Venice, which is situated at the north end of the Adriatic Sea, was for hundreds of years the richest and most powerful centre of Europe, the reason being that it gained large-scale profits from the adjacent middle European markets. Venice was the major centre of trade with the Arabs and indirectly the Indians during the Middle Ages. It also served as origin of the economic development and integration of the rest of Europe during the Middle Ages. Venetian might reached its peak during the 15th century when the city-state monopolized the spice trade from India, through the Arab lands, using exclusive trade agreements. This prompted the Spanish and the Portuguese to embark on the search for the new route to India, leading to the discovery of the Americas and the start of the Modern Age. Nevertheless, only the nobility or patriciate had the right to exercise the wealth-bringing long-distance trade. It was the same patriciate that erected a monopoly of political leadership. It left production and small business to the strata of its society that were not capable of becoming a member of the council - which was the visible sign of nobility. On the other hand, they provided protection against competitors, against violation of secrecy - and exercised strict control. Introduction Venice's historical roots rest as far back as the Etruscan Culture. The settlements from which later on Venice grew up, could revive the late Roman trade with Northern Italy. Crusades and the conquest of the Byzantine Capital opened the direct ways to the East and far into Asia. But these voyages, similar to the costly convoys to Flanders, Tunisia, Syria and Constantinople, required huge amounts of capital, which normally means credit. The crusades brought intensification of trade, of which Venice took profit so that it soon ranked first among the trading nations. Already a century before the sack of Constantinople (1204) many traders' colonies flourished. This provided (especially when keeping in mind the Venetian conquest of Crete and other important points) the backbone of free trade and of the convoys of large ships sent to the markets around the Mediterranean sea. In addition it offered many opportunities to regulate the local balances of power and secured partly the means of living - especially wheat - for the mother town. Money in its core in those days mostly consisted of gold or silver. As a consequence the economy depended