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Unformatted text preview: to create more wealth). 7. Why does the author mention that English and Dutch ships carrying rye from the Baltic states eached r Spain and Portugal ? ○ To suggest that England and the Netherlands were the two most important trading nations in seventeenth­century Europe ○ To suggest how extensive trading relations were ○ To contrast the importance of agricultural products with manufactured products ○ To argue that shipping introduced a range of new products Paragraph 6在The development of banking and other financial services contributed to the expansion of trade. By the middle of the sixteenth century, financiers and traders commonly accepted bills of exchange in place of gold or silver for other goods. Bills of exchange, which had their origins in medieval Italy, were promissory notes (written promises to pay a specified amount of money by a certain date) that could be sold to third parties. In this way, they provided credit. At mid­century, an Antwerp financier only slightly exaggerated when he claimed, “0ne can no more trade without bills of exchange than sail without water." Merchants no longer had to carry gold and silver over long, dangerous journeys. An Amsterdam merchant purchasing soap from a merchant in Marseille could go to an exchanger and pay the exchanger the equivalent sum in guilders, the Dutch currency. The exchanger would then send a bill of exchange to a colleague in Marseille, authorizing the colleague to pay the Marseille merchant in the merchant's own currency after the actual exchange of goods had taken place. 321 [email protected] 在在在在在在 www.liuwenyong.com 在在在在在在在在在在在在在在在,在在在在在在在在在在 8. By including the quotation in paragraph 6 by the financier from Antwerp, the author is emphasizing that ○ sailing was an important aspect of the economy ○ increasing the number of water routes made trade possible ○ bills of exchange were necessary for successful trading ○ financiers often exaggerated the need for bills of exchange 9. According to paragraph 6, merchants were able to avoid the risk of carrying large amounts of gold and silver by ○ using third parties in Marseille to buy goods for them ○ doing all their business by using Dutch currency ○ paying for their purchases through bills of exchange ○ waiting to pay for goods until the goods had been delivered Paragraph 7在Bills of exchange contributed to the development of banks, as exchangers began to provide loans. Not until the eighteenth century, however, did such banks as the Bank of Amsterdam and the Bank of England begin to provide capital for business investment. Their principal function was to provide funds for the state. 10. According to paragraph 7, until the eighteenth century, it was the principal function of which of the following to provide funds for the state? ○ Bills of exchange ○ Exchangers who took loans ○ Banks ○ Business investment Paragraph 8 在 The rapid expansion in international trade also benefitted from an infusion of capital, stemming largely from gold and silver brought by Spanish vessels from the Americas. This capital financed the production of go...
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This note was uploaded on 09/17/2013 for the course LANGUAGE 13DL208 taught by Professor Wang during the Fall '13 term at East China Normal University.

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