Silver Summoned by the Loom: Woollen Textiles and Coinage of Flanders

The Ceaselessly Working Looms

In the twelfth century, in the County of Flanders in the southern Low Countries, cities such as Bruges, Ghent, and Ypres grew rapidly into one of the most densely populated urban areas in Europe. The driving force behind this was English wool, which arrived from across the sea.

The shorn wool crossed the sea to the looms of Flanders. The woven woollen cloth then travelled across the continent. In the city workshops, the looms worked ceaselessly, summoning not only thread but also silver.

A Knot in the Trade Routes

Flemish woollen cloth was transported from north to south. From the twelfth to the thirteenth century, six great fairs were held annually in four towns in the County of Champagne, where woollen cloth from Flanders in the north was exchanged for silk and spices from the south. At the end of the fairs, Italian money changers would set up their tables to settle payments. This place was also Europe's clearing house.

Flemish ships also headed further south, to Lisbon, a port open to both the Atlantic and the Mediterranean. Ships from Flanders and England entered this port from the north, while ships from North Africa arrived from the south. Flanders was one pole of a wide-ranging trade network.

Wealth Transformed into Large Silver Coins

The wealth of Flanders, which prospered through commerce, changed the face of its coinage. Around 1275, a large silver coin, the groot, was struck in imitation of the French king's gros tournois, raising the currency's denomination. Furthermore, in 1339, a monetary agreement was concluded with neighbouring Brabant to strike coins of a common type.

However, this wealth also became a target for neighbouring powers. The cost of the war fought by Philip IV of France against Flanders was one reason for the debasement of coinage that began in 1296. Moreover, Philip IV's protectionism directly hit the great fairs of Champagne, an important market for Flemish woollen cloth, causing their tax revenues to fall from the range of 8,000 livres to 1,000 livres.

The County Passes into Ducal Hands

As trade routes shifted from inland to sea and circumstances changed, Flanders itself faced a major turning point. In 1384, Philip the Bold acquired this land through marriage. This marked the beginning of the unification of the Low Countries by the House of Burgundy.