Economy Flashcards
Inflation rate between 1501 and 1562?
2.8%
Inflation rate from 1562 to 1600?
1.3%
Who was initially appointed chief of finances?
Henry of Nassau
How many were employed in the cloth industry in 1525? What about 1550?
10 000 - this then rose to 50 000
What did the cortes demand in 1548 and why?
cheaper cloth on the grounds that the poor could not afford it.
Possible causes of inflation?
- new world imports
- population increase
- law of supply and demand
Who benefitted from inflation?
merchants, the crown, grandees
What happened to oil and wheat prices between 1511 and 1559?
wheat doubled and oil tripled
How much did court upkeep cost?
200 000 per annum
what did the 1525 decree dictate? When was a similar decree reissued?
all land be brought under tillage for the first 8 years of Charles’s reign to be given to sheep farmers. A similar decree was issued in 1552 but focused on the previous 12 years.
How much did Aragon provide?
500 000 ducats for each 5 year period between cortes meetings
How much was gained from Naples in taxes between 1525 and 1529?
1.75 million ducats
What did Charles grant in 1534 and what did this do?
Encabezamiento - allowed towns to turn the alcabala into a fixed sum.
How much of the crowns revenue was from the alcabala by 1550?
75%
How much did the subsidio generate in 1551?
500 000 ducats
How much did the cruzada generate between 1523 and 1534?
121 000 ducats per annum
How much did the sale of land owned by military orders generate?
1.7 million ducats
How much did Charles receive from foreign bankers?
Fuggers and Welsers supplied Charles with 543 000 and 143 000 florins respectively out of the total 850 000 florins spent by Charles.
How much revenue did loan repayments take up by 1522? And 1543?
36% and then rose to 65%
When was the sisa tax introduced and what did this add money onto?
1538 - tax on foodstuff.
How much did borrowing amount to during his reign?
30 million ducats
What did interest repayments accumulate to?
10 million ducats
How much did he want to borrow to finance the war against France? When?
1552 - 4 million ducats
How did Charles reward foreign bankers?
He gave them permits to trade directly to America - Welsers began colonising Venezuela
How much did Charles collect from the cortes in 1520s? And the 1550s?
130 000 ducats a year but then 410 000 by the 1550s
How much was revenue from the new world?
270 000 ducats - 20% of crown’s ordinary revenue
What did wages rise by between 1511 and 1550? How did this compare to wheat and wine prices?
30% - but wheat rose by 44% and wine by 64%
How did Cobos finance Charles’s victory at Muhlberg?
seized all new world treasure and coins
What was the increase in land rent between 1530 and 1555?
86%
Was the economy effectively managed?
Not at at all as by the time he abdicated, the crown was virtually bankrupt. Had he stopped fighting in expensive wars, perhaps this could’ve been avoided.
