1. Use the passage below to answer all parts of the question that follows.
“The borrowing and lending necessary for most of the crusaders stimulated
credit formation and the development of credit institutions and instruments.
Indeed, the money economy as a whole must have been stimulated by these
great enterprises which took so much money. The transformation of gold and
silver altar ornaments into coin for crusaders may have helped to heighten
the inflation that occurred during the Crusades, especially in the later 12th
century. The sale of land to finance most assuredly helped to make the market
in real estate which was bringing about a new social order in the age of the
Crusades. The principal beneficiaries of all these financial transactions were
the bourgeoisie, who loaned the money, bought the land, sold the provisions,
furnished the transportation, and generally benefited from the financial
activity of the crusaders.”
Fred Cazel, “Financing the Crusades,” 1989 .
(A) Describe Cazel’s point of view of the Crusades from the passage.
(B) Explain Cazel’s argument about the economic situation that
resulted from the Crusades.
(C) Explain ONE way in which the 12th-century economy affected the
development of the Crusades.