Port de Vent: Difference between revisions

The [[Latinic]]-states in the southern [[Catenias]] archipelago collected a duty on their cargo, typically at 2% or higher. By the end of the 4th century CE, the tax was being collected in {{wp|Aes grave}}, an early [[Latinic]] crrency. The growth of trade in southern [[Kindreds Sea]] and the straits of the [[Catenias]] archipelago led to the development of more advanced financial techniques. Most merchants, lacking sufficient cash assets, resorted to borrowing to finance all or part of their expeditions. A typical loan for a large venture in 4th century BC, was generally a large sum of cash, lent for a short time (the length of the voyage, a matter of several weeks or months), at a high rate of interest (often 12% but reaching levels as high as 100%). The terms of the contract were always laid out in writing, differing from loans between friends. The lender bore all the risks of the journey, in exchange for which the borrower committed his cargo and his entire fleet, which were precautionarily seized upon their arrival at the port the loan was offered. This also led to high levels of piracy, which in turn led to the creation and professionalization of anti-piracy/naval forces in the southern [[Catenias]] archipelago. Due to the close quarters nature of most of the trade in the area, the smaller {{wp|Liburna}} was the primary ships used by the city states and pirates alike in the southern [[Catenias]].