Final answer:
In the period being referred to, the use of credit in Europe was both a continuation of older practices and a change, with credit still playing a role in trade and commerce but new financial instruments and institutions emerging.
Step-by-step explanation:
In the context of credit in Europe, there were both continuities and changes in the period being referred to. One continuation of older practices was the use of credit as a means of trade and commerce. Merchants in Europe, even before this period, relied on credit to fund their business activities and to facilitate long-distance trade. This continued to be an important function of credit in this period.
However, there were also significant changes in the use of credit during this time. One major change was the growth of banking institutions and the emergence of new financial instruments. For example, bills of exchange became widely used, which allowed merchants to make payments without the need for physical currency. This facilitated international trade and made it more efficient. Another change was the development of joint-stock companies, such as the British East India Company and the Dutch East India Company, which relied on the sale of shares to raise capital for their ventures.
To summarize: The use of credit in Europe during this period was a continuation of older practices in terms of its role in facilitating trade and commerce. However, there were also significant changes, including the emergence of banking institutions, the use of bills of exchange, and the development of joint-stock companies.
Learn more about The use of credit in Europe during a specific period of time