Para6. The development of banking and other financial services contributed to the expansion of trade. By the middle of the sixteenth century, financiers and traders commonly accepted bills of exchange in place of gold or silver for other goods. Bills of exchange, which had their origins in medieval Italy, were promissory notes (written promises to pay a specified amount of money by a certain date) that could be sold to third parties. In this way, they provided credit. At mid-century, an Antwerp financier only slightly exaggerated when he claimed, “0ne can no more trade without bills of exchange than sail without water."  Merchants no longer had to carry gold and silver over long, dangerous journeys. An Amsterdam merchant purchasing soap from a merchant in Marseille could go to an exchanger and pay the exchanger the equivalent sum in guilders, the Dutch currency. The exchanger would then send a bill of exchange to a colleague in Marseille, authorizing the colleague to pay the Marseille merchant in the merchant's own currency after the actual exchange of goods had taken place.

4. By including the quotation in paragraph 6 by the financier from Antwerp, the author is emphasizing that

Para8. The rapid expansion in international trade also benefitted from an infusion of capital, stemming largely from gold and silver brought by Spanish vessels from the Americas. This capital financed the production of goods, storage, trade, and even credit across Europe and overseas. Moreover an increased credit supply was generated by investments and loans by bankers and wealthy merchants to states and by joint-stock partnerships—an English innovation (the first major company began in 1600). Unlike short-term financial cooperation between investors for a single commercial undertaking, joint-stock companies provided permanent funding of capital by drawing on the investments of merchants and other investors who purchased shares in the company.

6. According to paragraph 8, each of the following was a source of funds used to finance economic expansion EXCEPT

Para1. In the wake of the Roman Empire's conquest of Britain in the first century A.D., a large number of troops stayed in the new province, and these troops had a considerable impact on Britain with their camps, fortifications, and participation in the local economy. Assessing the impact of the army on the civilian population starts from the realization that the soldiers were always unevenly distributed across the country. Areas rapidly incorporated into the empire were not long affected by the military. Where the army remained stationed, its presence was much more influential. The imposition of a military base involved the requisition of native lands for both the fort and the territory needed to feed and exercise the soldiers' animals. The imposition of military rule also robbed local leaders of opportunities to participate in local government, so social development was stunted and the seeds of disaffection sown. This then meant that the military had to remain to suppress rebellion and organize government.

1. According to paragraph 1, the Roman army had the most influence on those areas of Britain that were

Para1. In the wake of the Roman Empire's conquest of Britain in the first century A.D., a large number of troops stayed in the new province, and these troops had a considerable impact on Britain with their camps, fortifications, and participation in the local economy. Assessing the impact of the army on the civilian population starts from the realization that the soldiers were always unevenly distributed across the country. Areas rapidly incorporated into the empire were not long affected by the military. Where the army remained stationed, its presence was much more influential. The imposition of a military base involved the requisition of native lands for both the fort and the territory needed to feed and exercise the soldiers' animals. The imposition of military rule also robbed local leaders of opportunities to participate in local government, so social development was stunted and the seeds of disaffection sown. This then meant that the military had to remain to suppress rebellion and organize government.

2. According to paragraph 1, what effect did military occupation have on the local population?

Para3. Each soldier received his pay, but in regions without a developed economy there was initially little on which it could be spent. The pool of excess cash rapidly stimulated a thriving economy outside fort gates. Some of the demand for the services and goods was no doubt fulfilled by people drawn from far afield, but some local people certainly became entwined in this new economy. There was informal marriage with soldiers, who until AD 197 were not legally entitled to wed, and whole new communities grew up near the forts. These settlements acted like small towns, becoming centers for the artisan and trading populations.

Para4. The army also provided a means of personal advancement for auxiliary soldiers recruited from the native peoples, as a man obtained hereditary Roman citizenship on retirement after service in an auxiliary regiment. Such units recruited on an ad hoc (as needed) basis from the area in which they were stationed, and there was evidently large-scale recruitment within Britain. The total numbers were at least 12,500 men up to the reign of the emperor Hadrian (A.D. 117-138), with a peak around A.D. 80. Although a small proportion of the total population, this perhaps had a massive local impact when a large proportion of the young men were removed from an area. Newly raised regiments were normally transferred to another province from whence it was unlikely that individual recruits would ever return. Most units raised in Britain went elsewhere on the European continent, although one is recorded in Morocco. The reverse process brought young men to Britain, where many continued to live after their 20 to 25 years of service, and this added to the cosmopolitan Roman character of the frontier population. By the later Roman period, frontier garrisons (groups of soldiers) were only rarely transferred, service in units became effectively hereditary, and forts were no longer populated or maintained at full strength.

4. According to paragraph 4, which of the following is true of Britain’s auxiliary regiments of the Roman army?