#english_history 

## Trade
The Royalty had links with Gascony in southwest France -> trade exchange of wine for cloth and cereal. Just like the [[Saxon Invaders|Saxon times]], the most important trade link was once again with the Low Countries.
The sine qua non of this trade was wool, as England was renowned for its high-quality woollen products. Since no else country could supply the high demand for wool, English merchants lined their pockets by enormously increasing wool prices. ^65572e

During trade, **"chapmen"** or **"hucksters"**, itinerant merchants, would buy wool at particular village markets, bring it back to town, where it would be graded and bundled up for export or for local spinning. Larger fairs were important places where traders and producers, including the foreign ones, met, and deals could be made.

Since towns were important to nobles (profit from their produce) and kings (benefit from the increase in national wealth), the townspeople quickly managed to free themselves from feudal ties and intereference via the kings' paid "charters of freedom" which freed the inhabitants from feudal duties to the local lord.
Inside the town walls, people were able to develop social and economic organisations free from feudal rule. It was the beginning of a middle class and [[Capitalism]].

## Guilds
Within the towns and cities, society and the economy were mainly controlled by puissant "guilds" (from Saxon "gildan", to pay, due to the membership fee), who were brotherhoods of different kinds of merchants/skilled workers. These grew in the 13th century.
Their powerful grip on the society is perfectly illustrated by the fact that the town's leaders were often members of the guild. As their power grew entry into these guilds became increasingly difficult.
During the 14th century "craft" guilds emerged, whose members belonged to the same trade or craft. Each guild tried to protect its own trade interest, thus the members had the right to produce, buy or sell their particular trade without having to pay special town taxes, though they had to maintain the products' quality etc. The earliest craft guilds were those of the weavers in London and Oxford, with the London craft guilds soon becoming the so-called livery companies, 12 of which have developed into large financial institutions.