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Merchant guilds provided loans and aid to merchants and their families. A merchant guild was a group of workers in the same industry during the Middle Ages. Merchant guilds also helped with trade between other civilizations.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoThe Merchantsâ?? Guild did provide loans and aid to the Medieval Society. The purpose was to enable the merchants do business effectively.
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What were guilds and why were they important?
Guilds were associations of craftsmen or merchants. They were established primarily to protect the interests of their members. As they protected members from competition, they also protected the customers from poor quality work by people who were not skilled, established standards for members and the work they produced, and provided a united approach to economic policies and politics. The earliest medieval guilds may actually have been established during the time of the ancient Roman Empire. Guilds also developed in other places, and Anglo-Saxon guilds probably arose from a separate tradition. As the Middle Ages went on, more guilds were established, and they became more involved in politics. There were a number of towns and cities run by guilds, especially in Italy and parts of Germany. The political power of guilds probably increased the attractiveness of starting new guilds. Combinations of guilds, such as the Hanseatic League, eventually had a great deal of strength, with military and diplomatic power independent of any country. The earliest universities in Western Europe appear to have been established as guilds of educators.
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