Economy Flashcards
What was crown expenditure on?
- court
- ambassadors
- militia
- marriage alliances
- armaments
- wars
What were the main sources of income?
- alcabala
- cruzada
- other forms of taxation
- seizing from expelled jews and moriscos
- reconquista
- juros
- papal grants
- tithes
- indulgences
Revenue from cruzada by 1504?
112 million
Income in 1477?
27 million maravedis mainly from the alcabala tax
How much did military expenses amount to?
over 500 million maravedis during 1495 to 1504 - 2 expeditions to Naples cost 454 million maravedis and militia was around 80 million maravedis.
How much was received in papal grants
800 million maravedis (still did not cover the cost of war).
Cost of Catherine of Aragon’s journey to England?
60 million maravedis
What was the interest rate on juros and what did this accumulate to by 1516?
10% interest that resulted in a cost of 131 million maravedis by 1516.
How much was being spent on court and ambassadors by 1504?
35 million maravedis
How were the Catalans not treated as equals?
- the Mesta refused to collaborate with them as their rivals, the Genoese, had more to offer
- weren’t invited to trade fairs at Medina del Campo
- new world was primarily dominated by Castile
How did the crown attempt to counteract the impact of the expulsion of conversos?
Published edicts in 1484 inviting foreign workers to live and work in Spain tax-free for 10 years.
How did F&I encourage trade?
Granted licences for commercial voyages to all those who had financial independence, particularly foreign merchants.
What was the crisis in agriculture?
Focus on sheep farming led to the negligence of the arable sector. The grain shortages meant that by 1506, Spain was largely dependant on wheat imports. F&I were reluctant to encourage this industry as it was expensive and they wished to focus on military campaigns.
Who directed the council of finance?
Alonso de Quintanilla
Revenue increase from 1470 to 1504?
Increased from 800 000 maravedis to 22 million.
What percentage of income was from extraordinary taxation?
70% during the latter part of Isabella’s reign - this had previously stood at 30%.
Examples of ordinary taxes?
- alcabala
- customs duties
Examples of extraordinary taxes?
- cruzada (initially but became more of a constant as the war waged on)
- papal grants
- military orders
- hermandades
- cortes
What percentage of the populace owned 97% of the land?
3%
When were F&I allowed to collect Tithes?
1501
What was the ransom raised by rabbis in Andalusia?
300 000
Who did F&I promote to senior positions on the royal council in 1500?
Presidents of the Mesta.
What was the Law of Land Lease and when was it issued?
Passed in 1501, it granted the Mesta the right to use, in perpetuity and at fixed rents, any land it had once used as pasture. This worsened the crisis in agriculture.
The alcabala made up roughly how much of the crown’s income?
80-90%
