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Shaping Medieval Markets Global Economic History Series Series Editors Maarten Prak, Utrecht University Jan Luiten van Zanden, Utrecht University Editorial Board Gareth Austin, Graduate Institute of International and Development Studies, Geneva Şevket Pamuk, London School of Economics and Political Science Kenneth L. Pomeranz, University of California, Irvine Tirthankar Roy, London School of Economics and Political Science Peer H.H. Vries, University of Vienna VOLUME 8 Th e titles published in this series are listed at brill.nl/gehs. Shaping Medieval Markets Th e Organisation of Commodity Markets in Holland, c. 1200–c. 1450 By Jessica Dijkman LEIDEN • BOSTON 2011 Cover illustration: Scene from a fair in Le Chevallier Errant by Th omas III de Saluce (France, 1403–1404). BnF, MSS Français 12559, f 167. Th is book is printed on acid-free paper. Library of Congress Cataloging-in-Publication Data Dijkman, Jessica. Shaping medieval markets : the organisation of commodity markets in Holland, c. 1200-c. 1450 / by Jessica Dijkman. p. cm. -- (Global economic history series, 1872-5155 ; v. 8) Includes bibliographical references and index. ISBN 978-90-04-20148-4 (hbk. : alk. paper) 1. Netherlands--Commerce--History--To 1500. 2. Commodity exchanges--Netherlands--History--To 1500. 3. Markets--Netherlands-- History--To 1500. I. Title. II. Series. HF3615.D55 2011 332.64'4094920902--dc23 2011022975 ISSN 1872-5155 ISBN 978 90 04 20148 4 Copyright 2011 by Koninklijke Brill NV, Leiden, Th e Netherlands. Koninklijke Brill NV incorporates the imprints Brill, Global Oriental, Hotei Publishing, IDC Publishers, Martinus Nijhoff Publishers and VSP. All rights reserved. No part of this publication may be reproduced, translated, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from the publisher. Authorization to photocopy items for internal or personal use is granted by Koninklijke Brill NV provided that the appropriate fees are paid directly to Th e Copyright Clearance Center, 222 Rosewood Drive, Suite 910, Danvers, MA 01923, USA. Fees are subject to change. CONTENTS List of Tables .......................................................................................... ix List of Illustrations ............................................................................... xi List of Abbreviations ............................................................................ xiii Preface .................................................................................................... xv 1. Introduction................................................................................... 1 1.1 Holland: a commercialising economy .............................. 3 1.2 An institutional approach .................................................. 16 1.3 Research questions .............................................................. 22 PART I THE INSTITUTIONAL FRAMEWORK: TRADE VENUES 2. Fairs ................................................................................................. 35 2.1 Introduction ......................................................................... 35 2.2 Fairs and transaction costs ................................................. 36 2.3 Fairs in Holland: a chronological reconstruction ........... 42 2.4 Economic function .............................................................. 51 2.5 Power and politics ............................................................... 62 2.6 Conclusions .......................................................................... 72 3. Rural markets c. 1200–c. 1350: a late start? ............................... 74 3.1 Introduction ......................................................................... 74 3.2 Urban intrusion or urban attraction ................................. 77 3.3 Lords and their involvement with rural markets ............ 96 3.4 Conclusions .......................................................................... 106 4. New institutions for rural trade (c. 1350–c. 1450) ................... 108 4.1 Introduction ......................................................................... 108 4.2 Seaside fi sh markets and the sea-fi sh trade ...................... 110 4.3 Rural weigh houses and the dairy trade ........................... 131 4.4 Conclusions .......................................................................... 157 5. Th e Dordrecht staple .................................................................... 159 5.1 Introduction ......................................................................... 159 5.2 Th e Dordrecht staple in an international perspective .... 161 vi contents 5.3 Dordrecht and its neighbours ............................................ 179 5.4 Conclusions .......................................................................... 197 PART II THE INSTITUTIONAL FRAMEWORK: RULES AND PRACTICES 6. Weighing and measuring ............................................................. 201 6.1 Introduction ......................................................................... 201 6.2 Control over weights and measures .................................. 203 6.3 Standards and standardisation .......................................... 213 6.4 Enforcement ......................................................................... 223 6.5 Conclusions .......................................................................... 233 7. Contract enforcement .................................................................. 236 7.1 Introduction ......................................................................... 236 7.2 Merchant guilds ................................................................... 239 7.3 From divine judgement to schepenkenning ...................... 249 7.4 Sureties .................................................................................. 255 7.5 Public registration of debts ................................................ 259 7.6 Conclusions .......................................................................... 270 PART III MARKET PERFORMANCE: QUANTITATIVE TESTS 8. Market integration ........................................................................ 275 8.1 Introduction ......................................................................... 275 8.2 Th e impact of institutional and non-institutional factors .................................................................................... 279 8.3 Methods and data ................................................................ 286 8.4 Price volatility ...................................................................... 293 8.5 Price integration .................................................................. 301 8.6 Conclusions .......................................................................... 311 9. Market orientation ........................................................................ 313 9.1 Introduction ......................................................................... 313 9.2 Holland ................................................................................. 317 9.3 Flanders ................................................................................ 325 contents vii 9.4 England............................................................................. 332 9.5 Conclusions ..................................................................... 340 10. Conclusions ................................................................................. 343 10.1 Endogenous factors ......................................................... 343 10.2 Exogenous factors ........................................................... 352 10.3 Commodity markets and factor markets ..................... 355 Appendix A Survey of fairs .............................................................. 359 Appendix B Rural weigh houses in the north of Holland around 1400 ................................................................. 387 Appendix C Charters of urban liberties ......................................... 389 Appendix D Wheat prices ................................................................ 393 References .............................................................................................. 409 Index ...................................................................................................... 439 LIST OF TABLES 1 Number of medieval fairs in Holland ..................................... 43 2 Rural weigh houses in the north of Holland around 1400 ............................................................................................. 133 3 Dairy shipped to the IJssel towns by ships from Waterland and Zeevang, Kennemerland, and West-Friesland, 1439–1441 ................................................................................... 137 4 Seasonal increase or decrease of wheat prices in selected locations and periods ................................................................ 295 5 Annual wheat prices in 1437/38, 1438/39, and 1439/40 as a percentage of average annual prices over the years 1427/28 to 1436/37 in Holland, Flanders, Brabant, and England ....................................................................................... 299 6 Correlation coeffi cient of logs of annual average wheat prices (in grams of silver per hectolitre) between Noordwijkerhout and seven other locations in the Low Countries and England per decade, 1410/11–1439/40 ......... 308 7 Share of labour