Genoese Trade with Syria in the Twelfth and Thirteen Century

In Genoa, Italy trade with Syria in the eleventh and twelfth century was the highly profitable. Because of high profits a new system of trade agreements was created. Trade in Syria was established during the First Crusade. As this trade evolved over time so did the contracts. These contracts existed due to the individualized nature of trade. In Venice for example trade was conducted in a way which benefited the state. In Genoa the individualized nature of trade created advantages in throughout the centuries for the Genoese traders. Trade however, with Syria was not constant warfare, civic discord, ambitions of Lombardy to the north, and economic disasters. The advantages for study of the Genoa-Syria trade is the clear and effective records

There were two primary forms of contracts in Genoa during this time period. The societas and the accomendatio. The societas was a partnership formed in an effort to allow more dedication of more capital to the trade with Syria and spread out the risks. Trade during this period could be dangerous and there was a chance cargo could be lost. The agreement worked with one investor contributing two thirds of the capital and received half the profits, this person did not have to travel with the cargo. The factor or person who traveled with the cargo, paid one third the capital and received half the profits. The accomendatio was an evolution of this system which rose to more prominence in 1179. This system was significantly different. Now the investor contributed all the capital and received three fourths of the profit, they did not travel with the cargo. The factor had no capital requirement and received one third of the profit, they did travel with the cargo. This system removed one on the major barriers to entry for traders and created a new class of traders. This also improved capital and labor with both inputs benefiting from this more specialized trade agreement system.

Our time in Genoa allowed us to glimpse into the rich history of trade within the city. From our first view of the city in the air it is evident Genoa is still a port city and it is apparent the influence trade played on the city. In the old part of the city the wealth of the buildings is apparent especially with the consul building. During our tour of Genoa learned about the different families within Genoa who acted as the investors in this trade and grew wealthy from it. The city itself is a reflection of the trading prowess and constant search for more effective methods to conduct trade.

Old Genoese Government Building