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A new business development was the concentration of trade and its profit to warehouses and storage depots. Raw cotton from Central America was stored in Cadiz, that from Brazil in Lisbon, Indian cotton was pooled in London, while Marseilles took that from the Levant. Mainz and Lille were great wine depots. By the end of the century, the Europe of fairs was turning into the Europe of warehouses. Exchange rates of silver and gold varied from time to time, seriously affecting the European economy. France over-valued silver and so that metal was attracted there, while Venice, Italy, Portugal, England and Holland put a high price on gold. (Ref. 292 ) Finally we must emphasize the tremendous effects from the extensive overseas colonies of multiple European nations. The map of the next page is well worth study in this regard.

Southern europe

Eastern mediterranean islands

The Ottoman Empire maintained its domination of the eastern Mediterranean islands with the exception of Malta, which remained independent under the Knights of Malta, until Napoleon's troops conquered it in 1798. (Ref. 38 , 86 )

Greece

Greece was still docile under the Ottomans but Greek sea-farers and traders became prosperous at the end of the century as blockade runners through Napoleon's overseas domains and through other waters. By the Treaty of Kuchuk Kainardji (see page 942) the Turks allowed Russian ships to sail on the Black Sea, but since they had no ships or seamen of their own in those waters, they accorded Greeks and other Christians the right to fly the Russian flag.

Upper balkans

In 1711 Peter the Great of Russia vowed to free the Balkans from "the enemies of Christ". Both Moldavia (now a part of both Romania and the Soviet Union) and Wallachia pledged to help Peter, but only Moldavia actually supplied any troops and at the last minute Wallachia double-crossed the Russians so that Peter ended up pocketed with only 138,000 infantry, almost surrounded by 200,000 Turks and Tatars. The Russians surrendered, giving Azov and the Tagenrog harbor back to the sultan, abandoned their southern fleet and evacuated Poland. Russia did not give up any territory about the Baltic. Karl (Charles) XII of Sweden, who had just spent over three years in Moldavia, could now go back to Sweden. Meanwhile, Brancovo, the Hospodar of Wallachia, was beheaded by the Turks for his original thoughts of helping Czar Peter, even though in the end he had reneged. (Ref. 131 )

As a result of a war of the Ottomans with Austria and Russia again in 1736 to 1739, northern Serbia and Belgrade were freed from Austrian domination. Again, in the First War of Catharine, Moldavia and Wallachia were both overrun by Russian troops and about 7 years later (17~1) by an Austrian-Russian Treaty the Austrians were to receive the whole western half of the Balkans. Af ter the Second War of Catharine, the Austrians gave up Belgrade in return for a strip of northern Bosnia, while Moldavia and Bessarabia were returned to Russia.

Maize from America had been grown in gardens in the Balkans under at least ten different names for many years, but it was not until this century that it began to be grown in the wide open fields, as in much of the rest of Europe. (Ref. 260 )

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Source:  OpenStax, A comprehensive outline of world history. OpenStax CNX. Nov 30, 2009 Download for free at http://cnx.org/content/col10595/1.3
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