Champagne Fairs - Organization

Organization

The series of six fairs, each lasting more than six weeks, were spaced through the year's calendar: the fair of Lagny began on 2 January: the fair at Bar-sur-Aube on the Tuesday before mid-Lent; the "May fair" of Provins on the Tuesday before Ascension; the "fair of St. John" or the "hot fair" of Troyes on the first Tuesday after the fortnight of St. John's Day (24 June); the fair of St. Ayoul of Provins on the Exaltation of the Cross (14 September);the "fair of St. Remi" or the "cold fair" of Troyes on the day following All Saint's Day (that is, on 2 November). Each fair began with the entrée of eight days during which merchants set up, followed by the days allotted for the cloth fair, the days of the leather fair, and the days for the sale of spices and other things sold by weight (avoirdupois). In the last four-day period of the fairs, accounts were settled.

In actual practice, arrivals and departures were more flexible and efficient, relying on flexibly formed and dissolved partnerships, which freed the "silent" partners from actually undertaking the arduous journey on each occasion, delegated agents (certi missi) who could receive payment and undertake contracts, and factors, integrated with communications and transportation, and the extensive use of credit instruments in the trade.

The towns provided huge warehouses, still to be seen at Provins. Furs and skins traveled in both directions, from Spain, Sicily, and North Africa in the south via Marseilles, and the highly-prized vair, rabbit, marten and other skins from the north. From the north also came woolens and linen cloth. From the south came silk, pepper and other spices, drugs, coinage and the new concepts of credit and bookkeeping. Goods converged from Spain, travelling along the well-established pilgrim route from Santiago de Compostela and from Germany. Once the cloth sales had been concluded, the reckoning of credit at the tables (banche) of Italian money-changers effected compensatory payments for goods, established future payments on credit, made loans to princes and lords, and settled bills of exchange (which were generally worded to expire at one of the Champagne fairs). Even after trade routes had shifted away from the north-south axis that depended on the Champagne commodities fairs, the fairs continued to function as an international clearing house for paper debts and credits, as they had built up a system of commercial law, regulated by private judges separate from the feudal social order and the requirements of scrupulously maintaining a "good name", prior to the third-party enforcement of legal codes by the nation-state.