Consider the following statements regarding ldquo Guild System rdquo 1 The guilds sometimes acted as...........

Ancient and Medival History Mauryan and Post Maurayan

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Consider the following statements regarding “Guild System”.

1. The guilds sometimes acted as trustees and bankers

1. In several cities they seem to have issued coins, which was ordinarily done by the sovereign powers.

Which of the above statement/s is/are correct?

1 only

2 only

Both 1 and 2

None of the above

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Explanation:

Both 1 and 2

The trained workers of the guilds provided a congenial atmosphere for work. They procured raw materials for manufacturing, controlled quality of manufactured goods and their price, and located markets for their sale. ... This shows that guilds loaned money to artisans and merchants as well.

Merchant Guilds had the authority to mint the coins and issue them. All the coins we have from the 4th Century BC onward were issued by the merchant Guilds and not the king.