Trade
The Scottish economy of this period was dominated by agriculture and by short-distance, local trade. There was an increasing amount of foreign trade in the period, as well as exchange gained by means of military plunder. Generally, continental trading centres were confined to the eastern seaboard, and exchange with Scandinavia and Ireland on the western seaboard. The first Scottish coins were minted in the reign of David I, perhaps in the silver gained by David's acquisition of the Pennine silver mines. By the end of this period, coins were replacing barter goods, but for most of this period most exchange was done without the use of metal currency.
Read more about this topic: Economy Of Scotland In The High Middle Ages
Famous quotes containing the word trade:
“a highly respectable gondolier,
Who promised the Royal babe to rear
And teach him the trade of a timoneer
With his own beloved brattling.”
—Sir William Schwenck Gilbert (1836–1911)
“Teaching your child a trade is better than giving him a thousand ounces of gold.”
—Chinese proverb.
“The trade of advertising is now so near perfection that it is not easy to propose any improvement. But as every art ought to be exercised in due subordination to the public good, I cannot but propose it as a moral question to these masters of the public ear, whether they do not sometimes play too wantonly with our passions.”
—Samuel Johnson (1709–1784)