heavily on the timely afflux and efflux of these metals. So Venice had to develop a highly flexible system of currencies and change rates between coins consisting of silver and gold, if it wanted to preserve and enhance its role as platform and turntable of international trading. In addition the change rates between the currencies circulating within Venice and outside had to be adjusted adequately. On the other hand, the nobility had hardly any scruples to force its colonies to accept change rates, which were only useful for the fisk. In addition Italian traders were used to means of payment, which could help avoiding transportation of gold and silver which were expensive and dangerous. Crediting became a way to bridge the ubiquitous lack of noble metals, and at the same time, to accelerate goods turnover, were it with the help of a simple bank transfer, were it with the aid of a bill of exchange. Also available and helpful were to float loans, used as a kind of traders' money, circulating from hand to hand. Cambists played an important role just as well as the later state-controlled banks whose predecessors in Venice was the "wheat chamber" or Camera frumenti. Despite the predominance of intermediary trade, ship building was an industry of utmost importance right from the beginning - and it was by far the most important employer. Quite important in the later Middle Ages were the production of drapery, of silk and glass. Still the salt monopoly was of utmost importance, even more so the trade of wheat and millet. This trade did not contribute less to the wealth of the patriciate than the abundant rest of the trade. In early Modern Times the power of Venice reached its climax, but the tiny super power was unable to confront the enormous powers of the Ottomans and of Spain with their gigantic resources. By and by Venice lost its colonies and its monopoly for the trade in the Adriatic Sea. In addition capital of the Netherlands and of England overran the Venetian competitors, as they did not accept any Venetian trade monopolies and trade moved into the North Atlantic. In addition market access became ever more difficult because protectionism became rampant in most Mediterranean and European states. Close to the end, the Venetian state became a conservative agrarian system, which, despite increasing tourism, met incomprehension. There was no broad decadence but