigsberg into the Lubeck at the one date 1368. (Tabl.1). I think how part belonging to  Pskov & Novgorod – need to study.

Tabl. 1. Lubeck’s export/import/turnover in 1368 from the ports from Eastern Baltia (in Lubecks Marks by 243 gramms) (by (Goets, 1922.p.199).

 

	Pearnu	Riga	Revel	Total
1	186/20526/20712	3270/14120/17390	15624,25/14147,25/29771.5	19080,25/48793.25/67873.5 In marks
2	45198/498636/503834	765180/3304080/4069260	3796692,75/3437781,75/7234474,5	4636500,75/11856759,75/16493260,5 (in gramm of silver)
3	0,008196./19,364/6.212	1,44/13,32/5.222	6,88/13,346/8.94	Path of total export\import/ turnover of Lubeck. 227\106/333th.Marks (53 t 118 kg/24 t 804 kg/80 t 919 rg). %%.

 

It ‘s easy to see that the total trade with Lübeck of the three coastal cities that have direct links with Pskov and Novgorod was 1368 21%, and a technical analysis of the data allows us to express an expert opinion that despite the seemingly awkwardness of the figures shown in the table in weight silver, allows you to identify the turnover of Lübeck, amounting to 81 tons in 1368. The turnover of the three Baltic sea cities with 16.5 tons, can be compared with the value of the Livonian convoy 1404, described here. As we will show below, the cost of this convoy was 12 tons in silver, and these data are established on the basis of appropriate methodological approaches, and the results are close to the annual turnover of the Novgorod fur trade in the Baltic region.

However. These biggest figures not be afraid our  matter. Because  mostly trade operation were made with barter sketch. (Lesnikov M.P., 1973, s.19-20).

We have to admit that the negative balance of the statistics gives rise to serious questions, if only because it presupposes silver security that the import of Baltic cities exceeds export of 463,600.77.75 / 11856,759.75 grams of silver, i.e. 2.55 times. These data indicate that raw materials exports were less expensive than the high value-added products completely absent in the east, which had no alternative – Ipr’s & English cloths, salt, wine, non-ferrous and precious metals, including gold. However, absolute figures can hardly be challenged totally, i.e. science is on the path to concrete figures of Hanseatic trade.

As footnote  we can see data Ph.Dolinger where during 1390-1405 mid numerous Konigsberg  have a trade with West on sum 538 livres = 3497 kg every year. It’s a total data with 21 % furs (Dolinger, 1964, s.523. # 45). It’s in practically equal  turnover trade Riga & Revel of 1368. Danzig in this case not  very difficult for involved for comparison. Our task consist off establish share English trade on this process. In 1368  1/3 of Lubeck trade belonged English merchants.[1]

It must be said that the ratio of Danzig to Königsberg trade was 2 \ 1 after 1330, accounting for one third of all trade in the Baltic States with England, and the weakness of Königsberg’s trade turnover should probably be explained by higher duties and fees compared to Riga and Revel (Dolinger, 1964, p.285-286). There ia  independent English big colony, who traded with Motherland Also Prussian Grand Master wanted a good relationships with England (Lioyd, 1991, p.173-174; Jenks, 1992, p.546. 625-626). So,  Danzig had aim to involve trade stream form Gotland & Stockholm into Danzig for instance,  some path of Riga’s goods directed into Danzig than came into Flandries (Jenks, 1992, p.389; lesnikov, 1973, Af6, 77 r).[2]

As well known hierarchical structure supposed  reached to sea coast when Novgorod  Located at first level. So ,     to Revel, in particular, the goods were brought in terms of weight, duty, Hanseatic fee, called skott, as well as transportation costs, and logistics in Danzig was 2.5% by M.Lesnikov. But it’s data need in check-in because well-know about hierarchical stricture of Hansa’s cites. –In Beligeum-Nethrelands (Luximburg), Germany, Poland.  Lesnikov establish price as single on the everything of Batlic coast From Danzig to Novgorod, including, Riga, Revel. He made it on a base special false-fitted reinsurance calculation pissed from soviet  significance about colonial trade (Lesnikov, 1954, s.875-876, tabl.6), because the period Great British Empire was not well.

All historical Russian sources also Italian writes about value of squirrel is about small more than 1 gramm of Silver,

 

 

Economical historiography & historical evidences shows that Novgorod was as center which collected goods for export, including the things of luxury as analogy rarely studded Colson on London. Therefore, Novgorod was on at fisrt position in 2 parth structure on cites on HL on relation to Reval – Riga –Danzig as well as Gotland-Visbu.

As well known hierarchical structure supposed  reached to sea coast when Novgorod  Located at first level. So Revel, in particular, the goods were brought in terms of weight, duty, Hanseatic fee, named “skott”, as well as transportation costs, and logistics in Danzig was 2.5% by .by M.Lesnikov.  But it’s data need in check-in because well-know about hierarchical structure of Hansa’s cites. –In Beligeum-Nethrelands (Luximburg), Germany, Poland.

Deference monetary system of North German more circulation account money so calculation in weight of silver or gold – correct way. Goetz calculated in Mark of Lubeck , Ph.Dolinger in Libra grosso  — all of them Account money by P.Spufford & I claiming there..

Much monetary system as we said above made need hardlabor calculation of  trade operation. Modern exploration difficult twice so establishment studding in weight of precious metal –important task in single chronological period. Meanwhile in Viking era in period anglo-Scandinavian coins in England –Sweden (990-1020 was economical situation which appeared after Viking distribution (Malmer, 1997; Jomsson, 1997; Kilger, 2011; Bolton J., 2012, p.94-99). In Last Medieval we are studding on LOP Exchange but with using medieval traders differences weight money system !

Below we can try to show how to use this method on reconstruction  trade deal on barter base made in Novgorod with using English  gold  nobles for calculation.

We showed above prices for Novgorod squirrels, equal to 5 rubles. Therefore, we can safely trust the figures of J. Martin, who wrote about the 9-ruble price for 1000 skins of this animal, which we call on «Shoneverk». 1000 skins of this type will cost 1,710 gramm in domestic prices of the Novgorodian Republic (190 X 9). It remains to be recognized that the price of 30 Prussian marks or 5600-5700 g per 1000 skins “Shoneverk” was the export price that Novgorod set for the Teutonic Order, but it was supported only on the basis of a barter operation in Novgorod in 1399 (Lesnikov. 1948, p .89 r.), Here, the purchase price of a squirrel, according to my calculations, exceeded 32 rubles for 1000 skins and amounted to 5, 6 kg (175 x 32). For 6.5 thousand skins it was necessary to pay 36400g. So for 13 pieces of Ypres cloth, he had to give the equivalent or weight of 36.4 kg of silver, and 1 piece of cloth cost at Brugg 4.3 livres. (651X4.3) This trading procedure was for the merchants of Veckinchusen break even.

We must assume that this fabric was bought on the English Nobles.

SIGNIFICANCE ENGLISH TRADE IN EASTERN BALTIC.

The whole data of trade of HL very necessary due to capability to establish GDP some states-membership of HL it’s represented by in GDP as well as.[3] Here we have problem of monetization of Medieval economy which studied Nikolas Mayhem & checked M.Allen & R. Bolton (2012.p.187). So Sweden datas very interesting when according R.Edvinson in period of Black Death economical life in general felt. (Edvison R., 2011. p.170).

The degree of monetizing of Sweden economy  before 1250 was in general was limited number (Svensson R., 2017, p.200. 201). Russia especially Novgorod was a non-coin period continued before 1447.

The establishment of weight data of money circulation have a great significance. Those lesnikov wrote in DDR pressed article that Pfound grosso have a 3 riga marks (Lesnikov, 1958, #2, s.288-289). In fact,  Pfound grosso – is a Libra grosso in Flandres witch have 3 Sweden mark on 217 g., ie 651 g. Therefore in Riga Sweden merchants bought much goods from Polotsk, Smolensk , also Pskov & Novgorod.[4]

We have deference evidences  about English attendant in Eastern Baltic. Soviet made decline English & Sweden participation almost whole,

At this time the value in general of convoy consists from 3 ships leaved port of Riga in 1404. This fact is well-known in economical history (the merchant from Livonia (Riga capital) lost in 1404. (Lesnikov, 1958, p,288-290; Dolinger, 1964, p.290). But significance this fact as well as  return money back to the Livonian merchants not study still missing. The sea robberies were a important problem for trade in the Baltic when their treats need to delivered English merchants cloths into Prussia (Danzig) across Hull & Lynn (Jenks, 1992, p.128-129).

The amount of Livonian merchants demands to England was calculated in Rfound Grosso. Total  6317 Pfr.gr. 18 sL 1/4 gr. Lenitive said that 1 Pfr.gr. = 3.33  Mark of Riga (RM). Therefore value of the 3 ships was 20495.50RM , what multiplied by 208.63 gramm that will consists 4.275976 kg of silver (1425325.388 kg the cost of one ship).

Right now we ‘ll correlation with number nobles was get Livonian towns which aid in particular merchant Ewert van Megen in amount 22 th. (lesnkov 1958 s.294). He than distributed trade activity in England.

The next  we  comparison figures 4.275976 kg silver & 154 kg in gold coins. Here result 1/28, i.e.1  weght  unit of the gold equal 28 unit on silver.

So, composition was not equivalent total losses Livonian merchants – minimum in to times because bimetallism ratio was 1/12 in Easton Baltic & Novgorod but in North Germany 1/10 (Spufford, 1989. p.271, graph II).

Therefore, Livonian town get small compensation although it was enough for them.

The next result of this fact.

We have information about approximate numerous of HL trade fleet. Ph. Dolinger wrote about 300 ships for England from Lubeck with wheat. Thanks G.Krause who studded deeper this question such as 400-600 ships left off Danzig (Krause, 1990) capacity of  one ship during long time we will possibility with using above data of value one ship & total turnover in HL we got datas of whole fleet. Fleet’s Toonaj is groused during all HL history.

This is a great scientific problem. It’s need for comparisons with Italy Eastern and The Mediterranean Sea is especially  in Black sea – Venice & Levant -Venice also as we are seeing the sample with India. (Broadberry, Gupta, 2005; Neal, 2015, p.35  ets.).

Meanwhile, the development in comparison to England with North Italy shows that the number of wage-dependent workers in a few Italian was large by European standards. And the middle class has been a good case for saying that northern Italy was more advanced than England” (Britnell R., 2009; p.175, 173).

However,  Goetz (1922, s.195-245) & Dolimger (1964. p.127) wrote how Novgorod-Hansa trade was on 2 time periods: winter & summer. And we can to see this information as 2 flow of goods into Novgorod. Consequally 2 money/silver stream. We know also that  trade Sweden –Novgorod had 2 time  periods including Revel & Neva-Volhov rivers by L.K.Goetz. Michael North also noted how difficult conditions on Baltic sea made to use road 2 time off the year: Konigsberg- Pilau, & Pilau –sea. (North, 1987, s.548-549)

Trade relation mind the 2 stream of goods at this time we have a turnover the means because trade relation hold one the same traders.

Some words above are not for are nor for illustration of hierarchical structure of towns around Baltic. In particular we have sentences not only “long-distance trade” also we have sentence “long-term time”.

Just modern achievement of economical history  reveals large turnover means,made on base TAG-model how turnover money in Hansa trade may be 8-21 month. Hanseatic merchants once a year brought the Novgorodian goods from Königsberg in Bruges (Spufford 2003. P. 304; Dolinger, 1964, s.523. # 45). This allows us to make the first suggestion about the speed of money circulation. The newly created model, called the “the threshold of self-regression” (TAR), has allowed to show the speed of turnover (silver points) on the major southern Baltic routes: Flanders – Lübeck and Flanders – Prussia. It ranges from 8 to 21 months, respectively (Volckart, Volf , 2006. P. 126, 129). I did note that may be confirm by  historical sourses. (Nkhan.ru)  The datas above show that turnower may be 0.71 & with sum of Riga’s convoy we we’ll get 0.71 M skins delivered from Riga into West  The Fisher’s method need connect data for period – here one year. Here I’d like noted about relationship money circulation and prices – via coefficient (Casson M., Casson C., 2014, p.65-71).

So As result  we are getting more than 1.5M skins squirrels delivers into West part of HL. Lesnikov been as historian not economist & made mistake thought that it data may be increase by 1.5M because made it a-priori. Yet Dolinger tryed to establish export from Novgorod. But as economical historian we must interesting money stream described Fisher’s formula. Although we interesting how much Silver get Novgorod.

So, MV=PQ. Here: V- 0.71 for Baltic region- Speed turnover money from Danzig;  P – good price (30 Prussian mark per 1000 squirrels by 190 g); Q –quantities of goods (1.5 M skins).

Therefore we have 12042.25 kg. Because this gustative silver not was enough often used barter & than English nobles. The connection of the mint silver row in the Alps – is another history. At this time the level of the mint must be able on the trade in Baltic apparently in all of Europe.

After invasion of Canada English & French merchants exported to Spain , Holland & Germany is about 50 th Bewer’skins  per year (The fur trade of Canada p.71). Single fur market in Europe was destroyed.

However, let’s return to our medieval. Today we can establish when we speaking about winter & summer stream between Novgorod & Danzig also across Baltic sea –we must see the turnover money which  number consists 2 time & confirms by model by Volckart O., Volf N.

How path of Novgorod get from sum from we have datas by 1368 witch noted L.K.Goetz (Table 1)?

CURRENCY ARBITRATION  .

In the book series “Genossenschaftiche Struktureninder Hanse”, where Gotland’s trade with Eastern countries, including Pskov and Novgorod, is studied in detail, it is noted in particular that the struggle for dominance in the Gotland and Bruges markets was conducted by Pskov and Novgorod on the one hand and Revel Dorpat and Riga — with other. So  Goets was right when described competition between Cerman with Gotland merchants in Novgorod. Also Hansa & Teutonic orden have a competition on Eastern Baltia (Lesnikov, 1952, s.265).   Here in Eastern Baltia hierarchic structure which consist in direct  main good stream into Konigsberg & Danzig. Such situation allowed to held level of price thank one-two center on trade almost exchange conditions –create base of LOP.

English merchants independently purchased Russian goods in Riga, Danzig and Königbserge, paying for them in English Gold, the Nobel, but at the price of Bruges silver.

We can talk about the fundamental reasons for determining the role of arbitrage operations through a specific product in the markets of continental Europe. In the 1430s, people in England bought goods in low Countries for gold coins, whereas Burgundy bought for silver bars. There was an outflow of silver and this, in addition to attempts to impose a ban on purchases of fabrics from the British, it was also proposed to ban the export of silver bullion from Calauis.  Some time early, Despite these merchants’ constant and vigorous opposition, the ‘Employment Acts’ in their various, subsequent forms became a permanent feature of English bullionism. The following Parliament of 1391 complemented this innovation by re-imposing the old bullion law on the wool trade: this time, it required merchants to bring one ounce of gold to the Tower Mint for every sack of wool exported. The examples produced by J. Munro, testifying in favor of the integration of financial markets, can be confirmed as follows.

The Veckinchusen company, which was trying to somehow conduct a barter deal, suffered losses in a trade with Novgorod fur. The deal was made through Dorpat before Easter in 1400, when, bringing the cloth, she received money for which she bought furs here, which she sold in Bruges. We are interested in the fact that the losses were calculated in the English Nobels, which testifies in favor of the fact that English cloth, bought in Belgium, was delivered to Novgorod, and clerks’ miscalculations, about whoIe wrote early, Data bimetallism ratio gold/silver allows to establish  some amount witch no have exactly evidences. For instance. “In the year of our Lord, 1400 eight days before Easter, my brother Sievert from Flanders sent to Livonia Gildebrand von den Bockel at my expense four terlings and one piece of cloth. It cost only 132 livres 4 shillings 3 grottoes.

This cloth was traded by Giddebrand fan den Bokele in Dorpat, and for this 15 thousand 3 timmer 1 dozen «Shenverks» were received. Hildebrand fan den Bokele sent me this furs to his brother Johann fan den Bokele in Flanders, for which I received 136 livres 9 shillings 2 grottoes. From this for overhead costs in Livonia, there are 11 Riga marks, as well as a weight duty and a Hanseatic fee. Thus, a loss of about 12 nobles was received”.⁵¹⁾

Although deficit noted in English Nobles that testified about money circulation these coins in Flandreau, right now we can kg silver () try  loss in silver (weight) due to we decided all result to calculate in weight silver. So, it was 1.008 kg (12x7x12).

The desire to violate the commandments of the HL and to go beyond the scope of LOP are explicable, and the operation of this law is currently undergoing serious study in historical and economic research. Here enough to say that studying the Danzig market, Foresters understood that the emergence of Hungarian, Smolensk, Podolsk, Mazovian and Lithuanian goods, but he could not explain the presence of Swedish, Finnish goods here. The action of LOP to understand this situation LOP allowed the merchants from Sweden, buying furs in the markets of Deprt, Revel and, finally, Novgorod, hedging risks, it is profitable to sell it in East Prussia, and not deliver it through the Zund.

Consequently, the flow of goods from Novgorod through Riga or Revel went to Gotland, and from there to England, starting almost from the founding of Riga, which became a full member of the HL in 1282.

The attempt of overcoming action of LOP –via special firm-company with funding capital on 100 nobles from both brothers. (lesnikov, 1948, p,77). Certainly the fund money contribution in Brigge on local price silver. It were 1547.2 gram gold in silver 17.019,2 kg with considering of fall weight of nobles.97.25 Russian Novgorodian rouble also Livonish grivna 90 Prussian mark  or 81.5 Riga’s mark.

Veckinchusens and the Stengus brothers invested apart 200 nobels in a partnership, as well as in the Lübeck currency 387 marks 14 shillings 8 pfennigs./ Summa in al dat ic ontfaen hebbe vp 200 nobel dat wy in selschap legeden 300 mark 87 mark 6 sl. 8 pf. Lub (Lesnikov, 1948 by BW № 17, стр. 15)/.

This capital immediately in amount 200 nobles in silver form. Company was funded  at 4  augest 1405 from 4 persons / 2 brohers Vieng.& brothers Shtengus. The copmpmy g\have a ,ain aim –action in Riga.

It very actually  because  we habn/’t datas about available English gold coins in Eanter Batia as you can see the book thanks Lesnikov.1973. but here we have evidence  how Riga’s good were solt in Danzig Therefore tactic new company of Vekengausen was correct.

This example of solt Riga’s good in Danzig conformation entered goods from Visby.

In 1491, taxes collected in the Prussian kingdom in the Gold coins amounted to 17076 copies, of which only 40 copies were English nobel. (Kubiak, 1986, p.190-191). Consequently, the probability of finding an English shipwright was under these conditions, although higher than the Hungarian ducat, but still it was a very small value of 0.23425%. However, immediately 2 noble were found in the same treasures of Belarus. The latter allows us to conclude that these coins are an excellent investment mean, as far as it was possible in the Middle Ages, when it allows claiming withdrawal of funds from circulation. Here we  discussed about 200 nibbles which  entered brothers Veckinchusen into founder capital of his company.

The historical and economic literature correctly raises the question of the reasons for the insignificant number of circulated Gold coins in the Baltic, whose number could not increase Hanseatic trade. This thought was prompted by the fact that corporate trading was supposed to generate cash flow in the Gold coin.

Therefore, the study of the relationship between the purchasing power and the equivalence of gold and silver in the calculations for trade transactions is of great importance. Revealed rational in the Eastern Baltic States show the movement of precious metals and banknotes from them in the bimetallic monetary space.

In this case, we fully take into account the counting nature of money in the process of currency exchange, as well as a pair of currency ratios that have been outlined by economic historians P.Spufford, L.Neal.

As you  know England become output gold nobles since 1344 & it is important to say that gold & silver coins  stamped together  -if we studed Graphs of prof.H.Misskin (Mishkin, Harry A. 1989, p.476, 480, 481; Graph I & II). These means that silver & gold coins English cionsmaker stampted to domestic money circulation.

By this reason the nobbles were investment implement on Baltic trade. Also not right to explain refusing German & Polish merchant off Englsh gold coins.

So not amazing small quality  gold Englisg nibbles in Poland despite  according Moshkin since 1470^th years output of nobbles was increasing.

According to J.Munro, the game of cross-rates brought income through the goods, testifying to the possibility of a medieval market, which found strong support from the Benelux experts — the presence of English wool and cloth in the local markets caused an influx of merchants from different countries, so some sold goods here while others traded precious metals. In eastern trade, this phenomenon is also known.

So In Novgorod also in Eastern Baltia rate consists     1/ 11,8-12,4         m calculated other methods.

By this reason, the hoarding of nobles and Hungarian ducats by the Novgorod oligarchy in the second half of the 15th century can be explained. The spread of gold coins in Europe made it possible to abandon silver bullion as an investment money  in Novgorod. Gold has become both a freely convertible currency, and a means of preserving the value acquired in the trade of Ugra fur.

According Martin –A.Choroshkevich about 500-840th maximum skins delivers from Novgorod. Also we may to sum 450thound skins  which the merchants from Livonia (Riga capital) lost in 1404, that described above. (Lesnikov, 1958, p,288-290).

Novgorod & Riga get 1500 kg silver maximum per year in internal prices & it was only parth of Novgorodian export.      Here we used all calculation not only on money units but in weight those units of coins & bars. It’s methodological approach which itself have a significance for identification rate of differences of money systems and using rarely Sweden scholarships (Svensson R. 2017).

Novgorod’s export havn’t statistic but to establish what part of money stream can to have of Novgorod. Right now we can to establish how part of Novgoroidian export consumered into England – 20 %.

The data of coins output in England, new data of fish trade on the line Bergen to Lubeck &some data from Sweden & Demark. May be it’s fantastic. Nearest task to reveal sources of  study novgorodian trade.

Only cross-course transaction allows British merchants get income. The pursuit of royal profit thus prevented local money, many of whom were prominent merchants possessed of both capital and financial expertise, from developing banking services. Instead the Crown turned to the Jews, and then to the Italians (Nihgtangale, 2007. P.373).

CONCLUSION.

The better knowledge we seek in comparison. The reinsures economy in new History when colonization process of American continent advanced forward such problem when local Indian tribes need in europium goods made problem of delivers fur brewer into Atlantic coast very significance (The fur trade of Canada p.82-84) . But here was  mind management when inflation policy of British  French stsates made goods from Europe more expensive but local fur more cheaper. Here was held after price revolution sixteenth centuries.

 

 

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JEH — J.of economic history.

MPW – Money, Prices and Wages. Essays in Honour of Professor Nicholas Mayhem \ Ed.by Allen M., Coffman d’M. Palgrave studies in the history of finance. Cambrige, 2014.

SHER — Scandinavian Economic History Review.

[1] The poet-plague  prices were lower yet than in 1330^th although  there is some evidence of recovery in the mid-1360s (Gemmill E., 2014, tabl.4.1, p.77, 79).

[2] Published in former DDR the Lesnikov’s book not press datas about trade on English nobles in Riga, also in Prussia. In general this book not shwoes pages with sources that very difficult to use in modern time. (Lesnikov, 1973).  /here /I need  note  the word  option  L.Magnusson “Any historical account  of the development of economical ideas and doctrines must be built on text which were written in a certain ideas context and which signify meanings that, to some extent, might be difficult for us to understand” (Magnusson, 2004, p.16).

[3] We have attempts  GDP on noted question off New History at: (O’Rourke, K.H., Williamson, J. G., 2002).

[4] Differences weight standards we still  shall study. See: (Das Rigische Schuldbuch. (1872,. Pp.XLIV-L).