Indo-Portuguese Trade and the Fuggers of Germany

With the discovery of the rich resources present in the countries of the Western hemisphere and consequently of the direct maritime route connecting the Atlantic regions of Europe and the East, especially India, an avenue was opened for the accumulation of capital by entrepreneurs. Capitalist enterprise began to take deeper roots in world economy. Metals like copper, silver and gold played an important role in the international maritime trade and commerce. Businessmen motivated by large profits that could be reaped from the exchange of the metals entered the mining industry. Those who had accumulated capital through small scale industries like weaving and short-haul trade made heavy investments in large scale industries like copper mining. Rulers who had become prey to financiers began to lease out the copper mines to such industrialists. Demands of trade between India and Europe provided a golden opportunity to these industrialists in finding markets for the outputs of their mines. Hence, those who had a hold on copper and other metals had better chances of enhancing?their?capital.The growth of international trade covering far-flung regions of Europe, America and Asia gave rise to the development of financial arrangements through banking and issue of bills of exchange. Big merchants and industri­alists, besides rulers, often required loans. A milieu of this nature provided ample opportunities to merchant-financiers interested in making capital out of the demands of international trade and commerce. The emergence of the Fuggers as important industrialists, merchants and financiers controlling even the elections to the Roman Empire against the backdrop of the Portuguese trade with India during the sixteenth century is a case in point. This book deals with such cases and the maritime history of regions and its influence?on?trade,?politics?and?society.