Trade

The plain of Mesopotamia was created in comparatively recent times (from an geological point of view) by the mud brought down by the rivers. This means that the region is very short of useful minerals such as stone for building, precious metals and timber.

This had the effect of stimulating trade with neighbouring regions, and beyond. Early in Mesopotamia’s history food surpluses and craft goods were exchanged for mineral resources. Later, Mesopotamian merchants ventured further afield, with trading contacts being developed with peoples in Syria and Asia Minor in the west, and in Iran and the Indus Civilization, in the east.

With the coming of the Bronze Age, in about 3000 BC, an added incentive to trade was the desire to acquire the copper and tin needed to make this valuable metal. Once Mesopotamian states started to equip their soldiers with bronze armour and weapons, this hunger intensified. However, these minerals are only found in widely scattered locations, so the search for them involved developing long distance trade routes.

Trade caravans (of donkeys – camels were only domesticated after 1000 BC) were organized by specialist agents, to whom merchants entrusted their goods. Overland transport was by oxen. Most bulk goods (such as the timbers brought from as far away as Lebanon) was transported by river. Sea-going ships were also used, with trading voyages being made to the ports of northern India.

Metal coinage would not come into use until much later, but trade was based on a regulated system of exchange – a given amount of seed would be worth so many ounces of silver, for example. These relative values were enshrined in the law codes. Temples acted as banks, with merchants and landowners acting as lenders. Written drafts (inscribed on clay tablets) were used by merchants to draw “money” from the temple-banks.

Temples also made loans on their own account. If the debt was repaid before the due date, no interest was levied. If it was late, a high interest of 20-30% was charged.