Venice, which is situated at the north end of the Adriatic Sea, was for hundreds of years the richest and most powerful centre of Europe, the reason being that it gained large-scale profits from the adjacent middle European markets. Venice was the major centre of trade with the Arabs and indirectly the Indians during the Middle Ages. It also served as origin of the economic development and integration of the rest of Europe during the Middle Ages.
Venetian might reached its peak during the 15th century when the city-state monopolized the spice trade from India, through the Arab lands, using exclusive trade agreements. This prompted the Spanish and the Portuguese to embark on the search for the new route to India, leading to the discovery of the Americas and the start of the modern age.
Nevertheless, only the nobility or patriciate had the right to exercise the wealth-bringing long-distance trade. It was the same patriciate that erected a monopoly of political leadership. It left production and small business to the strata of its society that were not capable of becoming a member of the council - which was the visible sign of nobility. On the other hand, they provided protection against competitors, against violation of secrecy - and exercised strict control.
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