Doctoral Thesis

Schuldenmachen. Eine soziale Praxis in Augsburg (1480 bis 1532)

Starting Point

In his study „Credit in late Medieval England”, Richard Goddard recently stated that “Credit was ubiquitous”, and Tyler Lange agreed: “Late medieval Europeans swam in a Sea of credit.” This frequently-mentioned ubiquity of credit and debt is the starting point of my doctoral thesis. It aims to examine the social practices behind the financial instrument “credit” in late medieval and early modern Augsburg. It investigates how people on the lowest socio-economic strata (so called “Kleine Leute”) used going into debt as a kind of social routine, not only to provide subsistence, but also to participate in a premodern urban society. This was an urban society, where the possibility of accessing ‘good money’ and a stable currency was limited, particularly for the “Kleinen Leute”. Therefore, debt mechanisms began to play a significant role as a substitute for money.

Empirical Evidence, Method and Results

Credit and debt relationships were documented within the framework of the urban municipal administration, as well as within court files all over Europe, so frequently that the number of cases is quite unmanageable. Drawing on these written source materials, and using a practice-oriented approach, I particularly explore the individual mechanisms of “Doing Debt” in late medieval Augsburg. Borrowing money, extending loans, and pledging goods or household objects were some of the daily practices that existed in addition to, and beyond, cash.

Considered as a multiplicity, in which every debt relationship was slightly different, but with identifiable patterns of comparable "Sayings and Doings" (Th. Schatzki), 'doing debt' can be described in detail with respect to its execution, as well as to its perception, its handling, its functioning, and also its failure. With regard to the archival material, it has been possible to explore late medieval debt practices qualitatively as well as quantitatively: Who was the creditor or debtor, to whom and why? How many such credit relationships existed? How did debtors, belonging to the lowest socio-economic strata, manage to repay their debts? How were creditors ensured that they would be repaid? And above all: what role did the city court play? How did people speak about going into debt, what information did they have about these practices, and what roles did the urban political and jurisdictional authorities take within this environment?

Covering this broad range of topics, my thesis seeks to change our view on debts, and it seeks to demonstrate, for the first time for a German speaking premodern metropolis, that debts were economically embedded, had social functions, and were used throughout the whole society. Debts were a social routine that followed certain practices and patterns; debts opened options and allowed participation.

Perhaps debts were the currency of late medieval and early modern Europe?