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Abstract
The varities of economic growth were as great as the number of towns which spawned that growth in the middle ages. Ragusa, (Dubrovnik), one of the more ancient Lediterranean ports, achieved growth later than most, with her initial prominence coinciding with her years within the Venetian empire, 1205-1358. With an overlord as powerful as Venice and a neighbor as ambitious as Serbia under the Nemanjić dynasty, her vision of future prosperity was a far cry from the uncluttered and open vista which had confronted other kediterra- nean towns. This was a determining factor in her life. An aristo- cratically governed town, the noble merchant citizenry sought to win their place through diplomacy rather than force. This, in turn, emphasized the imperative of civil order at home and of a small population. Folitics in the thirteenth and fourteenth centuries was built on the few assets the town possessed. The citizens performed as middlemen for the nearby powers, and the town's fortunes were built on services to those who had little to fear from her ambitions.
Maintaining the role of middleman, prosperity grew with the metals trade between the Baikan interior and the Italian cities. The Nemanjas, following the example of Hungary and Germany, minted their precious metal into coin, which, through the agency of the Ragusans, brought them the wealth of the Italian market place. The Venetians showed a particular interest in Balkan silver, although their interest was camouflaged by a prohibition of Serbia's silver coin, the denarius, (1282). On investigation it becomes evident that the coin was prohibited from circulating at Venice, then it was conveyed to the mint and turned into Venetian coin.
This was the line of trade Ragusans pursued: goods for Serbia, coin for Venice. Through adroit and often arduous diplomacy they steadily improved their role in this trade. No sooner had it become successful than the Ragusans found an alternative market for silver among the Florentine bankers. Ragusa's knowledge of the European market caused a shift in silver production. Whereas simple coin dominated trade in the early years of the fourteenth century, Ragusans increasingly merchandised their silver as crafted luxury wares. Venice appears to have accepted this shift, since it helped supply her expert trade with high value, low bulk articles for the luxury trade.
By mid-century Ragusans felt free to withdraw from Venetian rule, and this was accomplished peacefully, while maintaining access to the Venetian market. Her success reveals important information about the economic policies of the Adriatic communes, and about the change in priorities for silver in Europe in the fourteenth century. While Ragusa's story is not one of dramatic or sudden success, it reveals a continuity of purpose and method which proved to be a solid
foundation for economic growth. Her success also indicates that Venice could, under certain circumstances, be more tolerant of the growth of the other Adriatic communes than has sometimes been supposed.
