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THE RENAISSANCE AND THE SIGNORIE
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History of Italy)
Developments
in Trade and Industry
The ending of imperial authority, quickly followed by the papal
crisis involving its transfer to France from 1309 to 1377, was
accompanied by a strengthening in the independence of the Northern
and Central Italian communes. There was also a notable economic
improvement for the majority of towns in the Po Valley and Tuscany.
In particular, while the maritime cities (Venice, Genoa etc.)
retained control of the spice trade and other oriental products,
industrial and commercial activities (especially the working
of wool and the dyeing of textiles) flourished in the cities
of the interior, like Florence and Milan, favouring the accumulation
of capital and therefore the growth of financial dealings. It
is of significance that it was in Tuscany that Francesco Datini
of Prato introduced the promissory note that was so useful for
banking transactions. Tuscan, Lombard and even Venetian and
Roman bankers financed the military undertakings of European
sovereigns and the papacy, thus increasing their own prestige
and political influence.
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