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A Country Merchant, 1495-1520Trading and Farming at the End of the Middle Ages$
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Christopher Dyer

Print publication date: 2012

Print ISBN-13: 9780199214242

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199214242.001.0001

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John Heritage's Wool Business

John Heritage's Wool Business

(p.91) 4 John Heritage's Wool Business
A Country Merchant, 1495-1520

Christopher Dyer

Oxford University Press

The account book tells us much about his business methods, including his rudimentary accounting technique, and his use of credit. The transactions allows us to follow the process through the year by which he bought wool before shearing, took it into his woolhouse, and then carried it to London for sale. He paid in instalments, using a variety of silver and gold coins, in a series of transactions conducted throughout the year. His business lacked capital and cash, and he lived from hand to mouth. The importance of the account book is to reveal a network of credit, and the bonds of trust which brought borrowers and lenders together. Heritage's wool business diminished in the 1510s, but his grazing persisted.

Keywords:   accounting, credit, coins, capital, trust, wool

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