Rise Of Venice

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Rise Of Venice

TRADE DEVELOPMENTS AND EXPANSION

Trade Monopoly -Europe relied heavily on Venice for goods as its location was strategically good, and could earn large profits -Venice had a wider variety of goods as compared to Genoa and Hanseatic League hence European states had little choice but to buy from them.

Efficiency in managing voyages and Overcoming trade competition -Voyages more frequent as could travel during winter and transport more goods. -Came up with a management system to effectively organize and monitor schedules -Genoa was Venice's main competitor which resulted in many wars. Venice defeated Genoa and dominated control in Mediterranean sea which increased trade.

Innovations in maritime technology -poor visibility was a problem with advanced technology trades became possible in winter, benefitting Venice. -had an extensive knowledge of shipbuilding so they built superior vessels  and could travel over long distances. it was propelled by oars and need not depend on wind unlike other ships. -First galley built and could carry about 200 men, formidable enough to discourage pirates from attacking them.

Attitude towards trade -Venetians were skilled and could obtain favourable trading terms like lower taxes. they could bring in priced spices and sell to gain profit. -they had an enterprising spirit, by exploring new trade routes, supplies for instance exploration of overland trade to china gave them the chance to establish relations. -foreign traders like Arabs, Greek all came to Venice and established permanent trading ports.

REFORMS IN GOVERNMENT

Preventing concentration of power -Nominating committee added identify suitable candidates for election so that no individual could dominate power. -nobles who are appointed cannot reject positions to ensure all positions in government are filled up

Effective Checks on power -Council of ten monitored activities to ensure no corruption or abuse of power. Any plot would be crushed even before any serious damage can be done -No one was above the law, it was important in dealing with corruption practices.

Specialisation of duties -as Venice grew there was a need to reorganize duties. more committees created to handle affairs of the state Council handled matters of law, finances, coinage. -Senate took charge of matters concerning foreign relations, commerce, operation of Venetian fleets,

Creation of Great Council -It settled disputes between members of councils, passed laws, mete punishments. -Members came from influential families. With growth of nobility there would be competition -to prevent rivalry, it was expanded to allow more nobles the chance to decide on Venice's future.

INNOVATIVE PRACTISES

-One example was Double entry bookkeeping. As a trader he needs to know how many goods he sold. hence this method proved effective as the standardization of debit and credit columns are helpful. -Next was Giro banking. In the past people used to carry loads of money with them now with an account in the bank he can make or receive payment at the bank.

INDUSTRIAL DEVELOPMENT

Manufacturing Industries -Trade expansion resulted in more wealth and led to increase in demand for goods -new industries emerged like the printing industry. Its connections made it easy to find buyers and obtain supplies. -More jobs created and attracted skilled craftsmen from Europe to settle down in Venice.

Trade-related industry -Shipbuilding industry benefitted immensely and Arsenal was set up to minimize noise pollution and prevent overcrowding at the main trading port. -Arsenal thus became the backbone of Venice's maritime industry and power

LEADERSHIP

Expanding the Venetian empire in Mediterranean Sea -Capture of Constantinople marked beginning of Venice's growth as a maritime empire. -with increasing trade competition military outposts were set up through use of force

Building the Venetian Empire -dandolo wanted to free Jerusalem from Muslim hence the crusade started but due to circumstances he wanted to overthrow the Byzantine emperor and take over. -this weakened Byzantine and helped Venice rise. They gained recognition from other states and controlled important territories.

-Orseolo was a capable leader who felt peace would boost trade. -he maintained relations with Byzantines and established relations in West to protect Venice's independence and obtain favourable trading terms. -brought piracy under control by disallowing trade between venetians and cities controlled by pirates which cut off their salt supply and basic necessities he won without WAR.

Establishing control in Adriatic Sea