government, and possessed valuable
concessions and privileges, and imported and exported quite
extensively. The term "sterling," as applied to standard English
money, is derived from the word "Easterling," which was used as
synonymous with "German," "Hansard," "Dutch," and several other names
descriptive of these traders.

The trade with the cities of northwestern France was similar to that
with the neighboring towns of Flanders. That with northwestern France
consisted especially of salt, sail-cloth, and wine. The trade with
Poitou, Gascony, and Guienne was more extensive, as was natural from
their long political connection with England. The chief part of the
export from southern France was wine, though a variety of other
articles, including fruits and some manufactured articles, were sent
to England. A trade of quite a varied character also existed between
England and the various countries of the Spanish Peninsula, including
Portugal. Foreign trade with all of these countries was destined to
increase largely during the later fourteenth and the fifteenth
century, but its foundations were well laid within the first half of
the fourteenth. Vessels from all these countries appeared from time to
time in the harbors of England, and their merchants traded under
government patronage and support in many English towns and fairs.

*25. Foreigners settled in England.*--The fact that almost all of the
foreign trade of England was in the hands of aliens necessarily
involved their presence in the country temporarily or permanently in
considerable numbers. The closely related fact that the English were
distinctly behind the people of the Continent in economic knowledge,
skill, and wealth also led foreigners to seek England as a field for
profitable exercise of their abilities in finance, in trade, and
manufactures. The most conspicuous of these foreigners at the close of
the thirteenth century and during the early part of the fourteenth
were the Italian bankers. Florence was not only a great trading and
manufacturing city, but a money centre, a capitalist city. The Bardi,
Peruzzi, Alberti, Frescobaldi, and other banking companies received
deposits from citizens of Florence and other Italian cities, and
loaned the money, as well as their own capital, to governments, great
nobles, and ecclesiastical corporations in other countries. When the
Jews were expelled from England in 1290, there being no considerable
amount of money among na