Francesca Trivellato Yale University
[email protected] The Sephardic Diaspora and Cross-Cultural Trade in the Seventeenth and Eighteenth Centuries Cal Tech, 5 April 2008 This paper is a slightly modified version of Chapter 6 in my The Familiarity of Strangers: The Sephardic Diaspora, Livorno, and Cross-Cultural Trade in the Early Modern Period (New Haven and London: Yale University Press, forthcoming in 2008/09). Please do not cite without permission. With regard to your request for early information, we will say, as you know well, that those who trade from one distant place to the other never know what might happen to them. Ergas & Silvera to Carlo Niccolò Zignago in Genoa (1743)1 All merchants involved in long-distance trade, especially before modern means of transportation, communication, and international arbitration came into existence, went through great pains to make sure that their agents and correspondents overseas were both competent and reliable. As Ergas and Silvera wrote in a letter to another Sephardic merchant in Venice in 1732, what mattered to them most was to be able to rely on a trustworthy and diligent person ("persona de confianza y deligente").2 A commission agent was normally rewarded with a percentage of the transactions that he conducted on behalf of a third party, and for which he assumed full legal responsibility, unlike a salaried employee who received fixed compensation to execute the orders of his employer and carried no liability for them. A reputable agent was one who seized the best available market opportunities for his principal and served him loyally; he knew when and what to buy and sell, what ships to freight in order to minimize the risks of war and piracy, and what exchange rates were most favorable at any given moment.